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¡¡¡¡Hapag-Lloyd achieves steep earnings rise in 2nd quarter
¡¡¡¡TUI AG reported that Hapag-Lloyd saw its second quarter EBITA reach USD183 million, up from EURO 5 million in the same period in the previous year. TUI's revenue from container shipping for the period improved 2.6 % to EURO 1.51 billion (USD2.4 billion).
¡¡¡¡Hapag-Lloyd's global container volumes in the second quarter increased 3.7% to 1.43 million TEUs, while the average freight rate per TEU jumped 16.2% to USD,568 from USD1,350.
¡¡¡¡NOL and Hamburg in Hapag-Lloyd second round
¡¡¡¡Neptune Orient Lines and the Hamburg consortium have confirmed they have been invited into the second stage of bidding for Hapag-Lloyd.
¡¡¡¡NOL submitted a preliminary bid on July 21th. In the next stage, Hapag-Lloyd's parent Tui will open the books of the shipping line for due diligence by the chosen bidders. "Any agreement would be subject to, among other steps, due diligence, submission and acceptance of NOL's final bid, regulatory approvals and NOL shareholders' approvals," NOL said.
¡¡¡¡The Hamburg consortium, led by Kuhne+Nagel's chairman Klaus-Michael Kuhne, which is backed by Hamburg's state government, has also been admitted to the second round of the tender.
¡¡¡¡NOL president and chief executive Ron Widdows said that any acquisition of Hapag-Lloyd would be part of a long-term growth strategy and would not necessarily depend on current conditions in the container shipping market.
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