Berlin sets timing for Hapag-Lloyd state aid
Patrick Hagen, Berlin - Friday 21 August 2009
THE Berlin government will decide on Hapag-Lloyd’s application for state guarantees by mid-September, the country’s maritime co-ordinator Dagmar Wöhrl told journalists in Berlin today.
Hapag-Lloyd has asked the government for guarantees totalling €1.2bn ($1.7bn), covering loans provided by banks HSH Nordbank, HVB and KfW.
The request is the biggest application from any maritime company, Mrs Wöhrl said. She did not reveal further names of shipowners asking for help but at least one other German owner has already applied.
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