OOIL tumbles after 93pc drop in earnings

Growth in demand fails to offset rising fuel costs

Friday, 1 August, 2008, 12:00am

German firm lifts profit 20pc in year

German shipping and logistics conglomerate Hapag Lloyd Group battled record low market conditions last year to boost comparative net profit 20 per cent to 230 million euros (about HK$1.6 billion).

3 May 2002 - 12:00am

Alliance boosts PAX service

The Grand Alliance - Hapag Lloyd, Malaysia International Shipping Corp (MISC), NYK Line, Orient Overseas Container Line and P&O Nedlloyd - has announced an improved schedule for the pendulum service between Asia, North America and Europe from July.

8 Jun 1998 - 12:00am

Vessel orders for Kvaerner

Anglo-Norwegian conglomerate Kvaerner has won shipbuilding orders totalling 1.35 billion krone (about HK$1.35 billion). The first contract has been placed by Germany's Hapag-Lloyd for a 410-passenger cruise ship for delivery in 1999. The second is for two ice-breakers for Dutch shipyard Wagenborg Shipping for delivery late next year.

5 Dec 1997 - 12:00am

Hapag-Lloyd to buy cruise ship

German travel and shipping group Hapag-Lloyd says it intends to order a new cruise vessel to replace its existing flagship Europa which has been sold to Star Cruises.

Hapag-Lloyd said the 'Cruise Ship 2000', as it has dubbed the project, would be in the luxury class and have 420 berths.

26 Nov 1997 - 12:00am

Hapag-Lloyd in travel takeover

Hapag-Lloyd plans to take over German travel services group Touristik Union International (TUI), making it the largest travel group in Europe. The merger could boost Hapag-Lloyd's annual sales from less than five billion deutschemarks (about HK$21.86 billion) to about 12 billion marks.

15 Sep 1997 - 12:00am

Singapore executive appointed

The board of Hapag-Lloyd has appointed Rudiger Mack as managing director of Hapag-Lloyd (Asia), Singapore, taking over from Wulf Dehn.

Mr Mack starts work this month.

Mr Dehn is moving to New York to take on a similar position managing business activities in the western hemisphere.

14 Jul 1997 - 12:00am

German lines in alliance talks

Germany's Hapaq-Lloyd is in talks to co-operate in container shipping with Hamburg Sued, a unit of the German family-owned food company Dr August Oetker, a report says.

The companies confirmed talks but said there was no foundation to reports they would merge their container shipping operations to form a new liner company to be 75 per cent-owned by Hapag-Lloyd.

25 Oct 1996 - 12:00am

Heavy port charges in region to be studied, says Hapag-Lloyd executive

Shipping lines will be forced to continue with corporate productivity and restructuring measures to survive and are not likely to enjoy prosperity over the next three years, a shipping executive says.

18 Sep 1996 - 12:00am

P&O to rationalise through sales and a flotation

Peninsular and Oriental (P&O), the British shipping, construction and property investment group which owns 25 per cent of Shekou Port and has an interest in Hong Kong's Modern Terminals, is to rationalise its activities.

27 Mar 1996 - 12:00am

NOL races to third award

Neptune Orient Lines (NOL) has announced it has been awarded the '1995 Star Performers' awards at the Liner Analysis awards ceremony for fastest transit times in the Pacific Atlantic Express (PAX) service in the Europe and West Coast North America route. It is the third consecutive year that NOL has won the award.

22 Mar 1996 - 12:00am

Hapag-Lloyd gets Shanghai foothold

HAPAG-LLOYD (China) has gained approval to be established in Shanghai from the Ministry of Foreign Trade and Economic Co-operation and the Ministry of Communication.

22 Jan 1996 - 12:00am

Michael Allwood is new HKLSA head

MICHAEL Allwood has taken over as chairman of the Hong Kong Liner Shipping Association (HKLSA) from Sunny Ho of Swire Shipping Agencies, who ended his two-year term last month.

Mr Allwood is managing director of Hapag-Lloyd in Hong Kong.

12 Jan 1996 - 12:00am

Flag move to hit 150 jobs

HAPAG-LLOYD says it will switch its freight ships to a flag of convenience to reduce personnel costs.

The move will affect about 150 sailors and will save the German shipping company up to two million deutschemarks (about HK$10.9 a year.

10 Nov 1995 - 12:00am

Shipping company targets Shanghai

GERMAN shipping group Hapag-Lloyd expects to get a full operating licence for the Shanghai area this summer, executive board Gunther Casjens says.

Pending approval from Beijing, Hapag-Lloyd (China) has been set up in Hong Kong to look after the company's mainland operations.

26 May 1995 - 12:00am