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Maersk to buy German shipping line Hamburg Sud

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Published Thu, Dec 1, 2016 · 09:50 PM

Copenhagen

AP MOLLER-MAERSK has agreed to buy German rival container shipping line Hamburg Süd, sending shares in the Danish shipping company up nearly 5 per cent.

The deal highlights a push towards consolidation in the container shipping industry, which has been grappling with low freight rates and oversupply.

Maersk

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