Hamburg Süd Signs Purchase Agreement for Chilean Shipping Firm

Hamburg Süd’s acquisition of Chilean container shipper Compañía Chilena de Navegación Interoceánica S.A. (CCNI) is sort of full in the present day with the signing of the Sale & Purchase Agreement. The firm notes that following approval by antitrust authorities, the $160 million deal is scheduled to turn out to be efficient in the beginning of Q2 2015 and contains the associated normal company features of Agunsa Agencias Universales S.A, (Agunsa), with headquarters in Valparaiso and Santiago de Chile.

Hamburg Süd says they’ll function the CCNI container liner enterprise beneath the CCNI model identify in the primary trades between the West Coast of South America, Asia, Europe and North America respectively.

CCNI will discontinue their container liner companies and can solely be utilizing the CCNI identify for the Car Carrier actions which they’ll retain. Agunsa will proceed representing different delivery traces as agent and also will additional develop its port and logistics companies enterprise in South America.

CCNI presently operates 5,500 TEU containerships on a weekly service to Chinese ports in addition to 1,700 – 3,500 TEU vessels protecting the west coast of North and South America. Additionally, CCNI operates thirty-three vessels of between 6,500 – 8,500 nominal TEUs capability, which connects with South
Korean ports (Busan), China (Shanghai, Ningbo, Yantian and Shekou), Hong Kong, Singapore, Brazil (Rio de Janeiro, Santos, Río Grande and Itajaí), Uruguay (Montevideo) and Argentina (Buenos Aires).