Hapag-Lloyd

Like many other companies involved in the liner business, Hapag-Lloyd also implemented reorganization programs in the past few years in order to confront stagnant to falling freight rates and intense global competition.

Hapag-Lloyd has been hurt by the devaluation of the dollar, like many other companies, as most of its revenues are dollar denominated while most of its expenses are denominated in other currencies, such as the Deutsche Mark.

Following the containership sector’s trend, Hapag-Lloyd has been actively seeking the formation of alliances (consortia) with other liner companies, aiming to increase operational efficiencies, greater market presence and alleviation from the increased investment demands. Hapag-Lloyd has joined forces with NYK, Neptune Orient Lines and P&O to serve the Northern Europe/Asia route and USEC/Asia route via the Suez canal.

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