FRANKFURT, Oct 11 (Reuters) – Container transport group Hapag-Lloyd is sticking with plans to drift, its chief govt mentioned, regardless of different German firms curbing their itemizing ambitions resulting from unsure markets and the impression of the Volkswagen emissions scandal.

Hapag-Lloyd goals to lift $500 million in a inventory market flotation this 12 months and has mentioned it’ll use the proceeds to spend money on new ships and containers.

“There will never be a perfect time … one should not be too dependent on (the market). From a company perspective, it is a good time,” Hapag-Lloyd Chief Executive Rolf Habben Jansen informed Frankfurter Allgemeine Sonntagszeitung (FAS) in an interview printed on Sunday.

Plastics maker Covestro and automotive provider Schaeffler have reduce the worth and quantity of their deliberate listings resulting from investor sentiment. Both corporations provide the auto trade, which has been rocked by the Volkswagen scandal.

Building supplies maker Xella pulled its flotation plan completely.

“We have been posting profits for two quarters and managed the integration of (Chilean peer Vapores) CSAV better and faster than expected. Those are strong arguments in talks with investors,” Habben Jansen informed FAS.

He additionally believes a disaster within the transport trade will finish in two to 3 years as shippers have been ordering fewer new vessels since 2012 and widening of the Panama Canal will result in many smaller ships being scrapped, assuaging over capability.

Habben Jansen mentioned Hapag-Lloyd would proceed price slicing subsequent 12 months however wouldn’t reduce extra jobs.

Hapag-Lloyd launched a financial savings programme final 12 months that can reduce annual prices by $200 million, along with $400 million of synergies from its merger with CSAV. Due to the merger, Hapag-Lloyd is slicing fewer than 1,500 jobs.

Hapag-Lloyd is 78 % owned by a consortium of CSAV, town of Hamburg and entrepreneur Klaus-Michael Kuehne. Tourism group TUI owns 14 %.

TUI has mentioned it might offload no less than a part of its stake in Hapag-Lloyd in an preliminary public providing (IPO), however its chief Friedrich Joussen made extra cautious feedback over the weekend.

“Where applicable, we will contribute part of our holding, depending on investor demand the market environment,” weekly Euro am Sonntag quoted him as saying in an interview, however mentioned he affirmed TUI’s longer-term intention to exit its funding in container transport and concentrate on tourism. (Reporting by Maria Sheahan; enhancing by Susan Thomas)

(c) Copyright Thomson Reuters 2015.

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