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MarketScreener Homepage  >  Equities  >  Xetra  >  Hapag-Lloyd Aktiengesellschaft    HLAG   DE000HLAG475

HAPAG-LLOYD AKTIENGESELLSCHAFT

(HLAG)
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Hapag Lloyd : 1,300-tonne LNG tank hoisted on board the “Sajir”

10/26/2020 | 10:46am EST
1,300-tonne LNG tank hoisted on board the 'Sajir'

When a LNG tank weighing 1,300 tonnes was hoisted into the 'Sajir' by a floating crane last weekend, it marked another milestone in the conversion of the 15,000 TEU Hapag-Lloyd ship. Over the previous three weeks, the ship's hold had been prepared for the installation.

The tank will now be welded to the hold in the weeks ahead. While this is happening, the main engine and the auxiliary diesel engines will be converted to dual-fuel operation for liquefied natural gas (LNG) and low-sulphur fuel oil.

The process of retrofitting the 'Sajir' for LNG propulsion began on 2 September in the HuaRun DaDong Dockyard in Shanghai. Hapag-Lloyd is accordingly the first shipping company in the world to convert a container ship of this size to LNG. Plans call for the 'Sajir' to complete its conversion phase and initial test voyages in early 2021 before being redeployed in the Asia-North Europe trade lane.

The approximately USD 35 million conversion of the 'Sajir' is a key element of Hapag-Lloyd's sustainability strategy. Using LNG has the potential to reduce CO2 emissions by 15 to 30 percent and sulphur dioxide and particulate matter emissions by more than 90 percent.

'With this unique pilot project, we hope to learn for the future and to pave the way for large ships to be retrofitted to use this promising alternative fuel. However, our long-term goal continues to be CO2-neutral shipping operations using synthetic natural gas (SNG),' said Richard von Berlepsch, Managing Director Fleet at Hapag-Lloyd AG.

(You can find a photo of the installation attached. More photos are available on request. Copyright: Hapag-Lloyd AG)

Press contacts
Nils.Haupt@hlag.com +49 40 3001 - 2263
Tim.Seifert@hlag.com +49 40 3001 - 2291

About Hapag-Lloyd
With a fleet of 239 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The company has around 13,000 employees and 388 offices in 129 countries. Hapag-Lloyd has a container capacity of approximately 2.6 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 121 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company's forward-looking statements.

Disclaimer

Hapag-Lloyd AG published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 15:44:07 UTC


© Publicnow 2020
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Financials
Sales 2020 12 433 M 15 059 M 15 059 M
Net income 2020 840 M 1 018 M 1 018 M
Net Debt 2020 4 516 M 5 469 M 5 469 M
P/E ratio 2020 22,4x
Yield 2020 1,35%
Capitalization 19 263 M 23 304 M 23 330 M
EV / Sales 2020 1,91x
EV / Sales 2021 1,79x
Nbr of Employees 13 174
Free-Float 26,5%
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Number of Analysts 12
Average target price 81,16 €
Last Close Price 109,60 €
Spread / Highest target 16,8%
Spread / Average Target -26,0%
Spread / Lowest Target -60,8%
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Managers and Directors
NameTitle
Rolf Habben Jansen Chief Executive Officer
Michael Behrendt Chairman-Supervisory Board
Maximilian Rothkopf Chief Operating Officer
Mark Frese Chief Financial Officer
Karl Gernandt Deputy Chairman-Supervisory Board