Hapag-Lloyd recorded a net Q3 profit of $290m, up 73%, to take the carrier’s profit for the nine-month period to $605m, nearly double the $333m achieved the previous year.
However, the carrier’s most profitable quarter could be yet to come, given that Hapag-Lloyd’s accounting system works on an end voyage basis, lagging most of its peers by two to three weeks.
As a result, some increases in spot rates in Q3 will …
The post Cheaper fuel and cost-cutting steers Hapag-Lloyd to a 73% rise in Q3 profits appeared first on The Loadstar.
Source: The Loadstar