German north/south specialist carrier Hamburg Sud today confirmed to American Shipper that it is in talks to buy Italian shipping company Costa Container Lines.
Genoa-based CCL is owned by the Orsero family's GF Group and operates a fleet of 29 vessels with a combined slot capacity of about 34,000 TEUs, ranking it 31st in the world. CCL has a worldwide staff of about 450 and generated revenue of 427 million euros ($570 million) in 2006.
From its Mediterranean base it serves the Canary Islands, Turkey, Canada, Mexico, the Caribbean (including Cuba), and Central and South America.
Media reports suggest the deal with Hamburg Sud will see GF retain its terminal operations in Vado Ligure and its owned vessels, believed to stand at seven ships aggregating 7,130 TEUs.
Hamburg Sud wouldn't comment on what stage the discussions have reached, and no one from CCL was available at the time of writing.