Friday, 25 January 2019 15:23

China Navigation Co acquiring dry bulk businesses of Hamburg Süd

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The China Navigation Co (CNCo) is acquiring the dry bulk shipping division of Hamburg Süd, which was acquired by Maersk in November 2018. CNCo will acquire Rudolf A. Oetker (RAO), Furness Withy Chartering and the bulk activities in Alianca Navegacão (Aliabulk). CNCo will take over a fleet of 45 vessels in the handysize, supramax, ultramax, panamax and kamsarmax sectors. The move will expand its dry bulk fleet established in 2012 to which already consists of a fleet of over 100 owned and chartered handysize, and supramax/ ultramax vessels. Closing of the agreement is expected by the end of the first quarter of 2019, subject to regulatory approval.  The ROA Tankers business unit will remain part of the Hamburg Sud Group.

Read 549 times Last modified on Friday, 25 January 2019 16:21
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