Hapag-Lloyd

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Hapag-Lloyd AG

logo
legal form Corporation
ISIN DE000HLAG475
founding 1970
Seat Hamburg , GermanyGermanyGermany 
management Rolf Habben Jansen
(CEO)
Number of employees 13,000 (2019)
sales 12.6 billion euros (2019)
Branch Transport , logistics
Website www.hapag-lloyd.de
As of June 4, 2020

The Hapag-Lloyd AG is a transport and logistics company with headquarters in Hamburg .

history

Company headquarters on Ballindamm in Hamburg

From the foundation to the present

On September 1, 1970, Hapag-Lloyd AG (HLAG) was created through a merger of the two traditional shipping companies Hamburg-American Packetfahrt-Actien-Gesellschaft (HAPAG) in Hamburg and Norddeutscher Lloyd (NDL) in Bremen . HAPAG was founded in 1847 and Norddeutsche Lloyd in 1857.

Before the First World War, the network of routes operated by Hapag and North German Lloyd spanned the entire globe. Both companies suffered the total loss of their fleets as a result of the First and Second World War . In the respective post-war years, however, they managed to rebuild their fleets and continue operations. In view of the boom in container traffic that began at the end of the 1960s , the two companies merged to form Hapag-Lloyd AG in 1970 .

In 1971 HLAG, NYK , MOL , OCL and Ben Lines founded the "Trio" group, a consortium that offered full container services with joint timetable design between Europe and East Asia.

In 1981 HLAG put the world's largest container ship , the Frankfurt Express , into service with a  capacity of 3,045 TEU .

In February 1991, the trio consortium agreement was ended and instead a cooperation with the Japanese shipping companies Nippon Yusen Kaisha (NYK) and Mitsui OSK Lines started. In 1996, the Grand Alliance consortium (made up of NYK , Neptune Orient Lines (NOL) and Hapag-Lloyd) began operating in the East Asian business , and after being expanded to include British P & OCL, it became one of the leading providers of liner shipping in the region .

In 1997, Hapag-Lloyd presented the Kobe Express as the first ship in the London Express class , and in 2001 the Hamburg Express as the first of four new container ships in the Hamburg Express class , later renamed the Dalian Express class, with a capacity of each 7500 TEU in service. The fourth ship in this class, the Berlin Express, followed two years later . In 2001, the company also took a 25.1% stake in the Altenwerder container terminal (CTA) in Hamburg .

In 1997, 99.2% of Hapag-Lloyd was taken over by what was then Preussag . In 1998, Hapag-Lloyd increased its stake in what was then TUI from 30% to 50.1%, whereupon the tourism divisions of the groups were merged into the Hapag Touristik Union (HTU). In addition to TUI, this also included the airline and travel agencies of Hapag-Lloyd. In 2000, the HTU was renamed the TUI Group , which was absorbed directly into the parent company Preussag in 2001. The complete takeover of Hapag-Lloyd by Preussag was completed in August 2002. As early as June 2002, the general meeting decided to rename Preussag to TUI AG .

On August 21, 2005, the parent company TUI announced that it would take over the British-Canadian shipping company CP Ships for 1.7 billion euros . The shareholders of CP Ships agreed to the merger on 14 December 2005 after the management of the company a sell recommendation had already expressed, the acquisition was finally completed on 20 December of 2005. A capital increase by TUI of one billion euros was necessary for the takeover. As a result of the merger, which went hand in hand with further expansion of the Hapag-Lloyd ship fleet and the route network, the company rose to number 5 in the global container shipping industry.

In 2006 the former Hapag-Lloyd AG and Hapag-Lloyd Container Linie GmbH merged to form the new Hapag-Lloyd AG .

Sold by TUI

Container loading in the port of Hamburg ( CTA )

In March 2008 it became known that the parent company TUI wanted to sell its container shipping business, and thus Hapag-Lloyd AG , in order to concentrate on its originally own core business of tourism. According to press reports at the time, interested parties for a takeover included a Hamburg investor group led by Kuehne + Nagel owner Klaus-Michael Kühne and the personally liable partner of the bank MM Warburg Christian Olearius , as well as the shipping company Neptune Orient Lines (NOL) in Singapore . After the bidding process ended on July 21, 2008, the Hamburg investor group and NOL initially submitted non-binding bids , which TUI reportedly described as "disappointing" in terms of content.

On October 10, 2008, NOL withdrew its offer in the wake of the global financial crisis and the press assumed a future “Hamburg solution”. Just two days later, the TUI Supervisory Board met on this subject in order to buy the company Hapag-Lloyd together with the consortium Albert Ballin - whose spiritus rector and negotiator was Wolfgang Peiner - (but without Hapag-Lloyd Kreuzfahrten GmbH , which not was more part of Hapag-Lloyd AG and should also remain in the TUI Group), valued at 4.45 billion euros before net liabilities at the time. The Hamburg consortium was to pay 1.4 billion euros for two thirds of the shares in the company.

Due to the global financial crisis that started at the same time, Klaus-Michael Kühne was forced to reduce his originally planned indirect share. As a result, the TUI Group itself retained 43.3% and the consortium only took over 56.7%. In addition, TUI supported the shipping company with a credit line of one billion euros. Due to the continuing financial crisis and the associated lower transport volume, an austerity program was launched that already included around 745 million euros in savings in 2009 and was further expanded over the next few years. In addition to the financial injections from the owners, the federal government and the city of Hamburg approved a default guarantee for 90% of a loan in the amount of 1.2 billion euros as part of the economic stimulus package II in autumn 2009.

TUI was given the right to offer its share to the Albert Ballin consortium in 2012 . The Hamburg merchants for their part held a right of first refusal . On September 22, 2011, TUI announced that Hapag-Lloyd would return the unused federal-state guarantee and place a new 500 million dollar bond - with the stated aim of refinancing the full sale of the Working towards the shipping company. As agreed, the Albert Ballin consortium was dissolved at the end of September 2013.

On March 28, 2012, the Hamburg citizenship approved with the votes of the parties SPD and Die Linke 420 million euros for a further share purchase in the shipping company. This made the city of Hamburg the largest single shareholder in Hapag-Lloyd AG via HGV with 36.9% .

Associations and alliances

At the turn of the year 2012/2013, a merger with the shipping company Hamburg Süd was under discussion, but this failed.

At the beginning of 2014, Hapag-Lloyd and the Chilean shipping company Compañía Sud Americana de Vapores (CSAV) signed a letter of intent for a partial merger of the two companies, on April 16, 2014, a binding contract. After approval from all relevant competition authorities in December 2014, Hapag-Lloyd took over the container business of CSAV, which in return received 30% of the shares in Hapag-Lloyd. With around 200 ships and a total transport capacity of approx. 1 million  TEU , Hapag-Lloyd rose to become the world's fourth largest liner shipping company after Maersk , MSC and CMA CGM . After a capital increase of 370 million euros, in which CSAV participated with 259 million euros and Kühne Maritime with 111 million euros, at the end of 2014 CSAV (34.0%), HGV (23.2%), Kühne Maritime (20th , 8%) and TUI (13.9%) are the largest shareholders of Hapag-Lloyd.

In May 2016 "The Alliance" was founded with Nippon Yūsen , “K” Line , Yang Ming Line , Hanjin Shipping and Mitsui OSK Lines , which started operations in April 2017.

From April 2016 it was announced that Hapag-Lloyd was negotiating a merger with the United Arab Shipping Company ( UASC ). The merger was completed in May 2017. Hapag-Lloyd took over UASC including the entire fleet, while UASC's shareholders received 28% of the shares in Hapag-Lloyd. After the merger, Hapag-Lloyd's fleet consisted of 225 ships with a total transport capacity of 1.6 million TEU. At the end of March 2020, the Kühne-Holding subsidiary Kühne Maritim took over a 30% stake in Hapag-Lloyd.

Brands from Hapag-Lloyd

The Hapag-Lloyd travel agencies and the former subsidiary Hapag-Lloyd Kreuzfahrten are still directly owned by TUI . TUI also owns the airlines Hapag-Lloyd Flug and Hapag-Lloyd Express , but they have only been using the joint TUIfly brand since 2007 . In 2010 the company (until then still Hapag-Lloyd Fluggesellschaft mbH ) was officially renamed "TUIfly". The Hapag-Lloyd Executive division , which belongs to Hapag-Lloyd Express , used the “Hapag-Lloyd” brand in its external image until the end of 2013.

fleet

At the end of 2013, Hapag-Lloyd operated 151 container ships, 57 of which were owned, 7  leased and 87 chartered. The total capacity of the ships was 729,000  TEU . In 2015 there were 175 ships with a capacity of 946,000 TEU, the total container capacity was 1,613,000 TEU (January 1 to September 30, 2015). At the end of September 2019, Hapag-Lloyd had 231 ships, 112 of its own and 119 chartered ones, with a total capacity of 1,670,417 TEU, the container capacity was 2,555,867 TEU.

Container ship in the Port of Oakland, California

Cargo ships :

New to the cargo ship fleet since the merger with UASC :

Cruise ships (legally part of the TUI Groupsince 2008):

Training ships

Supervisory board

Michael Behrendt became Chairman of the Supervisory Board at the end of 2014 . From January 2002 to June 30, 2014 he was CEO. The supervisory board consists of twelve members; Deputy Chairman of the Supervisory Board is Klaus Schroeter (ver.di tariff coordinator) (as of December 2019).

Shareholder structure

As of March 2020, the most important shareholders are:

Shareholders proportion of
Klaus-Michael Kühne (including Kühne Holding AG and Kühne Maritime GmbH) 30.0%
CSAV Germany Container Holding GmbH 30.0%
Hamburg Society for Asset and Investment Management (HGV) 13.9%
Qatar Holding 12.3%
Public Investment Fund (PIF) of Saudi Arabia 10.2%
Free float 3.6%

See also

literature

  • Susanne Wiborg and Klaus Wiborg: 1847–1997. Our field is the world - 150 years of Hapag-Lloyd . Festschrift published by Hapag-Lloyd AG, Hamburg 1997, ISBN 3-921305-36-5 .
  • No world trade without us . Interview with Hapag-Lloyd boss Michael Behrendt. In: Der Spiegel 1/2007, p. 62 ff. ISSN  0038-7452 .
  • Hartmut Rübner: Concentration and Crisis in German Shipping. Maritime economy in the German Empire, in the Weimar Republic and in National Socialism . Hauschild, Bremen 2005.

Web links

Commons : Hapag-Lloyd  - collection of images, videos and audio files

Individual evidence

  1. ↑ Biography: Rolf Habben Jansen In: Hapag-Lloyd website. Retrieved August 22, 2019.
  2. ↑ a b Annual Report 2019. In: Hapag-Lloyd website. Retrieved June 4, 2020 .
  3. ↑ Far East Container Service . In: Hansa . Vol. 108, No. 22 May 1971, p. 2258 .
  4. ↑ cf. HL Annual Report 1991, p. 20.
  5. ↑ HL Timetable No. 2/1996 (February / March), editorial.
  6. ^ Preussag Annual Report 1997-1998 , p. 2.
  7. ↑ TUI Annual Report 2005 , p. 15.
  8. ↑ TUI Annual Report 2006 , p. 29f.
  9. ↑ Millionaires reach for Hapag-Lloyd. In: Welt Online. Retrieved March 18, 2008 .
  10. ↑ Bids for Hapag-Lloyd disappoint. (No longer available online.) In: www.ftd.de. Archived from the original on August 2, 2012 ; Retrieved July 22, 2008 .
  11. ^ Matthias Iken : HSH crisis: From restructuring to "bankruptcy torment." In: Hamburger Abendblatt website. July 17, 2009, accessed August 22, 2019.
  12. ↑ TUI only succeeds in selling Hapag-Lloyd with a billion-euro loan. In: Welt Online. Retrieved February 28, 2009 .
  13. ↑ HL annual financial statements 2009, p. 1.
  14. ↑ Green light for Hapag-Lloyd guarantee. In: www.dw.de. Retrieved September 27, 2010 .
  15. ↑ TUI is haggling over Hapag-Lloyd. (No longer available online.) In: www.ftd.de. Archived from the original on September 23, 2010 ; Retrieved September 27, 2010 .
  16. ↑ Hapag-Lloyd returns the state guarantee. (No longer available online.) In: www.ftd.de. Archived from the original on August 2, 2012 ; Retrieved September 27, 2010 .
  17. ^ Peter Kleinort: Consortium dissolved . In: Daily port report , October 24, 2013, p. 13.
  18. ^ Andreas Dey, Peter Ulrich Meyer: Hapag-Lloyd purchase was hanging by a thread. In: www.abendblatt.de. Hamburger Abendblatt , March 29, 2012, accessed on March 30, 2012 .
  19. ↑ Press release from Hamburgische Seefahrtsbeteiligung Albert Ballin GmbH & Co. KG and TUI-Hapag Beteiligungs GmbH. March 24, 2013.
  20. ↑ Eckhard-Herbert Arndt: The merger of Hapag-Lloyd and Hamburg-Süd is a “good idea” . In: Daily port report from February 20, 2013, p. 1/2
  21. ↑ Hamburg Senate regrets the failed shipping company merger . In: Daily port report , March 26, 2013, p. 1/2.
  22. ↑ Hapag-Lloyd: Merger perfect - profits again in 2016? NDR website, December 3, 2014.
  23. ↑ Hapag-Lloyd and CSAV: Merger is getting closer. ( Memento of March 8, 2014 in the Internet Archive ) NDR website, January 23, 2014.
  24. ↑ Hapag-Lloyd and CSAV seal the merger and create the fourth largest liner shipping company in the world. Hapag-Lloyd press release, April 16, 2014, accessed on April 18, 2014.
  25. ↑ Hapag-Lloyd: Fusion with CSAV perfect. NDR website, April 17, 2014.
  26. ↑ Hapag-Lloyd and CSAV merge and become the fourth largest liner shipping company in the world. Hapag-Lloyd website, December 2, 2014.
  27. ^ Ocean Alliances. (No longer available online.) In: www.flexport.com. Archived from the original on December 10, 2017 ; accessed on May 31, 2017 .
  28. ↑ Hapag-Lloyd founds a major alliance. (No longer available online.) In: www.dvz.de. May 13, 2016, formerly in the original ; accessed on May 31, 2017 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / www.dvz.de  
  29. ↑ Hapag-Lloyd Annual Report 2017 , p. 3.
  30. ^ Hapag-Lloyd and UASC complete merger. (No longer available online.) In: Hapag-Lloyd website. May 24, 2017, archived from the original on August 9, 2017 ; accessed on May 24, 2017 .
  31. ↑ Hapag-Lloyd and UASC complete merger. May 24, 2017, accessed September 24, 2017 .
  32. ↑ Hapag-Lloyd buys market power . In: Hansa , issue 7/2017, pp. 20/21.
  33. ^ Benjamin Klare: Kühne is a candidate for the supervisory board. In: Daily port report , May 29, 2020, p. 1
  34. ↑ Positive signs · Hapag-Lloyd . In: Deutsche Seeschifffahrt , issue Jan./Feb. 2016, p. 50/51, Association of German Shipowners eV, Hamburg 2016.
  35. ↑ Hapag-Lloyd nine-month report 2019, p. 9f.
  36. ↑ Supervisory Board. In: Hapag-Lloyd website. Retrieved August 21, 2017 .
  37. ↑ Shareholder structure. Hapag-Lloyd website, accessed on April 19, 2020.