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August 16, 2010

Hapag-Lloyd Returns to Q3 Profit

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%

By cms admin

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.

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