Hapag-Lloyd Returns to Q3 Profit

16 August 2010 (Last Updated August 16th, 2010 18:30)

Hapag-Lloyd has reported a profit of $294m during third quarter of this year compared with a loss of $250m in the same quarter last year. The firm's container volume rose 7.8% to 1.279 million teu from 1.187 million teu in the quarter, while the average per-container rates jumped by 29.9%

Hapag-Lloyd has reported a profit of $294m during third quarter of this year compared with a loss of $250m in the same quarter last year.

The firm’s container volume rose 7.8% to 1.279 million teu from 1.187 million teu in the quarter, while the average per-container rates jumped by 29.9%, the company said.

Hapag-Lloyd said its container shipping revenue also rose 28.5% to $2.1bn.

The company reported an operating loss of more than $1bn last year, but returned to profit in the first quarter, offsetting losses and flat profit in other businesses.