Moody’s Upgrades Hapag-Lloyd Ratings, Outlook Stable 1

Moody’s Upgrades Hapag-Lloyd Ratings, Outlook Stable

Additionally, Moody’s upgraded the company’s probability of default rating (PDR) to B1-PD from B2-PD and its senior unsecured bond ratings to B3 from Caa1, with a stable outlook. “Our rating action reflects Hapag-Lloyd’s progress in integrating...
Hapag-Lloyd First In World To Convert Large Container Ship To LNG 2

Hapag-Lloyd First In World To Convert Large Container Ship To LNG

Retrofitting of the 15,000 TEU vessel “Sajir” to use LNG propulsion / Pilot project paves the way for converting large ships to LNG / 15 to 30 percent less CO2 emissions possible Hapag-Lloyd will retrofit its...
Hapag-Lloyd First to Convert Large Containership to LNG 3

Hapag-Lloyd First to Convert Large Containership to LNG

The contract for the retrofitting was signed last week with Hudong HONDHOA Shipbuilding, the company said, adding that the conversion would be carried out in the Shanghai-based shipyard Huarun Dadong Dockyard. During its time in the...
Hapag-Lloyd Pays Off Bond Early 4

Hapag-Lloyd Pays Off Bond Early

The senior note was issued in February 2017 with an aggregate principal amount of EUR 450 million. The annual coupon is 6.75 percent. As informed, the partial redemption will be done from cash proceeds, predominantly resulting...
Hapag-Lloyd Declares General Average on Yantian Express 5

Hapag-Lloyd Declares General Average on Yantian Express

General Average is a principal in maritime law under which all parties with a financial interest in the voyage are to proportionally share the losses resulting from an incident. It allows the costs to preserve a...
Update: Tugboat to Tow Hapag-Lloyd’s Disabled Boxship to Halifax 6

Update: Tugboat to Tow Hapag-Lloyd’s Disabled Boxship to Halifax

On January 7, 2019, the 95-meter-long tugboat was en route to the 7,506 TEU boxship which was some 1,015 miles northeast of Bermuda, according to the USCG. The German-flagged container vessel caught fire on January 3...
Container Fire On The Yantian Express; Crew Successfully Evacuated 7

Container Fire On The Yantian Express; Crew Successfully Evacuated

On 3 January, a fire broke out in one container on the deck of the Yantian Express and spread to additional containers. Due to bad weather conditions, the fire has not been successfully contained yet and...
THE Alliance to Deploy Over 249 Ships in 2019 8

THE Alliance to Deploy Over 249 Ships in 2019

THE Alliance revealed that it would deploy a fleet of more than 249 ships connecting 76 ports throughout Asia, North Europe, the Mediterranean, North America, Canada, Mexico, Central America, the Caribbean, Indian Subcontinent, the Middle East...
Hapag-Lloyd’s 15,000 TEU Container Ship “Al Jmeliyah” Christened In Rotterdam 9

Hapag-Lloyd’s 15,000 TEU Container Ship “Al Jmeliyah” Christened In Rotterdam

The 15,000 TEU ship “Al Jmeliyah” was officially christened in Rotterdam. Naming patron is Inge Sijbesma, the wife of Feike Sijbesma, CEO of the corporation DSM – one of Hapag-Lloyd’s biggest customers in the Netherlands. The...
Increased service quality and efficiency with enhanced Mediterranean – U.S. East Coast service 11

Increased service quality and efficiency with enhanced Mediterranean – U.S. East Coast service

Hapag-Lloyd, Ocean Network Express, and Yang Ming have announced the strategic cooperation with CMA-CGM, COSCO, and OOCL to enhance their Mediterranean – U.S. East Coast service AL6 (Atlantic 6). The aim of this cooperation is to...