[240119.EN.SEA] Hamburg Sud Bulk Shipping Business To Be Sold China Navigation

CHINA Navigation Co, a subsidiary of Swire Group, will purchase the bulk shipping operations of Hamburg Sud that A P Moller-Maersk acquired in November 2017 along with the German carrier's tanker and container shipping businesses.

By selling only the bulk - and not the RAO Tankers business - for an undisclosed purchase price, "Hamburg Sud is focusing as planned on its liner business with its two container shipping brands, Hamburg Sud and Alianca," said Hamburg Sud chief executive officer Arnt Vespermann.

"As part of Maersk, the world's largest liner shipping company, this clear focus is a logical step." The deal is expected to close at the end of the first quarter.

Mr Vespermann said China Navigation would make a "good new home" for Hamburg Sud's bulk businesses, which operate under the names of Rudolf A Oetker (RAO) and Furness Withy Chartering, as well as the bulk activities in Alianca Navegacao (Aliabulk), reported American Shipper.

The bulk shipping business in Hamburg Sud operates from Hamburg, London, Melbourne and Rio de Janeiro with a chartered fleet of 45 vessels in the handysize, supra/ultramax and kamsarmax/panamax sizes.

Headquartered in Singapore, China Navigation is the wholly owned deep-sea ship owning and operating division of the multinational Swire Group. The company employs 2,500 staff globally and owns and operates 135 vessels consisting mainly of dry bulk carriers and multipurpose liner vessels.

Swire Bulk, its dry bulk trading business, was established in 2012 and trades a modern fleet of 100 handysize and supra/ultramax vessels comprising owned, long-term and short-term chartered tonnage.

Source : HKSG.