Hapag Lloyd Ag News

The Port of Los Angeles has recognized the achievements of more than two dozen shipping lines and carriers for participating in the Port’s Vessel Speed Reduction Program (VSRP), an air quality and annual incentive program for vessel operators who reduce their speed as they approach or depart the port.The voluntary program is one of many sustainability efforts currently underway at the Port to reduce emissions and decarbonize operations.Emission reductions are achieved under the…

German shipping company Hapag-Lloyd announced it has signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate.Additionally, Hapag-Lloyd AG signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s shareholding to 40%. The contracting parties agreed to not disclose any financial details of the deal.J M Baxi Ports & Logistics Limited is a private terminal and inland transport service provider in India.

Hapag-Lloyd AG and SM SAAM have signed a binding agreement under which Hapag-Lloyd will acquire 100 % of the shares of SAAM Ports S.A. and SAAM Logistics S.A. and thereby the entire company’s terminal business and associated logistics services.The contracting parties agreed upon a price of around $1 billion, which also includes real estate assets related to the logistics business.Chile-based SM SAAM is a terminal operator, logistics company, and towage provider active in multiple countries in the Americas.

German container shipping group Hapag-Lloyd announced it has begun a comprehensive five-year fleet upgrade program to improve the energy efficiency of ifs containership fleet. The program will require an investment "in the three-digit million range", Hapag-Lloyd said.The company said at least 86 of its ships will be equipped with new and more efficient propellers. The first to be upgraded, the 7,500 TEU Ningbo Express, will receive a new propeller optimized for energy efficiency by the German manufacturer MMG, to be installed in Dubai in September.

The Federal Maritime Commission approved a settlement agreement reached between its Bureau of Enforcement (BoE) and Hapag-Lloyd AG (Hapag-Lloyd) where the ocean carrier will pay a $2 million civil penalty to address alleged violations related to their detention and demurrage practices.“To restore full confidence in our ocean freight system, vigorous enforcement of FMC rules is necessary. Specifically, we must ensure powerful ocean carriers obey the Shipping Act when dealing with American importers and exporters.

Shipowner SFL Corporation Ltd. announced Monday that it has agreed to charter out six 14,000 TEU containerships to German container shipping line Hapag-Lloyd AG for a fixed period of five years, following the expiry of the vessels’ existing charters to another container line in 2023-2024.The vessels will have charter coverage until 2028-2029 at firm rates, reflecting the current strong container market, SFL  said.The new time charter contracts will add approximately $540 million to SFL’s fixed rate charter backlog, increasing the backlog to $3.8 billion, the company added. Ole B. Hjertaker, CEO of SFL Management AS, said, "We are excited to build a long term relationship with Hapag-Lloyd, who is the world’s fifth largest container line.

Hamburger Lloyd is selling the two widebeam containerships, RHL Constantia (IMO-No. 9495765) and RHL Calliditas (IMO-No. 9495777), to Hapag-Lloyd AG. Hamburger Lloyd will remain responsible for the technical management and crewing of the two freighters. With the purchase of the Constantia and the Calliditas, Hapag-Lloyd AG is expanding its fleet to a total of 17 units in the 4000-6000 TEU ship segment. The RHL Calliditas has already been deployed as a charter vessel for Hapag-Lloyd in the Swahili Express / Gulf India Africa service since 2019.

German container liner Hapag-Lloyd AG is confident of achieving higher earnings in 2020 as lower fuel prices cut shipping costs, demand in Asia recovers and fleet capacity is tight, chief executive Rolf Habben Jansen said on Friday."Oil prices have fallen sharply in the coronavirus crisis, that has given us tailwind, especially in the weak second quarter," said the head of the world's fifth biggest shipping firm in an interview with Reuters."Volumes have bounced back unexpectedly strongly in the third quarter and that will remain the case in the coming months," he added.A drop in bunker prices

German international shipping and container transportation company Hapag-Lloyd AG and compatriot logistics and transportation company Hamburger Hafen und Logistik AG (HHLA), will be continuing their close cooperation in Hamburg for another five years.On the basis of this decision, both companies will now be able to make necessary investments and boost their overall competitiveness, said a joint press release.Both parties have also agreed to intensify their collaboration on sustainability-related issues. For example, there are plans to make additional significant reductions in emissions in the Port of Hamburg and to work together to rigorously expand hinterland connections.“We are very pleased to be able to continue our longstanding, trusting and intensive collaboration.

German international shipping and container transportation company Hapag-Lloyd AG has opened a new Quality Service Center (QSC) in Mauritius. The QSC will explicitly serve Africa, one of Hapag-Lloyd's fastest growing markets.Quality Service Centers are an important cornerstone of Hapag-Lloyd´s Strategy 2023. They gather selected functions from different Areas under one roof, enabling synergies and delivering on the Quality Promises towards the customers.Hapag-Lloyd has already established several QSCs around the world - in Atlanta (USA), Suzhou (China), Kuala Lumpur (Malaysia), Mumbai (India), Bogota (Colombia), Viña del Mar (Chile) and Santos (Brazil).“Mauritius was chosen because the island provides a modern infrastructure…

Hapag-Lloyd AG appointed Mark Frese to the Executive Board effective November 25, 2019. On March 1, 2020, he will become the new Chief Financial Officer (CFO), replacing Nicolás Burr.Mark Frese (55) was most recently employed as the Chief Financial Officer of Ceconomy AG, the former Metro AG. Before that, he held various management positions at Metro AG and Kaufhof Holding AG.“When Mark Frese joins us, we will be gaining a very accomplished and highly skilled expert with extensive experience and knowledge of the financial sector. The Supervisory Board is convinced that, in its new composition, the Executive Board will remain excellently positioned to lead Hapag-Lloyd to continued future success…

German international shipping and container transportation company Hapag-Lloyd AG announced that it is expanding fleet on Atlantic Loop 3 service between the US and Europe."Our Atlantic Loop 3 Service (AL3) fleet is growing with the addition of the 4,248 TEU vessel “Rio Grande Express” sailing between the United States and Europe," the cargo container shipping line said in a statement."Upgrading to a 6 vessel rotation will improve the reliability of the AL3 service for our customers and support our strategy of being number one for quality," it added.The “Rio Grande Express” will be flagged under the United States, completing an entire loop of US Flag vessels…

German-based global cargo container shipping line, Hapag-Lloyd AG is expanding its digital product portfolio. As one of the first container shipping companies, Hapag-Lloyd is now offering its customers an online marine insurance."Quick Cargo Insurance" provides customers with tailor-made insurance offers around the clock. The insurance cover takes effect immediately upon conclusion of the contract."Not every cargo transported by sea is insured, yet. For instance, small and medium-sized customers often do not take out insurance for cost reasons. Our "Quick Cargo Insurance" proves that insurance does not have to be complicated and expensive…

The deepening and fairway widening program on the Elbe River officially launched yesterday (July 23)."The adjustment of the Elbe fairway will offer much better connections between the Port of Hamburg and the global flow of goods," said Dr. Maximilian Rothkopf, Chief Operations Officer of Hapag-Lloyd AG, during a groundbreaking ceremony held today to mark the official start of dredging operations.“Once the relevant work has been completed, the world’s largest container ships will be able to reach the City of Hamburg with virtually no limitations,” Rothkopf said. In addition to container liner shipping companies, he continued, this will ultimately also benefit customers worldwide…

German-based  cargo container shipping line Hapag-Lloyd AG is splitting its Region Europe into northern and southern parts. In doing so, the world’s fifth-largest liner shipping company will remain close to global markets and serve customers from a total of six regions effective immediately.The new Region South Europe, which will have its headquarters in the Italian port city of Genoa, aims to bolster Hapag-Lloyd’s competitive position in the Mediterranean region. It will include Area Italy, Area Iberia, Area Turkey, Area Egypt and Area Med Agents, which manages the company’s 15 agents in the region.The new head and senior managing director of Region South Europe will be Juan Pablo Richards…

German cargo container shipping line, Hapag-Lloyd AG, officially opened its headquarter for the new region.CEO Rolf Habben Jansen presented the keys of the office complex in Genoa (Italy) to the new Senior Managing Director Juan Pablo Richards.During the opening event, Habben Jansen explained the motivation to create a new region: “After our merger with UASC in 2017 the Mediterranean region has gained more importance for us. That's why we are eager to bolster our competitive position in this attractive and growing market and exploit further opportunities.”The new region was created by splitting the former Region Europe into northern and southern parts.

German cargo container shipping line, Hapag-Lloyd AG announced that it is currently testing ship-painting robots with nine of its ships."Traditional manual work is increasingly being replaced by automated processes, such as self-driving Automated Guided Vehicles in container terminals. Thanks to robots, the quality of ship painting can also be improved and the docking time shortened," the transnational transportation company said in a press release.Keeping barnacles, mussels and algae off the hull – the subject of fouling is as old as shipping itself. Fouling dramatically increases drag, which results in high fuel consumption and makes it harder to achieve climate targets.So…

German-based cargo container shipping line Hapag-Lloyd AG has placed a record order for 13,420 refrigerated containers, known as reefers, which are set for delivery in November 2019.A statement from the fifth biggest container shipping line in the world by market share said that production of 970 20-foot containers and 12,450 40-foot containers is already scheduled to commence as early as July.Delivery of the refrigerated containers, which have traditionally been white as opposed to Hapag-Lloyd’s orange standard containers, is set for November 2019 – or right in time for reefer season, as that is when harvest season begins in countries in the southern hemisphere.It will primarily be fruits and vegetables – such as blueberries…

German container shipping major Hapag-Lloyd AG has decided to fully redeem the outstanding EUR 280 million in aggregate principal amount of its outstanding 6.75 percent senior note due 2022 on 24 June 2019 at a fixed redemption price of 103.375 percent.The redemption will be done predominantly from available cash. EUR 100 million of the EUR 280 million will be paid from a drawdown of a CDS-based credit facility."The complete repayment of this senior note ahead of maturity is a clear step forward towards further deleveraging and optimizing our capital structure. We are making good progress in our efforts to achieve our leverage target and the reduction of cost of debt…

The  transnational German-based transportation company Hapag-Lloyd AG has entered into a new EUR 100 million revolving credit facility, to be made available for utilisation from 14 June 2019 for different maturities up to 18 months and subject to up to two years extension.Hapag-Lloyd AG may use the financing from the facility for general corporate purposes and to optimise its debt maturity profile and cost of capital, in line with its strategic objectives.The loans, under the facility, are intended to be eligible for settlement of market-standard credit default swap transactions.With a fleet of 235 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies.

German-based cargo container shipping line Hapag-Lloyd AG's shareholders approved the proposal of the Supervisory Board to re-elect Michael Behrendt to the Supervisory Board as a shareholder representative.After being re-elected to the Supervisory Board and following the AGM, Behrendt was also confirmed by his fellow Supervisory Board members as its Chairman. Michael Behrendt has been a member of the Supervisory Board of Hapag-Lloyd AG since 2014.“The clearness of the election results is an incentive for me. I would particularly like to thank the shareholders for their faith, and I look forward to continuing to work on the Supervisory Board as well as to enjoying the constructive support of the Executive Board…

German-based international cargo container shipping line Hapag-Lloyd AG announced an increased participation of two core shareholders, which has reduced the free float to below nine percent.“We naturally regret the reduced free float, but the demand among our anchor shareholders also underlines their interest in and commitment to Hapag-Lloyd as a strategic investment,” said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd AG.Shareholder structure of Hapag-Lloyd AG as of 18 June 2019: CSAV Germany Container Holding GmbH - 27.3%,  Klaus Michael Kühne (incl. Kühne Holding AG and Kühne Maritime GmbH) - 25.5%, Qatar Investment Authority…

German-based cargo container shipping line, Hapag-Lloyd AG expects Indian container market to grow further and it launches two new services."In response to growing demand, Hapag-Lloyd will offer more services from and to India. Two new services, the South East India - Europe Express (IEX) and the Middle East-India-Africa Express (MIAX), will enter into operation in October," the shipper said.Both the IEX and the MIAX will further strengthen and optimize Hapag-Lloyd’s market-leading position in India and connect the country even more closely to North Europe and Africa.“We believe in serving the needs of all Indian customers. To do that…