Cleveland Cascades LtdBühler GmbHTMS Awards 2019ViganMULTIMODAL 2019Marine Fuels 360 China
  • Port of Stockton
  • Cimbria Bulk Equipment A/S
  • TOC Events
  • Telestack
  • 25th Coaltrans Asia
  • 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

Questionnaires simplified

(Posted on 18/09/19)

AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more


New Baltic index launched

(Posted on 18/09/19)

The Baltic Exchange has launched a new assessment to track the cost of operating vessels. Initially... Read more


West of England’s 50 years in Greece

(Posted on 18/09/19)

The West of England, a leading mutual marine insurer, has celebrated the 50th Anniversary of its Greek... Read more


25 years young

(Posted on 10/09/19)

Fleet Management Ltd, one of the world's largest independent third-party ship management companies,... Read more


Misuga migrates Dutch bulkers to Sealink VSAT

(Posted on 10/09/19)

Rotterdam based ship management company Misuga Kaiun Holland B.V. has chosen Marlink to provision cost... Read more


Clipper adds handysizes

(Posted on 10/09/19)

Clipper Bulk, in close collaboration with a financial partner, has acquired three Handysize dry cargo... Read more


Columbia discusses the Ship Manager of the Future

(Posted on 10/09/19)

A vision of the Ship Manager of the Future and the way ship management companies will interact with... Read more


IRClass takes over IACS Chairmanship

(Posted on 10/09/19)

Arun Sharma, Executive Chairman of the Indian Register of Shipping (IRClass), has been formally introduced... Read more


ClassNK’s expert cyber security team

(Posted on 10/09/19)

Leading Classification Society ClassNK has established a cross-sectional cyber security project team... Read more


Fednav’s hometown commitment

(Posted on 03/09/19)

Fednav Limited has taken delivery of the Federal Montreal, its newest Great Lakes-suitable handysize... Read more


Sailors SocietyPort of BelledunePort of Stockton25th Coaltrans AsiaTOC EventsCimbria Bulk Equipment A/S
  • TBA Group
  • Bühler GmbH
  • TMS Awards 2019
  • Sailors Society

Subscribe to our newsletter

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