Soaring box lines make market cap hay, but nowhere near C-19 highs for most
If the CAP fits…
Despite seeing first-quarter carryings increase 6.8% to 3m teu, German carrier Hapag-Lloyd saw revenues and earnings decrease year-on-year due to lower average freight rates, which declined from $1,999 per teu in the first quarter of 2023 to $1,359.
As a result, revenues fell 24% to $4.26bn ...
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