DEUTSCHE REEDEREI BUYS H. STINNES LINIEN FROM HANJIN

DEUTSCHE REEDEREI BUYS H. STINNES LINIEN FROM HANJIN    Deutsche Seereederei has bought back H. Stinnes Linien GmbH, the Hamburg-based multipurpose shipping line, from Hanjin Shipping.
   The    company    that eventually became H. Stinnes Linien was established in 1992, when the Europe/Cuba/Mexico services of Deutsche Seereederei and Hugo Stinnes Schiffahrt GmbH merged. In 1998, the company was renamed H. Stinnes Linien GmbH.
   “Deutsche Seereederei, represented by its subsidiary Reederei Hansa, and Prescher Anlagenbau, acquired 100 percent of the registered capital of H. Stinnes Linien GmbH at the end of December 2001,” H. Stinnes said in a statement.
   The core business of H. Stinnes is the operation of a fortnightly multipurpose liner service from Europe to Mexico, Venezuela and the West Indies. Furthermore, the multipurpose carrier provides weekly container services from Europe to East Africa and South Africa.
   Karl-Ludwig Zerbin will remain the managing director of H. Stinnes.
   H. Stinnes said that it will replace its current ships by new tonnage, increase its share capital, and strengthen the direct presence of the company in overseas markets to intensify sales activities.
   “The new shareholders will focus on the line’s expansion in its capacity as an efficient and reliable niche carrier,” the company said.