Skip to main content

Hapag-Lloyd scales back size of planned IPO

JOCMaritime NewsContainer LinesHapag-Lloyd

JOC Staff | Oct 14, 2015 3:37PM EDT

Hapag-Lloyd is scaling back plans for its initial public offering, and now plans to seek $300 million instead of the $500 million as it had previously announced.

The world’s fifth-largest carrier by container-carrying capacity is one of several German companies that have had to scale back their capital-raising efforts in an uncertain financial market.

The company’s two largest shareholders, CSAV with a 34 percent stake and Kuhne Maritime with 21 percent, will reduce their shares in the IPO to $30 million apiece from the previously planned $50 million.

To compensate for the lower expected capital from the IPO, Hapag-Lloyd also plans to obtain a $125 million loan from Berenberg, Deutsche Bank and Goldman Sachs.

Hapag-Lloyd said it expects the IPO to begin trading on Oct. 30, following an offer period extending from Oct. 15 to Oct. 17. The anticipated share price is 23 to 29 euros per share ($26-$33).

Hapag-Lloyd will announce its third-quarter earnings Nov. 11. The company in the first half posted an operating profit of 267.7 million euros, compared with a loss of 101.5 million euros a year earlier. Net profit for the six months was 157.2 million euros, compared with a 173.3 million-euros loss in the first half of 2014.

The bulk of the IPO proceeds are expected to fund a down payment on an order for several large container ships. The new vessels will mark a major investment for Hapag-Lloyd, whose largest ships have a capacity of around 14,000 twenty-foot-equivalent units.

Hapag-Lloyd is considering orders for a limited number of 18,000-TEU vessels but no decision has yet been made, CEO Habben Jensen said at the JOC’s Europe Container Trade conference in Hamburg in September.

Popular posts from this blog


While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???

In alphabetical order by Country....



Alphonso (mango)
From Wikipedia, the free encyclopedia

Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 

It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 

Chip Somodevilla/Getty Images

While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.

The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.

With Trump on the campaign trail, Melania has stoically stood by his side.

But who exactly is Melania and where did she come from? Learn about Trump's other half here ...

Melania Knauss was born April 26, 1970, in Slovenia.


The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.

Chris Hondros/Newsmakers via Getty

She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.



But after graduating, her modeling career took off and Me…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST

Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.

However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.

Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.

Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…