Oetker Group consider quitting shipping business, by selling its container line Hamburg Sud. The discussions and negotiations about possible offloading of the world’s seventh-largest container shipping operator from the portfolio of family-owned German conglomerate Oetker Group, are on the table, but no decision has been reached yet. No additional information was disclosed, as neither Oetker Group management, nor Hamburg Sud management, revealed any details about the stage of negotiations or any financial details of the possible transaction. According to the analysts, the Hamburg Sud’s fleet is valued at roughly 1.4 billion USD.
“If a sale is decided, the process could start before the end of the year”, said people from Oetker Group aware with the plans. “The price may seem high but the biggest obstacle could be the internal power struggle in the Oetker family”, added they.
Hamburg Sud is a shipping line on the North-South ocean trade routes. It is part of the Oetker Group, a family-owned German conglomerate. Hamburg Sud is the world’s seventh-largest container shipping operator, having 3% share from the global container fleet capacity and moving 600,000 containers aboard of around 70 vessels.
In 2013, Hamburg Sud discussed a merger with Hapag-Lloyd, but the deal was not concluded and negotiations were abandoned. The reason was that younger Oetker siblings voted against the merger and may keep position in the current transaction.