Hapag-Lloyd Launches Notes Offering

Image Courtesy: Hapag-Lloyd

German shipping major Hapag-Lloyd has launched a euro bond offering with a volume of EUR 300 million and a maturity of seven years.

As informed, the proceeds will be used for the early redemption of the company’s euro bond due in 2018 and the early partial redemption of the euro bond due in 2019.

Currently, the redemption is envisaged for October this year, according to Hapag-Lloyd.

On May 24, Hapag-Lloyd closed the merger with the UAE-based liner shipping company United Arab Shipping Company (UASC), expecting annual synergies of USD 435 million from 2019 onwards.

A significant portion of these savings should be realized in the course of 2018, while the full amount is expected to first be reached in 2019, the company earlier said.

UASC’s 58 vessels have been integrated into the fleet of Hapag-Lloyd, with Hapag-Lloyd assuming the fifth spot in terms of capacity with 230 vessels and a shared fleet capacity of approximately 1.6 million TEU.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Singapore Maritime Week 2018

Singapore Maritime Week (SMW), organised annually by Maritime and Port Authority of Singapore (MPA) and attracts…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >