With its acquisition of CP Ships
, it is said that Hapag-Lloyd now belongs to the Top 5 in global container shipping. In 2005, Hapag-Lloyd ag
ain increased its profit, improving slightly on the record level for the previous year.
“The acquisition of CP Ships is a giant step forward in securing the future of Hapag-Lloyd and will also benefit the Hamburg economy. The strengths of the two companies complement one another superbly. Hapag-Lloyd is thus moving up into the top group of world container lines," said Michael Behrendt, chairman of the executive board of Hapag-Lloyd AG, at the presentation of the Business Review 2005. He noted that Hamburg will be home to the world's fifth largest shipping line.