Hapag Lloyd AG (HLAG.DE)
11 Dec 2018
Tue, Jul 10 2018
FRANKFURT The chief executive of German container shipping liner Hapag Lloyd 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].
FRANKFURT 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.
* Mid-term fundamentals positive, but trade wars a threat (Adds reference to M&A talk, business environment)
FRANKFURT, July 10 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.
LONDON/FRANKFURT The world's no. 3 container shipping line, CMA CGM of France, has made an exploratory approach to German rival Hapag-Lloyd over a possible merger as players in the sector hunt for tie-ups to beat depressed conditions, finance sources say. | Video
FRANKFURT, June 29 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.