DHL-owner Deutsche Post buys ship freight firm for €1.5bn in cash to ease global shortages

Global supply chains have been pushed towards breaking point by Covid-19 and natural disasters, threatening flows of raw materials, parts and consumer goods, according to companies, economists and shipping specialists. File picture

DHL-owner Deutsche Post is acquiring ocean freight forwarder JF Hillebrand Group for €1.5bn in cash, as part of a strategy to strengthen its core logistics operations.

The move comes as shortages of freight capacity – both ocean and air – have pushed up shipping costs globally, with the coronavirus pandemic also extending port waiting times due to labour shortages and traffic disruptions.