By Mike Wackett (The Loadstar) - Hapag-Lloyd has belatedly joined the rush to install scrubber technology on its container vessels, ahead of the IMO 2020 0.5% sulphur cap. Speaking during the carrier’s Capital Markets Day this week, chief operating officer, Anthony Firmin, said that the availability of exhaust gas cleaning systems was now extremely tight. “If you wanted … [Read more...]
Hapag-Lloyd Optimistic for Full Year as Operating Profit Rises
By Vera Eckert FRANKFURT, Nov 8 (Reuters) - German shipping group Hapag-Lloyd expects an increase in transport volumes to last for the remainder of 2018 after volume growth and a modest recovery in freight rates helped push operating profits 12 percent higher in the first nine months. Shipping is only slowly recovering from an oversupply of vessels that plunged the sector … [Read more...]
Hapag-Lloyd to Introduce IMO 2020 Fuel Surcharges from 2019
FRANKFURT, Oct 8 (Reuters) - German container shipping giant Hapag-Lloyd said on Monday it is preparing customers for a mechanism to charge more for cleaner fuel starting next year to comply with tighter environmental rules. The Hamburg-based firm said on Monday that it has developed what it will call a marine fuel recovery mechanism (MFR), which it will gradually introduce … [Read more...]
Hapag Lloyd Deepens Cost Cut Drive After H1 Loss Widens
FRANKFURT, Aug 10 (Reuters) - German shipping company Hapag Lloyd said it accelerated cost cuts in the first half of 2018 to offset higher operational costs from fuel costs, charter rates and a slow recovery in freight rates. "We have implemented additional measures to recover these costs: we are critically reviewing the economic viability of our ship systems and are further … [Read more...]
Hapag-Lloyd Names Newest LNG-Ready ULCS at London Gateway
Hapag-Lloyd AG officially named its newest containership 'AFIF' at DP World's London Gateway on Monday. The Ultra-Large Container Vessel (UCLV) has a capacity of 15,000 TEU, making it the second biggest ship in Hapag-Lloyd's fleet. The ship is 385.5 meters long and 51 meters wide. Afif is also one of Hapag-Lloyd's 17 "LNG-ready" ships, meaning it can be converted to … [Read more...]