Hamburg Sud buys FESCO
Wednesday, June 28th, 2006 - 11:32 am
German marine carrier Hamburg Sud will take over vessels operated by Russia’s Far Eastern Shipping Co. (FESCO) between Australia/New Zealand and Asia as well as North America starting June 30. It forms part of an agreement made in March, in which Hamburg Sud bought the assets of Fesco Ocean Management Ltd., including nine chartered vessels with nominal capacity ranging from 1,000 TEUs to 1,750 TEUs and three 2,750-TEU newbuildings due to be delivered in the second half of this year. Hamburg Sud will also take 15,000 containers from FESCO.
FESCO & Hamburg Sud had vessel sharing agreements on the FNZEL & FAL services in the Asia/Australasia trade, as well as the PNW and PSW loops between North America and Australasia. Hamburg Sud will now market the services under the brand name Fesco Australia/New Zealand Liner Services. Bookings already made with FESCO, but on vessels about to be controlled by Hamburg Sud, will be passed on to Hamburg Sud for loading and documentation production. (Source: The Cargo Letter)
