Shipping line extends its influence in world of logistics with acquisition of two major European transport operators
The European Commission has approved shipping giant Mediterranean Shipping Company’s (MSC) plan to buy just under half of Port of Hamburg terminal and service operator Hamburger Hafen Aktiengesellschaft (HHLA) and its proposed acquisition of Lyon-based freight forwarding and logistics specialist Clasquin.
As a result, MSC will purchase a 49.9 per cent shares in HHLA, leaving the city itself with a controlling share.
The partners have agreed a 40-year deal to manage the venture, while MSC says it will boost container traffic through the port.
The Clasquin takeover, meanwhile, sees MSC assume sole control of the company via its Luxembourg-based subsidiary SAS Shipping Agencies Services.
