Another shipping company with nearly a century of history withdraws from the shipping industry!

As the saying goes, one family is happy and the other is sad. CMA CGM's acquisition of Bolloré Logistics has been approved by the European Union. After both parties agreed to divest part of the business, the French shipping giant is one step closer to acquiring Bolloré's logistics business. At the same time, CMA CGM also issued an acquisition offer to British logistics company Wincanton, further expanding its territory in the logistics field.

Sanko Steamship has experienced many twists and turns since its establishment in 1934. In the 1980s, it became one of the shipping industry's biggest failures. However, the company did not fail, and in 2012, despite facing bankruptcy again, Sanko, which at that time had about 185 ships, left a deep impression on the shipping industry with its green hull logo; the company in December 2014 Completed reorganization under court protection and was reborn.

At its peak, Sanko, as a large-scale private shipping company in Japan, operated a diverse fleet including oil tankers, dry bulk ships, offshore vessels and very large liquefied gas carriers (VLGC), with a total of approximately 185 ships. .

However, bad luck happened. In October 2023, Sanko Steamship decided to sell the 11-year-old Panamax bulk carrier "Sanko Fortune" built by Sasebo Shipyard to an unknown person for US$21 million. Greek shipowner reveals identity. At this time, Sanko's fleet only has one bulk carrier "Sanko Hawking" built in 2021 and with a deadweight tonnage of 82,514 tons.

With the sale of this last ship, this well-known Japanese shipping company with a history of nearly a century has completely withdrawn from the stage of history, which is regrettable.With approval from the European Commission, CMA CGM is one step closer to acquiring Bolloré’s logistics business.

According to Reuters, the European Commission has approved the sale of Bolloré's logistics business to the French container shipping company after both parties agreed to divest part of the business. Specifically, CMA CGM and Bolloré have reached an agreement to divest certain operations involving Guadalupe, Martinique, St. Martin and French Guinea, as well as some French assets related to these operations, to meet EU regulatory requirements.

In early February this year, CMA CGM agreed to divest Bolloré Logistics’ shipping business in French Polynesia and its Polynesia-related business in France in order to successfully obtain acquisition approval in French Polynesia.

According to CMA CGM estimates, after the successful acquisition of Bolloré Logistics, its global logistics business will rank among the top five, second only to DHL global Forwarding, Kuehne+Nagel, DSV and DB Schenker. This strategic acquisition will further consolidate CMA CGM’s position in the global logistics market.

It is reported that CMA CGM has increased its offer to acquire British logistics company Wincanton to approximately US$766 million in cash in response to the emergence of another potential competitor.

The new offer, made by CMA CGM through its CEVA logistics unit, is about $47 million to $48 million higher than the initial offer in January. The initial offer at that time represented a 52% premium to Wincanton's share price.

It was revealed that the board of directors of Wincanton, a London-listed logistics company, has unanimously recommended accepting the increased final offer. Nonetheless, the company also revealed that it has been approached by an unnamed potential competitor but has not yet submitted a formal offer.

CEVA said on Monday it had received commitments from investors Aberforth Partners and The Wellcome Trust, which hold more than 16% of Wincanton's shares, to accept the takeover bid, while investors holding another 19.4% have also confirmed their support for the deal.

Under the leadership of Rodolphe Saadé, the French shipping company has made a series of acquisitions in the logistics sector, including Bolloré Logistics and Ingram Micro's commercial and life cycle businesses. The company has also been aggressively snapping up port terminals, aviation and media businesses, backed by profits from the container shipping boom.

Wincanton, which has a history of nearly a century, is involved in the food, consumer goods, fuel and defense markets in the UK