Hapag-Lloyd loss widens on CSAV takeover cost, low freight rates

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By Alex Lennane

13/05/2014

Hapag-Lloyd this morning announced a first-quarter loss of €63.2m, down from €53.2m loss last year, as overcapacity, low freight rates and costs associated with its takeover of CSAV begin to bite. It noted that the average freight rate had fallen 8% to $1,422 per standard container – “far too low” said the CEO. Bloomberg Businessweek has the details.

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Topics

CSAV Hapag-Lloyd Takeover Talk

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