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  HOME | Latin America (Click here for more)

Danish Shipping Giant Maersk to Boost Presence in Latin America

CARTAGENA, Colombia – Danish shipping giant Maersk Line said on Friday in the northern Colombian port city of Cartagena that its recent acquisition of German container line Hamburg Süd would enable it to strengthen both companies’ presence in Latin America, especially in the refrigerated cargo sector.

Maersk’s chief operating officer, Soren Toft, told EFE that Colombia was one of the Latin American markets with the biggest growth potential.

He noted that in the third quarter Colombia posted export growth of 12 percent relative to the same period of 2016, a result he said was mainly driven by refrigerated exports.

In that regard, he noted that Maersk had invested in Remote Container Management technology that enables refrigerated containers to be monitored throughout the voyage and thereby ensures greater visibility of the cargo across the entire supply chain.

Arnt Vespermann – the new chief executive officer of Hamburg Süd, which Maersk recently acquired from Germany’s Oetker Group – said for his part that synergies between the two companies would ensure faster transport times, among other benefits.

Toft said Maersk and Hamburg Süd would maintain their separate brands and that synergies would be at the operational level, where the companies will combine networks to give customers access to a global network that offers more direct services, greater port coverage and shorter transit times.

In late November, Maersk Line closed its acquisition of Hamburg Sud for 3.7 billion euros (some $4.4 billion) on a cash and debt-free basis.

The Danish shipping giant financed the acquisition through a syndicated loan facility.

 

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