Hamburg: Hamburg Süd has signed a sales and purchase agreement for the acquisition of the container liner services of Compañía Chilena de Navegación Interoceánica (CCNI), Chile’s second biggest carrier.
The purchase, which is estimated to be worth around $160m, is pending approval by antitrust authorities, after which it should be effective by the end of March.
Hamburg Süd will operate CCNI’s existing services between the west coast of South America, Asia, Europe and North America once the acquisition is completed.
The CCNI name will only be used for its car carrier activities, which the Chile-based carrier will retain.
“Merging the experienced workforces of CCNI and Hamburg Süd will help to create an even stronger organisation that will provide a first-class service to the customers of both companies,” Hamburg Süd said in a statement.
The acquisition includes the general agency functions of Agunsa Agencias Universales, which has headquarters in Valparaiso and Santiago de Chile.
Agunsa will continue representing other shipping lines as agent and will also further develop its port and logistics services business in South America, the statement said.
Hamburg Süd has temporarily idled two 10,500-teu boxships while it awaits for approval of the CCNI acquisition. The Chilean carrier has delayed the delivery of two 9,030-teu vessels originally scheduled to arrive in late 2014, data from Alphaliner shows.