Hapag-Lloyd swung to a €54.2 million ($72.6 million) net loss in the second quarter from a €20.9 million profit a year ago as falling freight rates and a weaker dollar offset a modest increase in container traffic.
08 Aug 2014
Troubles in the Pacific Northwest dominated the news this week.
06 Aug 2014
The U.S. Department of Justice and the Federal Trade Commission cleared the planned merger between Hapag-Lloyd and Compania Sud Americana de Vapores, which will create the world’s fourth-largest ocean container line.
05 Aug 2014
CSAV has raised $108 million from its shareholders to enable it to complete the financing for seven container ships under construction and to meet conditions of its planned merger with German container line Hapag-Lloyd.
01 Aug 2014
The G6 Alliance is performing abysmally compared with its competitors when it comes to schedule reliability, according to a new SeaIntel report.
02 Jul 2014
The ink was hardly dry on Hapag-Lloyd’s merger deal with Chilean carrier CSAV when departing chief executive Michael Behrendt raised the prospect of acquiring an Asian container line.
06 Jun 2014
Despite recent improvements, global container lines’ schedule reliability and on-time container delivery have been worse every month so far this year versus last year.
29 May 2014
In announcing sharply lower losses for the first three months of the year, CSAV said it expects to close on a merger agreement with Hapag-Lloyd in the fourth quarter.
13 May 2014
Hapag-Lloyd today pinned its financial future to the expansion of the G6 Alliance into the key east-west liner trades and its takeover of Chile’s CSAV, as its first-quarter loss widened and revenue declined.
22 Apr 2014
The planned merger of Germany’s Hapag-Lloyd and Compañia Sud Americana de Vapores (CSAV) moved closer after shareholders controlling just 2.7 percent of the Chilean company’s stock voted against the deal that will create the world’s fourth-largest ocean container carrier.
16 Apr 2014
Hapag-Lloyd and CSAV signed a binding contract to complete a merger to create the world’s fourth-largest container line.
08 Apr 2014
The 2013 financial reporting season for container lines ended for many carriers in a sea of red ink as high bunker prices and weak freight rates combined to drag down profits.