Roubled German shipping line Hapag – Lloyd will not return to profitability for another year according one of the major shareholders.

Speaking to the Welt am Sonntag newspaper Klaus-Michael Kuehne, the
logistics supremo who also holds the controlling stake in Swiss
transport group Kuehne + Nagel, said that he didn’t “…expect a profit
at Hapag next year either”.

He did however state that he remained optimistic that with volumes and
rates rising and with Hapag-Lloyd undergoing restructuring for cost
efficiencies that the worst of the company’s hardships were now behind
it.

Hapag is expected to post an operating loss of $1 billion for this year.

Source: Handy Shipping Guide

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• Kuehne nail Chairman Wants To Raise use in Hapag-Lloyd

    Kuehne & Nagel International AG’s executive chairman and majority owner Klaus-Michael Kuehne said he is interested in raising his private stake in Hapag-Lloyd AG.

• Hapag-Lloyd Kuehne Investor urges tie-up

     Klaus-Michael Kuehne, shareholder in Hapag-Lloyd, is pushing for a tie-up of the German container shipping company with peers in Europe or Asia to secure Hapag-Lloyd’s long-term survival.  Kuehne, one of the biggest shareholders in a consortium that bought a 57 percent stake in Hapag-Lloyd from German tourism group TUI AG earlier this

• Hapag-Lloyds strategy pays off

    Hapag-Lloyd, the world’s sixth-largest container carrier, is set to move from financial intensive care into operational convalescence.

• Hapag-Lloyd to gain 923 million-euro cash injection

    German shipping line Hapag-Lloyd AG may receive a 923 million-euro ($1.32 billion) cash injection from owners including the city of Hamburg as the company seeks to bolster its chances of receiving a federal loan guarantee. The capital increase approved today by the city’s government is more than the 750 million euros

• Hapag-Lloyd may EU300 million credit, Ahrons Says

     Hapag-Lloyd AG, Germany’s largest container-shipping line, will get an emergency credit of 300 million euros ($429 million) provided all its shareholders agree, a lawmaker said.  The cash injection will be part of a 1.75 billion-euro rescue package by lenders and shareholders including TUI AG to secure Hapag-Lloyd’s long-term viability, Barbara Ahrons, a

• Hapag-Lloyd owner prepared to the lifeline

    The owners of Hapag-Lloyd are preparing to give the container shipping company further 420 million euros ($595.9 million), several people familiar with the situation told Reuters. “It is still undecided whether TUI will inject further cash or transform existing loans to Hapag into equity,” said a source close to TUI. The latter

• Hapag-Lloyd slashes quarterly loss

    Hapag-Lloyd, Germany’s largest ocean container carrier, drastically reduced losses in the final three months of the year on substantial freight rate increases on some routes but is forecast to remain in the red through 2010. Operating losses widened to $29 million in the three months to end-December from $11.4 million

• TUI Falls as the FT reports Germany Hapag may not get state aid

    TUI AG, the biggest stakeholder in the Hapag-Lloyd shipping line, fell the most in two weeks in German trading after Financial Times Deutschland said Hapag’s bid for state aid may be derailed by the European Union. Hapag wants loan guarantees worth 1.2 billion euros ($1.76 billion) from Germany’s federal government, an

• Hapag-Lloyd announces the general increase effective 15 February 2010

    Please be advised that effective February 15, 2010, Hapag-Lloyd will increase rates for all commodities (Dry Containers) for cargo from the U.S.A. to East Asia follows: • USD 100/40ft (USD 80/20ft) for Long Beach, CA and Los Angeles, CA origins
• USD 150/40ft (USD 120/20ft) for all other origins East Asia

• CMA CGM, Maruba and Hapag-Lloyd South combine services

    CMA CGM, Maruba and Hapag-Lloyd are collaborating in a regular weekly service between Northern Europe and the east coast of South America. Read at CMA CGM, Maruba and Hapag-Lloyd combine South America services

• Connect to CMA CGM, Hapag-Lloyd Maruba and South America Services

    CMA CGM, Maruba and Hapag-Lloyd are collaborating in a regular weekly service between Northern Europe and the east coast of South America. Read at CMA CGM, Maruba and Hapag-Lloyd combine South America services

• EU challenges Hapag-Lloyd loan

    European Union regulators are challenging the German government’s $1.7 billion loan guarantees to Hapag-Lloyd, the country’s biggest ocean container carrier, which narrowly avoided a loss in the fourth quarter.

• Zim: New service to Asia-South America East Coast

     Zim Integrated Shipping Services Ltd, Compania Chilena de Navegacion Interoceanica (CCNI), (A Chilean shipping company, part of the Empresas Navieras holding), Hanjin Shipping Co., Ltd, Hapag-Lloyd and Wanhai Lines have announced they will cooperate on a new Asia – South America East Coast service, effective April. ? The new service will serve

• Zim: New service to Asia-South America East Coast

     Zim Integrated Shipping Services Ltd, Compania Chilena de Navegacion Interoceanica (CCNI), (A Chilean shipping company, part of the Empresas Navieras holding), Hanjin Shipping Co., Ltd, Hapag-Lloyd and Wanhai Lines have announced they will cooperate on a new Asia – South America East Coast service, effective April. ? The new service will serve

• TUI board rebuffs Fredriksen Bid

    Hapag-Lloyd co-owner TUI on Monday rejected the latest bid by its biggest shareholder John Fredriksen, the Norwegian shipping tycoon, for a seat on the TUI supervisory board. TUI said the board unanimously nominated Klaus Mangold as a successor to supervisory board member Juergen Krumnow, who had previously announced he was