Maersk to Buy German Container Shipping Line Hamburg Süd

The deal highlights the push toward consolidation of the shipping industry, which is grappling with low freight rates and oversupply.

Reuters
Safmarine Kuramo, a 2,500 twenty-foot-equivalent-unit (TEU) boxship briefly hijacked off the Nigerian coast on Feb. 5, was released the following day with all crew members reported to be safe, according to Singapore’s Maritime and Port Authority (MPA).
Safmarine Kuramo, a 2,500 twenty-foot-equivalent-unit (TEU) boxship briefly hijacked off the Nigerian coast on Feb. 5, was released the following day with all crew members reported to be safe, according to Singapore’s Maritime and Port Authority (MPA).

A.P. Moller-Maersk agreed to buy German rival container shipping line Hamburg Süd, sending shares in the Danish shipping company up nearly 5 percent.

The deal highlights a push to toward consolidation the container shipping industry, which is grappling with low freight rates and oversupply.

It also follows Maersk's announcement in September that it would focus on transport and logistics, and spin off its energy operations.

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