TBA GroupCleveland Cascades LtdPort of Vancouver USATOC EventsBühler GmbHTelestack
  • Sailors Society
  • Cleveland Cascades Ltd
  • TBA Group
  • Cimbria
  • Port of South Louisiana
  • Vigan

Hamburg Süd and CNCo close sale

(Posted on 08/04/19)

Hamburg Süd and CNCo have received regulatory approval and completed the transfer of RAO and the bulk activities in Furness Withy and Aliança Navegação e Logística to CNCo.

Hamburg/Singapore, April 1, 2019. Hamburg Süd and The China Navigation Company (CNCo), a subsidiary of the Swire Group, have today completed the sale of Hamburg Süd’s dry bulk shipping business, which includes Rudolf A. Oetker (RAO) and the bulk activities in Furness Withy (London and Melbourne) and Aliança Navegação e Logística, to CNCo after receiving regulatory approval. The sale was announced in January 2019. The RAO Tankers business unit is not included in the agreement and will remain part of the Hamburg Süd Group.

The affected dry bulk shipping units with offices in Hamburg, London, Melbourne and Rio de Janeiro have a chartered fleet of approximately 45 vessels in the handysize, supramax/ultramax and kamsarmax/panamax segments. CNCo plans to keep the offices and staff.

“With this strategic step, Hamburg Süd – as part of the Maersk family – will now be focusing on the container shipping business,” said Dr. Arnt Vespermann, CEO of Hamburg Süd. “Our bulk business has been an integral part of our company and success for more than six decades, and today we would like to thank our colleagues for everything they have done for the company. At the same time, we are pleased to have found China Navigation to be the new, perfectly matching owner of our former dry-bulk operations.”

Calling the acquisition a strategic fit for CNCo, James Woodrow, Managing Director of CNCo, said: “We are delighted to receive regulatory approval and to welcome on board a very talented and highly experienced team. The natural synergies between the businesses, skills and expertise of the new teams will complement those we have at CNCo. This will in turn help to develop our strategic expansion in the larger segments.”

Latest News

Strong results for resilient Algoma

(Posted on 26/02/21)

Algoma Central Corporation, is reporting very strong financial results for 2020, a year in which a global... Read more


North posts solid renewal results

(Posted on 24/02/21)

North P&I Club has reported continuing growth in its diversified business lines and solid progress... Read more


Britannia P&I launches B Korea

(Posted on 24/02/21)

Britannia P&I will officially launch B Korea P&I Correspondent Co., Ltd. (‘B Korea&rsquo... Read more


Fleet to be part of climate change solution

(Posted on 22/02/21)

To embed action on environmental sustainability and biodiversity, Fleet Management (FLEET) has teamed... Read more


Windsor Salt and CSL partner on self-unloading ship

(Posted on 17/02/21)

K+S Windsor Salt Ltd. (“Windsor Salt”) and Canada Steamship Lines (“CSL”), a... Read more


MAJ warns of potential seafarer shortages

(Posted on 17/02/21)

The global crew change crisis could lead to a shortage of seafarers if exhausted crew choose to leave... Read more


IOMSR first to broadcast mass to crew at sea

(Posted on 17/02/21)

The Isle of Man Ship Registry has become the first flag state to broadcast a mass direct to crew aboard... Read more


NORDEN celebrates 150th anniversary

(Posted on 11/02/21)

Today, NORDEN celebrates its 150th anniversary, being one of the world’s oldest international... Read more


ABB software helps ships improve efficiency

(Posted on 10/02/21)

Digital technologies, including AI, data integration and analytics solutions, are expected to transform... Read more


MENAS and Inchcape reach strategic Mideast agreement

(Posted on 10/02/21)

The Middle East Navigation Aids Service (MENAS) has taken a huge step forward in its effort to ensure... Read more


Sailors SocietyPort of StocktonCimbriaViganThe Wolfson Centre for Bulk Solids Handling Technology Port of South Louisiana
  • TOC Events
  • The Wolfson Centre for Bulk Solids Handling Technology

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping