Shipping line buy-out rumours abound

Ray Smuts
PERSISTENT RUMOURS that the Danish A.P.Moller Group - owners of Maersk Sealand and Safmarine - are intent on acquiring P&O Nedlloyd have left the Cape Town shipping community both bemused and amused.
Last week this correspondent heard the same story from two entirely different sources in freight and shipping, consequently firing off e-mails to those at the helm of both companies.
Responded Peter Ehrenreich, managing director of Maersk South Africa: “There are many rumours in the market place every day. I can’t comment on any of them but I am happy that I never hear rumours that Maersk is being bought.”
His counterpart at P&O Nedlloyd, Barry New, had this to say: “There do appear to be rumours circulating in the market concerning future plans for P&O Nedlloyd. I thought they had evaporated before Christmas but it seems they are back. There is no substance that I am aware of.”