Hapag-Lloyd plunges deeper into the red

Hapag-Lloyd posted a net loss of €100.9m (US$115.3m) in the first half of 2018 with the German carrier coming under pressure from competition and operating costs.

The net loss is double that of the first six months of 2017, €42.7m (US$48.8m), with increasing fuel costs, higher charter rates and slowly recovering freight rates all impact the company’s performance.

Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “We are critically reviewing the economic viability of our ship systems and are further optimising our terminal contracts, to gain additional relief on the cost side.”