Swire buys bulk shipping businesses

SWIRE subsidiary the China Navigation Company (CNCo) have agreed to purchase Hamburg Sud’s bulk shipping business which includes Rudolf A Oetker (RAO), Furness Withy Chartering and bulk activities in Alianca Navegacao.

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Source: China Navigation Company

Hamburg Sud CEO Arnt Vesperman said the move would allow the company to focus on its liner business and describing it as a "logical step".