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Published: May 2006      

Happy times for Hapag-Lloyd

Hapag-Lloyd is now the world’s fifth largest container carrier in terms of fleet capacity, which has rocketed from 225,000 to 412,886 TEU with the acquisition of CP Ships. Previously Hapag-Lloyd was ranked No. 13 and CP Ships No. 17. CP Ships was the “perfect fit” for Hapag-Lloyd because there was very little overlap in services, said executive Board chairman Michael Behrendt in London last month.

The German carrier had its eye on CP Ships for a long time, but the takeover of P&O Nedlloyd by Maersk made the deal even more important.“It was just luck that we bought CP Ships when we did,” said Behrendt.With P&ONL pulling out of The Grand Alliance, it would not have been possible for Hapag-Lloyd to continue direct services to some destinations, such as Australia, with its own fleet....


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