By Vera Eckert HAMBURG, March 22 (Reuters) - German container group Hapag-Lloyd is on course to achieve better earnings and further reduce debts this year as it cuts costs and benefits from merger savings in an improving shipping industry, it said. "We see fairly stable demand growth and the fundamentals are favourable," Chief Executive Rolf Habben Jansen said on a call with … [Read more...]
MAN Hired for World’s First Megaship Conversion to LNG Fuel
MAN Energy Solutions has signed a contract for the conversion of a 15,000 TEU container vessel to dual-fuel LNG operation. The container vessel MV SAJIR is owned by Hapag-Lloyd, one of the world's leading liner shipping companies, and normally serves a route from Asia to northern Europe via the Suez canal. The pilot project will entail the conversion of an existing, … [Read more...]
Containership Companies Cleared In U.S. Investigation
by Vera Eckert (Reuters) - The world’s two biggest container shipping companies on Tuesday said they have been cleared in an investigation of the sector by the U.S. Department of Justice (DoJ). Denmark’s Maersk and Switzerland’s Mediterranean Shipping Company (MSC) were among several companies ordered to testify in an antitrust investigation that began in 2017 over practices … [Read more...]
Hapag-Lloyd Operating Profit Rises 32 Percent
by Vera Eckert (Reuters) - Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday. Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros … [Read more...]
Trade Spats Could Dampen Shipping Growth in 2019 -Hapag Lloyd CEO
FRANKFURT, Feb 13 (Reuters) - An escalation of tariff wars between China and the United States could dampen growth in international container shipping as operators pre-emptively brought forward business in the second half of last year, Germany's Hapag Lloyd said. "Many customers tried to get their goods through to the U.S. ahead of time in second half 2018, creating … [Read more...]