HAPAG / MAERSK
Verfasst: Do 12. Jun 2008, 11:07
Hapag-Lloyd commanding Maersk’s attentions
MAERSK Line continues to keep an eye on Hapag-Lloyd, the German container line at the centre of intense takeover speculation, writes Janet Porter.
Chief executive Eivind Kolding said in an interview with a German newspaper that he was not ruling out any possibilities on the acquisition front.
His remarks were almost identical to those made to Lloyd’s List at the end of April when he said a bid for Hapag-Lloyd should not be excluded.
Both Mr Kolding and AP Moller-Maersk chief executive Nils Andersen have said on numerous occasions that returning Maersk Line to profit was their top priority. But they also insist that further industry consolidation is necessary to transform container shipping into a stable business devoid of sharp freight rate swings.
While not actively seeking out takeover targets at this stage in Maersk Line’s recovery programme, the company would still be prepared to tackle another container shipping acquisition despite the problems of absorbing P&O Nedlloyd.
“If the right acquisition opportunity comes along, we will look at it,” Mr Andersen said in an interview with this newspaper last March.
That position remains unchanged.
Mr Kolding told Deutsche Logistik-Zeitung that he was sceptical about the €5bn ($7.8bn) price tag that some analysts have attached to Hapag-Lloyd.
Singapore’s Neptune Orient Lines is still regarded in industry circles as the frontrunner to acquire Hapag-Lloyd that has been put up for sale by its owner Tui. German interests are also putting together a bid in an effort to keep the Hamburg line in local hands.
Tui has prepared a sales prospectus for Hapag-Lloyd and said this will be sent to more than 10 potential bidders in the next few days.
Mr Kolding has said that container shipping is still too fragmented and requires fewer players to end freight rate volatility and enable container lines to be able to develop their business without the boom and bust conditions that have characterised the industry until now.
MAERSK Line continues to keep an eye on Hapag-Lloyd, the German container line at the centre of intense takeover speculation, writes Janet Porter.
Chief executive Eivind Kolding said in an interview with a German newspaper that he was not ruling out any possibilities on the acquisition front.
His remarks were almost identical to those made to Lloyd’s List at the end of April when he said a bid for Hapag-Lloyd should not be excluded.
Both Mr Kolding and AP Moller-Maersk chief executive Nils Andersen have said on numerous occasions that returning Maersk Line to profit was their top priority. But they also insist that further industry consolidation is necessary to transform container shipping into a stable business devoid of sharp freight rate swings.
While not actively seeking out takeover targets at this stage in Maersk Line’s recovery programme, the company would still be prepared to tackle another container shipping acquisition despite the problems of absorbing P&O Nedlloyd.
“If the right acquisition opportunity comes along, we will look at it,” Mr Andersen said in an interview with this newspaper last March.
That position remains unchanged.
Mr Kolding told Deutsche Logistik-Zeitung that he was sceptical about the €5bn ($7.8bn) price tag that some analysts have attached to Hapag-Lloyd.
Singapore’s Neptune Orient Lines is still regarded in industry circles as the frontrunner to acquire Hapag-Lloyd that has been put up for sale by its owner Tui. German interests are also putting together a bid in an effort to keep the Hamburg line in local hands.
Tui has prepared a sales prospectus for Hapag-Lloyd and said this will be sent to more than 10 potential bidders in the next few days.
Mr Kolding has said that container shipping is still too fragmented and requires fewer players to end freight rate volatility and enable container lines to be able to develop their business without the boom and bust conditions that have characterised the industry until now.