Hamburg Sued Open to a Three-Way Alliance With Hapag-Lloyd/CSAV

[Vincent Milner]

Hamburg Sued Group, Germany

[Captain Ted]

This may be a good time for the SUED to take over HAPAG,, or at least be the 1st in the merger. They show since years financial stability which hardly can be said for HAPAG which had over it,s history a few encounters with near bankrupt situations where they only survived through governmental loan guarantees and other hand outs.
When HAPAG took over CP they seemingly severely overestimated their capabilities and CSAV is not known recently for it,s financial virtues either.

When the sued takes the helm of such an alliance one can see a good chance, but when HAPAG does it they standing soon again at the governmental subside troughs I fear.

[Vincent Milner]

Good Day Ted,

I totally agree with what you just said, Hapag reported "disappointing" results in 2013 with low freight rates very short of expectations,their revenue slipped drastically from

[Marc]

I don't agree. Hapag-Lloyds revenue maybe slipped, but profit raised! Have a look at their homepage:

Annual Report 2013

26 Mar 2014

Hapag-Lloyd improved its result and transport volume in 2013 financial year. EBITDA increased year-on-year, by EUR 54.6 million to EUR 389.1 million.

Source: http://www.hapag-lloyd.de/en/investor_relations/news_page_34211.html

[Captain Ted]

hi marc
Hapag= at least 2-3 times in financial problems
SUED = Zero times in financial problems

where you would invest

[N3lsoN]

hi marc

i'm looking at their homepage. the consolidated net income for the year 2013 was -97 m EUR. ok, better than -128 m EUR in 2012.

Moody's wrote "....the company has high adjusted debt. We would expect this to be very weak for the rating category at the end of the current year, with Moody's forecast of debt/EBITDA ratio exceeding 7.0x on adjusted basis."

Sounds this healthy?

Brgds