The shipping company’s MSC entry into the Hamburg HHLA is causing uncertainty in Bremerhaven. Experts say that this acquisition is expected to have a domino effect, with Bremerhaven potentially losing out.
Joint Venture
MSC is making an offer for 49.9% stake in Hamburg HHLA. The world’s largest container line MSC intends to acquire all free-floating A-Shares of HHLA and announced its intention to launch a voluntary public takeover offer. HHLA is to be operated as a strategic joint venture, with the City of Hamburg holding a stake of 50.1% and MSC ultimately holding a stake of 49.9%. During the online container logistics platform Container xChange conference, industry experts emphasized that MSC, a key player, might be required to commit further volumes as part of the agreement.
MSC has also pledged to enhance its volume throughput at Hamburg, targeting a remarkable 1 million teu by 2031, alongside relocating its German headquarters to the city. This strategic partnership aims to fortify the entire Port of Hamburg, positioning it as a central hub within MSC’s global network of container services and logistics chains.
Win Win Situation
Chief analyst at Xeneta, Peter Sand, shared his insights at the conference. He highlighted that MSC’s agreement to buy a 49.9% stake in HHLA will likely impact the container shipping landscape, with potential commitments and benefits for both parties. Peter Sand stated, “MSC will surely have to commit further volumes as part of the agreement, but the city will benefit from the injection of cash.” He also noted that this move aligns with MSC’s strategy of operating efficiently from port to port.
The leader experts during the conference also expressed the opinion that “this acquisition is expected to have a domino effect, with Bremerhaven potentially losing out,” as Container xChange reports. It is worth reminding that on Tuesday hundreds of people demonstrated against the planned partial sale of the HHLA Hamburger Hafen und Logistik AG to the Geneva-based container line MSC Mediterranean Shipping Company. With a strong police presence the demonstrators made it clear their opposition to the 49.9% sale of the HHLA to the Mediterranean Shipping Co (MSC), as they consider the planned entry of MSC into HHLA to be wrong
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Shippingtelegraph
