Hapag-Lloyd lost $80m in the second quarter, taking its net loss after six months to $122m.
It blamed what it called a “disappointing” result on “intense competition” and “higher operational costs”.
However, the company, which issued a profit warning in June, said there was evidence of a recovery in freight rates in the third quarter.
Chief executive Rolf Habben Jansen said the Q2 result was “somewhat disappointing” and that it was “definitely not an …
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Source: The Loadstar