Friday, July 24, 2009

Is Hapag-Lloyd close to bankruptcy?

Lloyd's List has a lenghty article today regarding the current situation at Hapag-Lloyd.

It says they are asking shipowners for charter price cuts, similar to what was received by CSAV. This, in addition to needing more cash from their shareholders.

I find this a bit disturbing, because I thought they negotiated with the shipowners last month, with the shipowners investing money in the company in exchange for equity.

At the time, I thought it was a bad move not to get lower charter rates, but maybe this was the plan all along.

I doubt it. I think things are worse than they thought.

This comment really caught my eye.

Without financial aid from its shareholders, the line would face bankruptcy within weeks, industry insiders said.

click here for link to complete article

1 comment:

Anonymous said...

I work at Maersk; a customer told me that he hears rumours of CMA and Hapag merging. That ought to shake things up!