The GF Orsero Group of Italy and Hamburg-Süd are in negotiations for the sale of Costa Container Line (CCL) to the German north/south specialist carrier. CCL serves the Canary Islands, Canada, Mexico, the Caribbean including Cuba and Central and South America from the Mediterranean. The heirs of recently deceased Raffaello Orsero, owner of the fruit trader and logistics operator group, have decided that the Italian shipping company is not strategic to their operation, although it will remain in the port business and keep a hand in ship owning. CCL operates a fleet of 30 vessels (mostly under charter) with a combined capacity of 35,000 TEU –ranking the company 31st in the world; a worldwide staff of 450 people and generating euro427M ($575.9M) turnover, carrying about 360,000TEU/year. It also has a significant programme of newbuildings under construction in Poland and Japan. GF will retain its terminal operations in Vado Ligure and ownership of its eight reefer-container vessels, aggregating over 7,000 TEUs, which will be chartered to Hamburg-Süd. GF spokesman Antonio Orsero said that the cash generated by CCL the sale would be re-invested in its logistics and port operations. Staff at Costa Container Line in Brazil are worried that they will lose their jobs if the takeover goes ahead, sources in Brazil told Fairplay. One CCL employee in Sao Paulo said that there had been rumours of the takeover since April, but the confirmation of talks was causing serious concern. A line manager for a rival shipping line in Sao Paulo said: “It makes sense and it would be a neat fit. Hamburg-Süd is a strong North-South trader but CCL is very strong in the Caribbean where the German operator is are quite weak. Looks like good business for Hamburg-Süd.”
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