China Approves Maersk’s Acquisition Of Hamburg Sud
China Approves Maersk’s Acquisition Of Hamburg Sud
Posted on Nov 9
China will allow Maersk Line to proceed with its acquisition of north-south specialized carrier Hamburg Süd, meaning that only South Korea and Colombia must still agree to the transaction.However, China will add restrictions on the carriers’ use of vessel-sharing agreements (VSA) on certain South America trade lanes out of the Far East, where Maersk Line, SeaLand, and Hamburg Süd combined control about 14.1% of the trade in the first eight months of the year.Brazil’s approval required that Maersk sell its ECSA coastal carrier Mercosul Line which is now going to be acquired by CMA CGM.