HAPAG / MAERSK

[Der Johann]

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.

[Jochen]

Wer immer auch Hapag erwerben wird (richtigerweise muß es ja heißen: an wen auch immer Hapag verscherbelt wird), mit der Eigenständigkeit dürfte es wohl vorbei sein. Maersk könnte Schwierigkeiten mit den EU-Kartellbehörden bekommen, aber wenn eine Dänin in Brüssel die Landwirtschaft verwaltet und selbst zu den größten Landwirten zählt, dürfte auch das zu überwinden sein, Und wenn nicht, kauft eben MOL und teilt sich dann den ganzen Kram. Ein Hoch auf diese Manager, hoch sollten sie hängen.
Gruß Jochen