NEWS\\\


Issue 1 2019 - Freight Business Journal


7


DB Cargo and Maritime Transport join forces


Railfreight operator DB Cargo UK has signed a pact with container and logistics operator Maritime Transport


to combine


“in an increasingly difficult market place”. Property developer Segro


their


expertise to increase capacity at two of the UK’s main ports. A new Maritime Intermodal


division will initially run four dedicated services out of Felixstowe and Southampton. DB Cargo UK will be contracted to run Maritime Intermodal’s rail operations out of the two ports while Maritime Intermodal will take on responsibility for DB Cargo UK’s inland terminals at Trafford Park, Manchester and Wakefield in West


Yorkshire. Maritime


Intermodal is also committed investing in equipment and groundworks at the two sites, improving turnaround times and increasing container storage capacities. The


terminals will remain


open-access to both intermodal and non-intermodal services. As well as existing services, Maritime


Intermodal will seek additional services from all UK ports with all freight operating companies. Maritime Intermodal will take


on responsibility for DB Cargo UK’s existing intermodal customers on its Felixstowe and Southampton services. DB Cargo UK will retain its


remaining intermodal business including flows to and from Scotland. DB Cargo UK chief executive,


Hans-Georg Werner, said the deal: “Will enable DB Cargo UK to focus on what it does best – the efficient and reliable running of rail freight services, while giving Maritime


the platform to offer its customers further capacity to move its container traffic.” He added: “Intermodal is the


fastest growing freight market, yet our terminals were under-utilised. Maritime is a very successful logistics business and has the volumes and desire to turn these assets


into sustainable and


profitable distribution centres. It’s a real win-win and we look forward to working with Maritime going forward.” For Maritime Group, executive


chairman John Williams, added that the new division would offer increased resources to customers


SEGRO has meanwhile signed a 25-year lease with Maritime Transport to operate the rail freight interchange at its Logistics Park East Midlands Gateway, where the first train is due to operate in Autumn 2019. The 22.5 acre rail terminal


will be capable of handling up to sixteen 775m-long freight trains daily and will provide storage capacity for over 5,000teu of cargo.


A purpose built 20,000 sq


ſt office will become the rail headquarters of the Maritime Intermodal division when the office element of the site opens in Summer 2020. The site, roughly equidistant


between Nottingham, Leicester and Derby has planning consent for up to 6m sq ſt of


logistics


accommodation – a third of which is already under contract.


DSV makes bid for Panalpina


Danish-owned DSV says that it has made an indicative and private proposal to acquire fellow Swiss-headquartered forwarder Panalpina. It has offered 1.58 DSV shares and CHF (Swiss francs) 55 in cash for each Panalpina share which, based on closing prices on 11 January, is worth CHF170 per share. DSV says this is a premium of 24% to Panalpina’s closing share price of CHF137.50 on that date. At press date, DSV said it had


not yet received a response to its proposal from Panalpina’s board. DSV says that the combined


company “would create a leading global transport and logistics company with significant growth


opportunities” and it


would be “a unique opportunity for both companies and their respective stakeholders including shareholders, employees, customers and suppliers.” The combined business would


have expected revenues of more than DKK (Danish krone) 110bn and annual earnings of more than DKK7bn, excluding any synergy benefits, adds DSV.


It is not the Danish giant’s


first attempt to acquire a major competitor. Late last year it made a failed bid to acquire Ceva Logistics. Equity analyst David


Kerstens said that there had been increasing pressure from Panalpina’s shareholders to consider takeover talks, following the decision in November by chairman Peter Ulber not to stand for re-election at next year’s AGM. The Ernest Goehner foundation controls a 45.9% stake in


the


company, but patience is running out with Panalpina’s


performance compared with the rest of the freight sector, said Kerstens. Other firms including


Kuehne+Nagel might also be interested in buying Panalpina, but DSV was probably best- positioned, Kerstens added. Later, on 28 January, Ceva


Logistics said that it had rejected a CHF30 per share offer from CMA CGM – which already holds a stake in the forwarder – for the remaining shares in the company, saying that it was too low.


lacklustre


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