Hapag-Lloyd

In 2019, CalSTRS identified Hapag Lloyd as potentially having ties to Iran and subsequently removed the company as CalSTRS no longer holds the company’s securities. 

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"German shipping line Hapag-Lloyd has stopped one of two feeder services to Iran and will decide on the remaining one before a Nov. 4 deadline imposed by the United States, which has reimposed sanctions on Tehran." (6/11/2018).

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"German container shipping group Hapag-Lloyd said it did not accept cargo for Bandar Abbas nor any consignments for other Tidewater-run ports. It said the smaller container port of Bushehr, some 900 km north of Bandar Abbas, was not managed by Tidewater. 'We have moved only a few containers through Bushehr by feeder vessels which are not our own vessels. We do not have an own service calling there,' a spokeswoman said. Hapag-Lloyd's previous Bandar Abbas service had been jointly operated with South Korea's Hyundai Merchant Marine. A source familiar with the matter said Hyundai had reduced its shipping service to Iran and was closely monitoring the situation." (Reuters, "Sanctions blowback crippling Iran's shipping trade," 12/1/2011)