CCNI and Hamburg Sud Sign Fleet Agreement

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany have announced that they have signed a preliminary agreement whereby HSDG will acquire the container liner activities of CCNI.

The agreement includes the related general agency functions subject to due diligence, execution of a sale and purchase agreement and approval by the competent authorities. The acquisition is scheduled to be executed by the latest on December 31, 2014.

HSDG intends to strengthen its liner network to and from South America by integrating the CCNI liner services. Merging the dedicated and experienced workforce of CCNI and HSDG will help to create an even stronger organization that will provide a first class service to the customers of both companies, says HSDG.

Following the transaction CCNI will continue its non-liner shipping activities including the car carrier and shipowning business.