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Hamburg Süd set to become 8th largest box line with CCNI merger

Hamburg Süd set to become 8th largest box line with CCNI merger
Hamburg Süd is set to become the world’s largest eighth largest container line by the end of this year through a combination of taking over Compañía Chilena de Navegación Interoceánica (CCNI) and newbuilding deliveries over the next five months according to Alphaliner.

The German liner company announced at the end of last week it had made $160m bid to acquire CCNI. The deal is expected to be completed by the end of December subject to due diligence and regulatory approvals.

According to Alphaliner’s weekly newsletter CCNI currently operates 59,800 teu in capacity, and the deal includes four 9,030 teu chartered in vessels delivering in 2014 and 2015. Meanwhile Hamburg Süd has 103,000 teu in new capacity to be delivered over the next three years.

As of the date of the announcement Alphaliner said it would give the merged company a fleet capacity of 559,800 teu currently moving the German line up from 13 to 11 in the global rankings ahead of Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL). By the time the merger is complete at the end of the year Hamburg Süd is set to move up three more places to the number eight position with 80,000 teu in new deliveries over the next five months, taking it ahead of Mitsui OSK Lines (MOL), APL and Hanjin Shipping.