Hapag-Lloyd: æSuper-size meÆ
Hapag-Lloyd said Monday it is ordering four 13,200-TEU ships and modifying an earlier order in February 2008 for six 8,750-TEU ships to the same larger size with Korea’s Hyundai Heavy Industries.
The company also said it has repurchased its headquarters and hired an advisor for an initial public offering of stock. The company is owned by German tourism company TUI and a group of private investors.
“These 10 large vessels are scheduled for delivery between mid-2012 and the end of 2013 and comply with all current environmental requirements. The vessels are intended for service on the Far East routes operated jointly with the partners in the Grand Alliance,” the German carrier said. Its Grand Alliance partners are NYK and OOCL.
'This is a clear sign that Hapag-Lloyd has returned to its previous position of strength and will take advantage of its opportunities to grow profitably,' said Michael Behrendt, chairman of the executive board of Hapag-Lloyd. 'The step up to the next vessel size is as well-considered as it is important for Hapag-Lloyd. The repurchase of our Ballin-House, which we are especially pleased about, is also of great symbolic value.'
In addition to these investments, Hapag-Lloyd said it has been able to pay financial liabilities amounting to some 600 million euros (about $793 million) back to its shareholders.
The company also said it has engaged Deutsche Bank as its advisor for an envisaged IPO. ' Chris Dupin