Hapag-Lloyd charts its course on the waterways of the world. The shipping company operates a fleet in excess of 135 containerships through its subsidiary Hapag-Lloyd Container Line, which accounts for most of the company's sales. Overall, Hapag-Lloyd Container Line's vessels have a capacity of more than 600,000 TEU (20-ft. equivalent units). The Line's routes link 130 countries throughout Europe, Asia, the Americas, and Africa. In addition to freight transportation, Hapag-Lloyd offers luxury ocean and river cruises under its Hapag-Lloyd Cruises brand. German tourism giant TUIand German investment group Albert Ballin control Hapag-Lloyd, which traces its roots to 1847.
TUI holds 38% and the Albert Ballin Consortium (includes the City of Hamburg, Kühne Holding AG, Signal Iduna, HSH Nordbank, M.M.Warburg Bank, and HanseMerkur - all German firms) holds 61% of the Albert Ballin Joint Venture, which in turn owns all of Hapag-Lloyd. TUI handles the cruise ship operations while Albert Ballin runs the shipping company. After reducing its stake several times, TUI is trying to sell its remaining shares in Hapag-Lloyd either to one investor or through a public offering.
The company's shipping services include global online tracking of shipments, security and customs clearance in major regions, special cargo and refrigerated shipments, and intermodal offerings. It has consultants to work with customers on the best way to secure and transport dangerous and oversize cargo.
In response to the global economic crisis, Hapag-Lloyd trimmed more than $1 billion in a cost-cutting program between 2008 and 2010. It also accepted a $1.8 billion bailout from the German government. The measures paid off and the company said at the end of 2010 that it was ordering 10 new ships to be delivered between mid-2012 and the end of 2013. – less