TUI sees slower growth in shipping freight rates

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

17 May 2008

Germany's TUI said on Thursday it sees slower growth in shipping freight rates in the coming quarters. The company told a conference call it sees CP Ships synergies of 220 million euros ($341.3 million) in 2008. TUI added that it currently valued its Hapag-Lloyd container shipping division at 3.75 billion euros. The unit would keep pace with expected overall growth of 7 percent in the container shipping industry, it added.

Source: Reuters