The family behind the world’s seventh-largest shipping line, Hamburg Süd, are to meet to decide on the future of the company, reported Lloyd’s List.
With the carrier struggling amid the global slump in freight rates, members of the Oetker family, owners of Hamburg Süd, are reportedly in discussions over whether to sell to the shipping line, or retain their interest in the company.
With the industry currently going through a period of consolidation; mergers, acquisitions and alliance-building activity has spiked in 2016.
Recent deals have seen the merger of Hapag-Lloyd and UASC, as well as Nippon Yusen, Mitsui O.S.K Lines and K-Line.
Maersk could be the frontrunner to buy Hamburg Süd, should it be put up for sale, having announced its growth strategy would no longer rely on ordering new ships, but instead grow through acquisitions.
With a meeting between family members reportedly taking place on Wednesday November 30, it is understood there is a split over whether or not to retain the carrier.
