Søren Toft and MSC enter the logistics battle with a bid for African business

The world’s second-largest container line MSC is signaling a market change of strategy by offering USD 6.4 billion for French Bolloré Group’s logistics business. With this move, MSC is seeking to expand within logistics in line with its competitors CMA CGM and Maersk.

Photo: MSC - PR

Swiss-Italian MSC, with the former Maersk executive Søren Toft as its CEO, is now throwing itself into the ring with its rivals for the container market by acquiring logistics activities.

According to a statement from the French transport and media conglomerate Bolloré Group, MSC has bid for the French group’s extensive logistic activities in Africa.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs