Shipping giant AP Moller-Maersk has completed the acquisition of Senator International for $644m as it looks to boost its presence in forwarding and airfreight.
Maersk said that Senator brings with it a well-developed airfreight network comprising own controlled flights and long-term partnerships with airlines, a well-established full container load (FCL) and less than container load (LCL) network, and specialized services such as packaging, warehousing, and distribution across five continents.
“The acquisition will enable Maersk to offer an even wider range of products and the ability to provide flexible and integrated logistics solutions to our customers,” the company said. “Allowing them to speed up or slow down cargo depending on their changing supply chain needs.”
Maersk explained that in the past two years, knock-on effects of Covid-19 have led to widespread congestion and production issues and more of its customers are requesting alternative means of cargo transportation.
“By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact. It’s a perfect match, and we are really excited about the next chapter in our united journey,” said Tim-Oliver Kirschbaum, chief executive of Senator International.
Maersk has also launched its own cargo airline this year and purchased US forwarder Pilot Freight Services.
Maersk’s ambition is to have approximately one-third of the annual air tonnage carried within its own controlled freight network, which will be achieved through a combination of owned and leased aircraft.
The remaining capacity will be provided by strategic commercial carriers and charter flight operators.