# Hapag-Lloyd looks to cut costs further



## shamrock (May 16, 2009)

The containership company is under pressure from it's owners, the German Tourism company TUI and the Albert Ballin Corporation to trim harder to save money....

http://www.lloydslist.com/ll/news/hapag-lloyd-looks-to-cut-costs-further/20017671075.htm


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## Alistair Macnab (May 13, 2008)

See my comments under 'Crunch Time for Box Ships'.


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## shamrock (May 16, 2009)

H-L's largest shareholder is under pressure...

http://www.lloydslist.com/ll/news/bad-new-puts-pressure-on-tui-share-price/20017671659.htm


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## shamrock (May 16, 2009)

TUI are going to be assisting with H-L's finances...

http://www.travelweekly.co.uk/Artic...o-inject-emergency-funds-in-shipping-arm.html



> TUI Travel's controlling shareholder, German-based TUI AG, has performed a u-turn by investing in container shipping line Hapag-Lloyd months after trying to exit the shipping sector and sell a majority stake in the company.
> 
> TUI will provide €215 million in short-term financing - about two-thirds of a €330 million cash injection into Hapag-Lloyd, in which TUI retains a 43% stake.
> 
> ...


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## duquesa (Aug 31, 2006)

*Hapag -Lloyd*

This deal has been on the table for some time as have the attempts by HL to reduce global costs. My son has been with them for years where he is Liner Planning Manager for HL in the Grand Alliance. They have consistently performed somewhat better than some of their competitors since the financial squeeze started to make itself felt thought that is not saying they are doing well - who is? They are rather top heavy in office staff personel in Germany but not so in other bases such as the USA where my son is. It is thought likely there will be a severe slimming down in the Fatherland.


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## shamrock (May 16, 2009)

TUI finally puts ink on the deal...

http://www.ft.com/cms/s/0/4eb13d6c-8875-11de-82e4-00144feabdc0.html



> Tui, the German travel group, has agreed a rescue deal for Hapag-Lloyd, which should guarantee the struggling container shipping line's long-term survival.
> 
> The deal ends weeks of talks between Hapag Lloyd's owners about financing for the world's sixth-biggest container ship fleet, and paves the way for the company to file an application for €1.2bn ($1.7bn) in German state aid as early as today.
> 
> ...


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