In December of 2016, the shipping giant AP Moller Maersk and Hamburg Sud began discussions of an acquisition. It was required that 23 jurisdictions approve this acquisition. The approval process concluded on Tuesday, November 28 2017 when the final party, the Korean Fair Trade Commission, signed the dotted line.
Søren Skou, CEO of AP Moller spoke of the recent news between Maersk Shipping Line and Hamburg Sud when he remarked, “we have reached an important milestone in our strategy to become an integrated transport and logistics company delivering sustainable growth. These are truly exciting times and we are looking forward to taking the first steps forward as one company.”
Through the transaction, the two companies will now have a total container capacity of 4.15 million TEUs and 772 vessels in their fleet. The update comes as good news for our humanitarian and relief organizations who are able to utilize the Missionary Expediters & Cargo Logistics, Inc service contract rates with Maersk to get their cargo to all corners of the globe.