Last week, you might have seen that Hapag-Lloyd Aktiengesellschaft ( ETR:HLAG ) released its annual result to the...
The Hapag-Lloyd Aktiengesellschaft ( ETR:HLAG ) share price has had a bad week, falling 16%. But that doesn't change...
FRANKFURT (Reuters) -German container shipper Hapag-Lloyd said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting sailings and ports following a bruising 83% fall in net profit. Hapag-Lloyd's problems chime with those of competitors such as Maersk and CMA CGM, exacerbated by the arrival of additional ships ordered during the pandemic years when they posted record profits due to logistics hiccups. "We expect the market environment to continue to be difficult given the large number of ship deliveries this year," said chief executive Rolf Habben Jansen.