A.P. Moller – Maersk Completes Acquisition of Freight Forwarding Company Senator International

A.P. Moller – Maersk (Maersk) announces the closing of the acquisition of Senator International, a well-renowned global company in freight forwarding.

Senator brings with it a strong organization and a well-developed airfreight network comprising own controlled flights and long-term partnerships with best-in-class airlines, a well-established full container load (FCL) and less than container load (LCL) network and specialized services such packaging, warehousing and distribution across five continents.

The acquisition will enable Maersk to offer an even wider range of products and the ability to provide flexible and integrated logistics solutions to our customers, allowing them to speed up or slow down cargo depending on their changing supply chain needs.

In the past two years, knock-on effects of Covid-19 have led to widespread congestions and production issues. As a result, more customers are requesting alternative means of cargo transportation.

Senator will add their broad industry expertise and product knowledge to Maersk’s existing network and thus provide customers with increased flexibility and redundancy in their supply chains.

The enterprise value of the transaction on a post IFRS 16 basis is approximately USD 644m as announced on 2nd of November assuming unchanged FX rate.

Senator’s deep experience and solid transport network will be key to the continued joint success, and we will bring new opportunities to our customers under the Maersk brand.

Maersk’s ambition is to have approximately one third of the annual air tonnage carried within its own controlled freight network, which will be achieved through a combination of owned and leased aircraft.

The remaining capacity will be provided by strategic commercial carriers and charter flight operators.

Reference – Press release

A.P. Moller – Maersk Completes Acquisition of Freight Forwarding Company Senator International appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News