After posting the notice Hapag-Lloyd sent to customers, I wondered what official notice they might have on their web-site.
They have one. It has words, without really saying anything.
Here is the link (I can't copy it)
They of course want to assure everyone they are OK, they claim their consultants say they are "well positioned in a long-term attractive growth market".
Oh, those wonderful consultants.
Now, after not commenting on the notice from Hapag-Lloyd, I do feel inclined to offer some unsolicited advice to Hapag-Lloyd.
Number 1 - Please start listening to Mr. Kuehne. In fact, you should appoint him as the chairman of the board, and he can clean house.
Number 2 - Fire your consultants. They are empty talking suits who will take as much money from you as possible, without delivering anything of value.
Number 3 - Start downsizing staff as much as you can. I realize Germany has laws, but you need to accept these are desperate times. All executives should be taking massive pay cuts, and there should be pay cuts at every level. Funding for retirement accounts (where legal to do so) should cease.
That "long-term attractive growth market" your consultants speak of? The problem is the growth was already anticipated, the ships ordered. In order to survive until there is an upturn, you will need to get your costs down - getting more loans is not the total solution.