Hapag-Lloyd suffers 66% operating profit drop
German shipping company Hapag-Lloyd has suffered a 66% year-on-year fall in its earnings before interest and taxes (EBIT) in 2016, according to its preliminary results.
EBIT went down from €366.4m (US$406.7m) in 2015 to €126m (US$140m) last year.
However, the shipping line recorded a significant increase in its EBIT in the last quarter of the year, from €17.8m (US$18.9m) in the last three months of 2015 to €100m (US$106m) in the same period last year.
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