Hamburg Sud owners mull sale of shipping business: sources say
THE owner of Hamburg Sud, the seventh-largest container-shipping operator globally in terms of capacity, is considering putting up the shipping business for sale, but no decision has been reached, according to a person familiar with the matter, reported The Wall Street Journal.
The carrier is part of the Oetker Group, a family-owned German conglomerate, involved in shipping, banking, food and beverages.
"If a sale is decided, the process could start before the end of the year," the source was quoted as saying. However, a Hamburg Sud spokeswoman has declined to verify the claim.
In its latest earnings statement, Hamburg Sud said it had revenue of US$6.73 billion in 2015, but did not disclose any net-income figures. The company has a three per cent share of global container capacity, according to data provider Alphaliner, transporting 600,000 containers aboard 70 ships.
Hamburg Sud's fleet is valued at roughly $1.4 billion, according to maritime data provider VesselsValue.
The industry's downturn has prompted a wave of consolidation with many of the 20 biggest operators either joining alliances or merging to weather the crisis. Hamburg Sud and Israel's Zim Integrated Shipping Services Ltd are the only ones in the group left without a partner.
THE owner of Hamburg Sud, the seventh-largest container-shipping operator globally in terms of capacity, is considering putting up the shipping business for sale, but no decision has been reached, according to a person familiar with the matter, reported The Wall Street Journal.
The carrier is part of the Oetker Group, a family-owned German conglomerate, involved in shipping, banking, food and beverages.
"If a sale is decided, the process could start before the end of the year," the source was quoted as saying. However, a Hamburg Sud spokeswoman has declined to verify the claim.
In its latest earnings statement, Hamburg Sud said it had revenue of US$6.73 billion in 2015, but did not disclose any net-income figures. The company has a three per cent share of global container capacity, according to data provider Alphaliner, transporting 600,000 containers aboard 70 ships.
Hamburg Sud's fleet is valued at roughly $1.4 billion, according to maritime data provider VesselsValue.
The industry's downturn has prompted a wave of consolidation with many of the 20 biggest operators either joining alliances or merging to weather the crisis. Hamburg Sud and Israel's Zim Integrated Shipping Services Ltd are the only ones in the group left without a partner.