Splash247: MSC plays down talk of Hapag-Lloyd bid

Published by Splash247

Mediterranean Shipping Co (MSC) has denied reports it is looking to acquire a stake in German liner giant Hapag-Lloyd.

Citing sources familiar with the matter, the Hamburg-based Manager Magazin claimed MSC has been in discussions for some time with Hapag-Lloyd’s principal shareholders, despite previous approaches being rebuffed.

“This report is not true or correct,” a press officer for MSC told Splash today while a source at Hapag-Lloyd dismissed the German article as “pure speculation”.

MSC is already the world’s largest container line by fleet capacity, while Hapag-Lloyd ranks in fifth place.

A combination of the two companies would dramatically reshape the liner landscape and potentially leave MSC’s rival, Maersk, without its strategic alliance partner in the Gemini Cooperation.

The report comes as MSC continues to deepen its presence in Germany. The Geneva-headquartered carrier has established strong ties in Hamburg following its acquisition of a significant stake in port operator HHLA, a deal that marked one of the most important investments in German maritime infrastructure in recent years.

Hapag-Lloyd’s largest shareholders are German logistics billionaire Klaus-Michael Kühne and Chilean shipping company Compañía Sud Americana de Vapores (CSAV), each holding around 30% of the company. The city of Hamburg is the next biggest shareholder, followed by Saudi and Qatari interests stemming from the German liner’s earlier acquisition of UASC.

Hapag-Lloyd has long been regarded as one of Hamburg shipping’s crown jewels, and previous takeover approaches have failed to gain traction.