FRANKFURT, July 13 (Reuters) - Logistics entrepreneur Klaus-Michael Kuehne has raised his shareholding in German container shipping line Hapag-Lloyd to 17.15 percent from 14.1 percent, his Swiss-based Kuehne Holding said on Thursday. Kuehne was taking advantage of shares being sold by TUI , which on Tuesday completed the disposal of its remaining 7.9 percent of shares to … [Read more...]
TUI Sheds its Stake in Hapag-Lloyd
FRANKFURT, July 10 (Reuters) - Europe's largest tourism group TUI Group said on Monday it had sold its stake in container shipper Hapag-Lloyd, bringing to a close plans for the sale of non-core businesses in order to focus on its tourism operations. TUI Group has been investing in more of its own hotels and cruise ships since it was formed from the merger of TUI AG and TUI … [Read more...]
Hapag-Lloyd Becomes Latest Carrier to Bring in Container Booking Cancellation Fee
By Gavin van Marle (The Loadstar) - Hapag-Lloyd has become the latest container shipping line to introduce a cancellation/no-show fee, as carriers appear increasingly intent on penalizing shippers and forwarders that book slots on services but don’t arrive with the cargo on time. The German carrier has announced a $60 fee for all export shipments from Singapore to India from … [Read more...]
Hapag-Lloyd to Cut More Than a Thousand Jobs After Merger
FRANKFURT, May 31 (Reuters) - German shipping company Hapag-Lloyd 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. A spokesman at Hapag-Lloyd's Hamburg headquarters said the job cuts would be made over the next 18 months to two years, confirming a report in … [Read more...]
Hapag-Lloyd Completes Merger with UASC
FRANKFURT, May 24 (Reuters) - Hapag-Lloyd 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. Reuters reported last week that closure of the deal, which is valued at between 7 billion euros and 8 billion euros … [Read more...]
Hapag-UASC Tie-Up Nears Completion as Funding Snags Overcome -Sources
By Jonathan Saul and Arno Schuetze LONDON/FRANKFURT, May 18 (Reuters) - German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 … [Read more...]
Hapag-Lloyd Sees Higher Earnings in Full Year 2017
FRANKFURT, May 12 (Reuters) - German container shipping firm Hapag-Lloyd on Friday said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost savings. "The outlook is fairly positive," Chief Executive Rolf Habben Jansen said in a video interview on the company's website. "Supply and demand are getting closer … [Read more...]