Hamburg Sud takes over liner activites of Costa Container Lines and Calmedia

Hamburg Sud and GF Group S.P.A wish to inform that a Sale and Purchase Agreement has been entered into by Hamburg Sud, GF Group, Costa Container Lines S.P.A. (CCL), and Calmedia Agenzia Marittima S.R.L., on the take over of the CCL liner services by Hamburg Sud in the following trades:
- Western Mediterranean / East Coast South America
- East Coast South America / Caribbean and Mexico
- Western Mediterranean / North Coast of South America and Caribbean
- Italy / Turkey and Greece
- Italy / Algeria
- Italy / Syria, Lebanon and Egypt

With a transport volume of approx. 360,000 TEU, CCL generated a turnover of some 440 million EUR in 2006.

Hamburg Sud will take over the CCL organization including its land based staff in Italy as well as of the CCL agency subsidiaries in Europe, Central and South America. Hamburg Sud will also assume the business related contractual relationships of CCL including customer contracts, time charter, leasing, terminal and stevedoring, agency and other service provider agreements.

Hamburg Sud will furthermore take over the CCL container fleet and will be chartering the CCL / GF Group owned container vessels.

Subject to the completion of the consultation process with the staff representatives in Italy and to the approval by the competent antitrust authorities the transfer of the business is scheduled to become effective on December 1, 2007.

GF Group will maintain its presence in the shipping sector both through the chartering of vessels owned by CCL or other group companies and through the operation of conventional reefer ships complementing the GF Group core activities in the international fruit trade. GF Group will also strengthen its activity as port service provider, in particular in the Savona-Vado terminal, where an increase of volumes and trade is foreseen.

Hamburg Sud will continue using the well established Costa Container Lines brand and is confident that by adding the CCL business and by integrating the experienced CCL staff and staff of its agencies it will further strengthen the position of Hamburg Sud in the core North / South trade lanes and the service network provided to its customers.