Friday, October 2, 2009

Hapag-Lloyd still on track for monies from German government

From Bloomberg News

Oct. 2 (Bloomberg) -- Hapag-Lloyd AG was cleared to receive German government loan guarantees as part of a 1.2 billion-euro ($1.7 billion) rescue package to help the country’s biggest container shipper counter the recession.

Federal aid was approved today by a panel of government officials led by the Berlin-based Economy Ministry, a ministry official said. The deal will be formally signed on Oct. 5 after the government answers residual questions raised by parliament’s budget committee about the aid package, the official said.

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