Friday, July 10, 2009

Hapag-Lloyd is saved, for now

From the Journal of Commerce

Hapag-Lloyd, the world’s fifth largest container carrier, will get approximately $1 billion in financial support from its owners as it seeks additional aid from the German government and lenders.

click here for complete article

There are a lot of numbers thrown around. A mention of $2.4 Billion. Probably everyone is scratching their head and writing down numbers on napkins.

Who really knows.

But in my opinion, this is throwing good money after bad, or, as they say in the oil patch, pouring money down a dry hole.

Anyway, I would say Hapag-Lloyd is in a whole heap of trouble.

No comments: