World News
Hamburg Süd Signs Slot Purchase Agreement with Maersk Line Ahead of Acquisition
Maersk Line and Hamburg Süd Tuesday announced that they have reached a slot purchase agreement for Hamburg Süd’s volumes on the East–West trades to be shipped on vessels in the 2M network.
"Hamburg Süd is very satisfied about the agreement with Maersk. Our customers will benefit from extended port coverage, best transit times, and an increased number of loops in the East–West trades," said Frank Smet, Member of the Executive Board of Hamburg Süd.
The slot purchase agreement is said to be set to come into effect on April 1, 2017.
The news follows an announcement in December that Maersk Line had reached an agreement with Oetker Group for Maersk Line's acquisition of Hamburg Süd, pending regulatory approval - which is expected by the end of 2017.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 648.00 | 2.00 | 808.00 | 10.00 |
| Rotterdam | 613.50 | 4.50 | 792.00 | 21.50 |
| Houston | 646.00 | 3.00 | 851.00 | 13.50 |
| Fujairah | 647.50 | 1.50 | 900.00 | 0.50 |
| Global 20 Ports Average | 672.50 | 0.50 | 896.50 | 0.50 |
| Global 4 Ports Average | 638.50 | 2.00 | 838.00 | 4.00 |
| Global Average Bunker Price | 727.00 | 2.00 | 943.00 | 2.00 |
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