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CMA CGM completes acquisition of Maersk's Mercosul Line
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Time:2017/12/13 18:28:56 |
COMPETITION for control of the rapidly expanding Latin American market is expected to be red hot now that CMA CGM Group's has completed its acquisition of Brazilian domestic shipping specialist Mercosul Line and Maersk Line has wrapped up its acquisition of Hamburg Sud.
CMA CGM finalised its takeover of Mercosul from Maersk Line just a week after Maersk's acquisition of Hamburg Sud was finalised.
Disposing of Mercosul was a requirement demanded by regulators ahead of their approval of the Maersk Line-Hamburg Sud deal. Mercosul is engaged in the Brazilian cabotage trades, as is Hamburg Sud's other subsidiary Alianca, and regulators were concerned that would have given Maersk a dominant share of the Latin American trades, reported IHS Media.
Even without Mercosul, Maersk Line deploys 17.6 per cent of its capacity on the trade, and the injection of Hamburg Sud's capacity makes Latin America the largest trade lane in Maersk Line's portfolio.
CMA CGM said the acquisition of Mercosul Line allows the carrier to strengthen its service offering in Brazil, and more broadly in South America, especially in cabotage and door-to-door services.
Mercosul serves 12 ports with a fleet of four vessels of 2,500 TEU with offices in Santos, Sao Paulo, Manaus, Recife and Itajai. CMA CGM operates 71 vessels on nine different services with 20 port calls.
"The activity of Mercosul Line is part of CMA CGM's core strategy, which is to develop intra-regional sea transportation links and complementary services such as logistics," CMA CGM was cited as saying in a statement.
According to Alphaliner, Latin American ports recorded a growth rate of 10 per cent year on year in the third quarter, and the strong volume recovery could trigger a major overhaul of Asia-South America services in the months ahead.
Alphaliner data shows Mexican ports leading the way with third quarter growth reaching 15.2 per cent, with notable gains in Manzanillo, up 11.6 per cent, Lazaro Cardenas (+13.1 per cent), and Veracruz (+17.7 per cent).
Brazilian ports also rebounded strongly in the last quarter, with Santos gaining 6.6 per cent along with Itajai (+5.5 per cent), Rio Grande (+13.8 per cent) and Paranagua (+8.2 per cent).
On the west coast of South America, San Antonio in Chile reported a 11.8 per cent gain, while Callao in Peru posted a gain of nine per cent. In the Caribbean, the port of Limon-Moin recorded a 19.6 per cent gain over the July and August period. | | | | | | | |
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