News / More cost-cutting needed after 2013 fall in revenue, says Hamburg Süd parent

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Hamburg Süd’s owner says the north-south container shipping line needs to cut more costs after a 3.9% decline in revenue last year.

The Oetker Group attributed the 2013 result to falling freight rates and a 4% devaluation of the dollar against the euro.

The family-run concern that lists food, beverages, banking and chemicals among its other business interests, reported revenues of €5.25bn for last year, but did not release a profit figure.

“Given the high proportion of modern ships and containers owned by ...