Maersk’s Hamburg Süd subsidiary said Monday that it had completed the sale of its dry bulk shipping company to China Navigation Company (CNCo), a subsidiary of the Swire Group.
The sale includes Hamburg Süd subsidiaries 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. Together they operate approximately 45 chartered ships.
Hamburg Süd said it will focus on the container business, although it also said the RAO Tankers business unit is not included in the agreement and will remain part of the company.
Hamburg Süd was acquired by A.P. Moller - Maersk in 2017.
More carriers join Digital Container Shipping Association
COSCO has yet to join the organization that seeks to enable digital standardization.
7 days ago