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Hapag-Lloyd may move to Asia

Hapag-Lloyd may move to Asia
Hapag-Lloyd, world?s sixth largest container line, may relocate its documentation offices from Europe to Asia ? either India or China ? as part of a major restructuring exercise.

Hapag-Lloyd, world"s sixth largest container line, may relocate its documentation offices from Europe to Asia ? either India or China ? as part of a major restructuring exercise.

Hapag-Lloyd, world"s sixth largest container line, may relocate its documentation offices from Europe to Asia ? either India or China ? as part of a major restructuring exercise. The exercise will also include cutting down the structure from five to three regions and a reduction in the number of areas within each region. Redundancies are not ruled out though effort will be to make changes with out layoffs.

The unions are believed to be trying for job guarantees for all till 2015. The introduction of temporary short-time work at German outfits appears to be a distinct possibility. The need for internal restructuring has arisen not only to obtain cost savings, so important in the present global downturn, but also to achieve unrealised synergies with former CP Ships acquired in 2005. It might be noted that Kuhne+Nagel has been pleading for stricter austerity in Hapag Lloyd since Hamburg-based Albert Ballin consortium took over the German shipping line. Kuhne+Nagel is a member of the same consortium.

www.TurkishMaritime.com.tr

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