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Maersk nears deal to offload Hamburg Sud bulk/tanker unit

SHIPPING heavyweight Maersk Group, which acquired Hamburg Sud in late 2017, is on the verge of selling off the German carrier's bulk/tanker shipping business without revealing a specific time frame

Maersk nears deal to offload Hamburg Sud bulk/tanker unit

SHIPPING heavyweight Maersk Group, which acquired Hamburg Sud in late 2017, is on the verge of selling off the German carrier's bulk/tanker shipping business without revealing a specific time frame

22 January 2019 - 19:00

SHIPPING heavyweight Maersk Group, which acquired Hamburg Sud in late 2017, is on the verge of selling off the German carrier's bulk/tanker shipping business without revealing a specific time frame.

Maersk has had little interest in keeping the bulk shipping and tanker units that came under its ownership since the US$4 billion acquisition.



The deal comprised its container shipping business plus a fleet of 55 chartered tankers and bulkers operated by subsidiaries RAO Shipping in Hamburg, Alianca Bulk based in Rio de Janeiro and chartering outfit Furness Withy Chartering, which has offices in London and Melbourne, reported Lloyd's List.



A handful of companies were approached to take over the units, with a decision now made on the buyer, according to a source, who declined to be identified as the deal is not yet public, the report said.



The tanker and bulk businesses accounted for seven per cent of Hamburg Sud's turnover. Excluding the tramp business, its revenue reached $5.4 billion in 2017.



A spokesman for Hamburg Sud declined to comment on the progress made so far with attracting a new owner.


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