Top News

|  AAI pips GMR for Bhogapuram project  |    |  SWR and JSW Steel sign MoU for long-term tariff contract  |    |  Shanghai Port handles 3.44 m TEU in July  |    |  Cathay Pacific carries nearly 14% more cargo in July 2017  |    |  Port of Riga handles 13.8 % rise in box volumes in first 7 months of 2017  |    |  VPT handles 22 mt cargo during first 5 months of FY 2018  |    |  Japan exports rise 13% to USD 59 billion in July  |    |  Asia-Europe rate drops 1.4% to USD 918 TEU, off 1.2% to USWC  |    |  Coal imports at Major Ports down  |    |  Alliance Air to start 4 new services from August 30  |    |  Milaha to start Direct container service between Qatar & Kuwait  |    |  Port of Virginia container volume increases 7.5% in July to 234,230 TEU  |    |  Cosco container terminals increase July volumes 17.3% to 7.6 million TEU  |    |  Oakland handles 209,883 TEU in July, increasing port volume 1.6%  |    |  Container volume up 13.8% in Riga to 245,200 TEU in first 7 months  |    |  SpiceJet hikes excess baggage fee on local fights  |    |  Major Ports profit to rise 40 % this fiscal at INR 7000 crore in FY 2018  |    |  Foreign operators to be invited to develop Bangladesh ports  |    |  NMPT chief highlights green initiatives  |    |  MOL restarts Wellington (NZ) Port call  |   
You are here: Home » International News » Shipping» CMA CGM to get Mercosul from Maersk Line

CMA CGM to get Mercosul from Maersk Line

15 June 2017 | Marseilles
 

transreproter

CMA CGM and Maersk Line have announced that they have entered into a binding agreement whereby CMA CGM would acquire Mercosul Line, one of the leading players in Brazil’s domestic container shipping market.

The acquisition of Mercosul Line would allow CMA CGM to strengthen its service offering to and from South America, most notably in Brazil, a market with a strong potential for development, especially on cabotage and "door-to-door" services.

This activity is part of CMA CGM’s core strategy, which is to develop intra-regional sea transportation links and complementary services such as logistics.

The Mercosul transaction is subject to Brazilian regulatory approval and the closing of Maersk’s Hamburg Süd acquisition. At the earliest, the integration of Mercosul within CMA CGM will start at the same time as the Hamburg Süd integration, which is expected in Q4 2017. Until then, Mercosul Line will continue business as usual, said a release.

The transaction will ensure that the cabotage sector in Brazil remains competitive and that customers continue to benefit from a comprehensive choice of carriers.

"The acquisition of Mercosul represents a milestone in CMA CGM’s development strategy in South America. It is a well-managed company and we will leverage this platform to expand our footprint and service offerings to and from Latin America, seizing opportunities linked to the high growth prospects in this region. As a result, CMA CGM will be able to propose complete door-to-door services, continue providing best-in-class services to its customers,” said Said Rodolphe Saadé, Chief Executive Officer of CMA CGM.

"Mercosul is a highly respected and well-run company with an excellent fleet and customer value proposition. Its dedicated talents are well regarded both internally and externally. CMA CGM is a good fit for Mercosul and we are confident that they will continue to develop the company going forward.” said Mr Søren Toft, Chief Operating Officer, Maersk Line.

   
Transreproter Logo