News / $150m profit turnaround for Hapag-Lloyd in Q1, 'but Q2 will be tougher'

The merged company will have its headquarters in Hamburg

Hapag-Lloyd recorded a net profit of $109m in the first quarter as the carrier benefited from increased volumes and average freight rate gains on most of its liner trades.

The result compares with a loss of $42m in Q1 18.

“Thanks to higher transport volumes, better freight rates and a strong US dollar, we achieved a good result and got the year off to a very decent start,” said chief executive Rolf Habben Jansen.

However, the company expects Q2 to be somewhat tougher.

“I ...