TUI sees slower growth in shipping freight rates

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: Portnews