Earlier this week we wrote about the Oetker family meeting that was to take place on Wednesday, November 30 with the aim to decide on the future of the German container shipping line Hamburg Süd and of Maersk’s interest in the deal. And today Maersk Line and the Oetker Group have reached an agreement for […]
Tag: M&A
Maersk Line interested in Hamburg Süd
Last week the information leaked that members of the Oetker family, owners of Hamburg Süd, were discussing a potential sale of the shipping line. Now the Wall Street Journal writes that Maersk Line is looking to buy the German peer, citing “people with knowledge of the matter”. The momentous meeting of the family is reportedly […]
A major deal in Russian stevedoring business
EVRAZ, Russian steel producing giant with own coal and iron ore mining operations, is ready to sell its port asset in the Russian Far East – Nakhodka Sea Commercial Port, with the aim of reducing its debt load, writes Kommersant. The Group owns 100% of the port and is searching for investors to buy either […]
HMM to buy TTI Algeciras
Hyundai Merchant Marine (HMM) was chosen as preferred bidder in the sale of Total Terminals International Algeciras (TTI Algeciras) in Spain, one of the lucrative assets of Hanjin Shipping, says HMM’s press release dated Friday. TTI Algeciras operates the second largest (after APMT’s facility) container terminal in the port of Algeciras, Southern Spain. Its annual […]
Korea Line doesn’t take Hanjin’s ships and terminal
On 22 November, Korea Line signed a deal to acquire the Asia-US business of Hanjin Shipping. The deal worth 37 billion won (USD 31.5 mln) involves the business network and client information of Hanjin’s Asia-US route, subsidiaries in 7 countries including the US, China and Vietnam, and 574 workers based in Korea and overseas, writes […]
NYK acquires 20% in Maher Terminals
NYK Ports, a subsidiary company of Japanese Nippon Yusen Kabushiki Kaisha (NYK Line), acquired a 20% share of Maher Terminals (Maher) on 16 November, 2016. As announced in the company’s press release, the investment is effected together with Macquarie Infrastructure Partners III L.P., a 10-year closed end fund that focuses on investments in infrastructure and […]
Korea Line wins Hanjin’s Asia-US business
On Monday, Seoul Central District Court awarded Korea Line the first right to purchase the Hanjin’s shipping assets on Asia-US route and a 54% stake in Total Terminals International LLC, an operator of Long Beach Terminal, California, writes the Wall Street Journal today. As we wrote earlier, five companies submitted initial bids for these assets, […]
HMM and Korea Line bid for Hanjin Asia-US business
Hyundai Merchant Marine (HMM) and Korea Line, owned by SM Group, have submitted final bids for the Asia-US assets of bankrupt Hanjin Shipping, writes Lloyd’s Loading List. Seoul Central District Court, which oversees Hanjin’s bankruptcy procedure, is expected to announce the preferred bidder this week. The sale is to be concluded by November 21. Hanjin’s […]
A new investor for Russian Railways inland terminal
Yingkou Port (China) will acquire from Russian Railways 49% of the share capital of Bely Rast logistics centre near Moscow on the basis of an open competition, announces Russian Railways’ press release. This is provided by the cooperation agreement signed by the President of Russian Railways (RZD) Oleg Belozerov and the CEO of China Yingkou […]
Japanese container lines integrate to become #6 in the world
Today at a joint press conference, the three Japanese shipping lines – K Line, NYK and MOL – announced of an agreement to integrate their container shipping and overseas port businesses. According to their joint statement, Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha have signed contracts agreeing the establishement […]
