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Hapag-Lloyd: No Imminent Ship Orders In Mind, May Look To Order in 2020/21
Hapag-Lloyd CEO Says Bunker Costs To Rise Significantly From Dec. 1
Hapag Lloyd 9-mth EBIT Up At EUR 643 Mln
Hapag Lloyd AG is a Germany-based company primarily engaged in the marine freight and logistics sector. The Company focuses on providing liner services between all continents. Its fleet comprises container vessels with capacity up to 10,500 twenty-foot equivalent units (TEU). Its products and services include e-business solutions, security information services, special cargo services, reefer solutions, customs clearance, as well as US flag services, among others. The Company also offers online tracing services for its clients. It operates worldwide in over 100 countries.
Chairman of the Supervisory Board
Rolf Habben Jansen
Chairman of the Executive Board, Chief Executive Officer
Oscar Eduardo Hasbun Martinez
Chief Executive Officer, Member of the Supervisory Board
Second Deputy Chairman of the Supervisory Board
First Deputy Chairman of the Supervisory Board, Employee Representative
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The chief executive of German container shipping liner Hapag Lloyd <HLAG.DE> said he was not aware of major merger activities in the sector a day after a Reuters report said his company had been approached by French rival CMA CGM [CMACG.UL].
German shipping company Hapag-Lloyd is cutting costs to cope with a rise in fuel prices that led it to slash full year earnings forecasts last month, its chief executive told shareholders on Tuesday.
German shipping company Hapag-Lloyd is to cut costs to combat runaway price increases in bunker fuels that caused it to slash full year earnings forecasts last month, its chief executive told shareholders on Tuesday.
The world's no. 3 container shipping line, CMA CGM of France, has made an exploratory approach to German rival Hapag-Lloyd <HLAG.DE> over a possible merger as players in the sector hunt for tie-ups to beat depressed conditions, finance sources say.
German container shipping line Hapag-Lloyd slashed its full-year profit forecast, saying that freight rates had recovered more slowly than expected while fuel and charter costs had ballooned.
German shipping line Hapag-Lloyd has stopped one of two feeder services to Iran and will decide on the remaining one before a Nov. 4 deadline imposed by the United States, which has reimposed sanctions on Tehran.
* Approves new cruises ship for Hapag-Lloyd brand (Adds CEO comments, details on summer bookings)
Europe's largest travel and tourism group TUI Group said it had approved construction of another cruise ship for its Hapag-Lloyd cruise business and that summer trading was good as it reported second quarter results.
Demand for shipping is growing and could outpace the supply of new vessels next year, helping to boost profits at Hapag-Lloyd <HLAG.DE> as it also reaps the benefits of a recent merger, the German company said on Wednesday.
German shipping group Hapag-Lloyd sees demand for transport growing 4 percent in 2018 and expects more shipping firms to merge in the year, the chief executive said.
* Shares rise as much as 15 pct (Recasts, adds comments from CEO, shares)
* More consolidation underway in world market (Adds details from analysts call and interview)
Logistics entrepreneur Klaus-Michael Kuehne has raised his shareholding in German container shipping line Hapag-Lloyd <HLAG.DE> to 17.15 percent from 14.1 percent, his Swiss-based Kuehne Holding said on Thursday.
Europe's largest tourism group, TUI AG, said it had completed the sale of its remaining shares in container shipper Hapag-Lloyd, raising net proceeds of 244 million euros ($278 million).
Europe's largest tourism group TUI Group said on Monday it had sold its stake in container shipper Hapag-Lloyd <HLAG.DE>, bringing to a close plans for the sale of non-core businesses in order to focus on its tourism operations.
* DISPOSES ALL REMAINING SHARES IN HAPAG-LLOYD AG Source text for Eikon: Further company coverage: (Gdynia Newsroom)
Hapag-Lloyd's merger with Arab Shipping Company, which is owned by six Gulf states, is proceeding as planned, despite the row between Qatar and its neighbors, a source at the German shipping group told Reuters on Friday.
Qatar's row with its powerful Gulf neighbours should not scupper the just-agreed merger of German shipping company Hapag-Lloyd with sector peer United Arab Shipping Company (UASC) that is owned by six Arab states of the Gulf region, a source close to Hapag-Lloyd said.
German shipping company Hapag-Lloyd <HLAG.DE> confirmed on Wednesday that it is looking to cut up to 12 percent of its almost 11,000 land-based workforce after completing its merger with Arab peer UASC last week.
Hapag-Lloyd <HLAG.DE> and Arab sector peer UASC are focused on speedy integration, Hapag's chief executive said after the German company announced completion of their delayed merger to creates the world's fifth-biggest shipping company.
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