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Hapag-Lloyd profits improve as freight rates rise

Transportation

Tuesday, November 13, 2012

Hapag-Lloyd had improved results in the third quarter, but the German liner carrier said in the current quarter transport demand is being reduced by the debt crisis in Europe. The carrier said it had an after-tax profit of 45.6 million euros ($57.9 million) in the third quarter, compared to 9.6 million euros for the same 2011 period. Revenue was 1.765 billion euros in the quarter, 15 percent more than in the third quarter of 2011. "Hapag-Lloyd w...

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