MSC founder eyes Hapag-Lloyd stake as top holders control 60%

MSC's billionaire founder is pursuing a stake in German rival Hapag-Lloyd, a move that would deepen consolidation in container shipping.

MSC founder Gianluigi Aponte is pursuing a stake in Hapag-Lloyd, targeting a German shipping line whose two largest shareholders each hold 30%, Manager Magazin reported.

"Aponte has been in talks with Hapag-Lloyd's main shareholders for some time despite being brushed off," Manager Magazin reported, citing people familiar with the matter.

German billionaire Klaus-Michael Kuehne and Chilean shipping company Compania Sud Americana De Vapores each hold 30% in Hapag-Lloyd, LSEG data show. MSC and Hapag-Lloyd did not immediately respond to requests for comment, while a Hapag-Lloyd spokesperson declined to comment to Manager Magazin.

A successful deal would strengthen MSC's position as the world's largest container line by combining with the fifth-ranked carrier, potentially reshaping competition on Europe-Asia and transatlantic trade routes. Any transaction above a certain threshold would require approval from German and European antitrust authorities.

MSC, led by Aponte since its founding in 1970, has expanded aggressively through fleet growth and acquisitions, surpassing Denmark's A.P. Moller-Maersk as the industry leader in recent years. Hapag-Lloyd, formed through a merger of German shipping lines in 2005, operates a fleet of more than 250 vessels.

The approach comes as container shipping's consolidation wave, which has seen the top carriers increase their market share over the past decade, shows no signs of slowing. The industry has used profits from elevated freight rates during the pandemic to strengthen balance sheets, giving carriers the financial capacity for strategic transactions.

This article is for informational purposes only and does not constitute investment advice.