Hapag-Lloyd Avoids Forecast Due to Coronavirus Uncertainty

Home Community Industry News Hapag-Lloyd Avoids Forecast Due to Coronavirus Uncertainty

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    Greensea Systems
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    German container shipper Hapag-Lloyd said on Thursday it almost tripled its net result in 2020 due to lower costs and higher freight rates, but shied away from specifying 2021 results due to uncertainty in the coronavirus crisis.

    The net result in 2020 amounted to 935 million euros ($1.12 billion) compared with 373 million euros in 2019 after revenue rose 3% and freight rates increased 4%, it said in a statement.

    Hapag-Lloyd, the world’s fifth largest container line, expected to clearly surpass its 2020 results based on the assumption that transport volumes and average freight rates will increase throughout the year.

    Read more by visiting MarineLink.com

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