Maersk Line’s proposed acquisition of Hamburg Süd has received approval from China’s ministry of commerce subject to capacity limitations on certain routes as well as the German carrier no longer taking part in specific vessel sharing agreements (VSAs).
Maersk Line has committed to reducing its combined capacity with Hamburg Süd for shipping reefer containers on the Far East Asia – West Coast of South America trade route from the current level of 45-50% to 34-39%.
The approval is also subject to Maersk Line not extending Hamburg Süd’s membership of a VSA currently active on the Far East Asia – West Coast of South America trade route and the Danish line terminating Hamburg Süd’s membership of a VSA currently active on the Far East Asia – East Coast of South America trade route on the earliest date permitted.
You need a free subscription to read the entire article.
Subscribe
Subscribe for FREE and gain access to all our content.
More than 5000+ articles.