Hapag-Lloyd suffers E222m loss as rates and volumes plunge

Patrick Hagen - Monday 11 May 2009

GERMANY’s largest container carrier Hapag-Lloyd suffered operating losses of €222m ($302.5m) during the first three months of the year, compared to a operating profit of €18.5m in the previous year.

The carrier’s sales dropped by 22.9% to €1.1bn as freight rates and volumes plummeted, said Rainer Feuerhake, chief fina...

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