Denmark-based shipping company Maersk Line has agreed to acquire German container shipping line Hamburg Süd from its owner Oetker Group, for an undisclosed sum.

Subject to final agreement and regulatory approvals, the deal is expected to be complete by the end of next year.

With 130 container vessels and a container capacity of 625,000 twenty-foot equivalent (TEU), Hamburg Süd currently employs 5,960 people in more than 250 offices worldwide, and markets its services through Hamburg Süd; CCNI, based in Chile; and Brazil-based Aliança brands.

Maersk Line CEO Søren Skou said: “The acquisition of Hamburg Süd is in line with our growth strategy and will increase the volumes of both Maersk Line and APM Terminals.”

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