Maersk set to swoop on Senator International?
25 / 10 / 2021
Shipping giant AP Moller Maersk is in discussions to takeover Hamburg-based freight forwarder Senator International.
Air Cargo News sister publication DVZ reports that the talks are at an advanced stage and a deal could be announced this week.
Both companies declined to comment to DVZ.
The deal would continue Maersk’s push into supply chain services.
Last year, the shipping firm, which owns the world’s largest box line in terms of capacity, integrated its freight forwarding arm, Damco.
Later in the year it also launched airfreight forwarding operations and has announced several other supply chain initiatives.
Meanwhile, Senator International is a medium-sized freight forwarder with a strong presence in air cargo.
As well as its forwarding activities, the company also offers a growing air charter operation that flies between Asia, Europe and North America.
The company was launched in 1984 and has grown to more than 1,700 employees working in 65 locations in Europe, Asia, Africa, and North and South America.
According to the latest annual report from 2019, Senator reported a turnover of around €405m; airfreight accounted for almost 60% of the turnover, with the sea freight division accounting for the remaining 40%.
The company generated EBIT of around €46m in the reporting period and net profits of €3.5m.
According to DVZ, BMW is one of Sentor’s major customers.
Maersk is not the only shipping giant expanding in freight forwarding and airfreight.
CMA CGM has launched its own cargo airline and invested in large freight forwarder CEVA in 2019. The company recently placed an order for B777 freighters.
Maersk launches airfreight forwarding operations with charter flights
CEVA to be de-listed as CMA CGM is set to gain a 98% shareholding
