News / Hapag-Lloyd has its work cut out to turn the business around after a poor 2014

27/03/2015

Another “highly dissatisfying result” from ocean carrier Hapag-Lloyd saw it post a net loss of €604m ($654m) for 2014, which its chief executive blamed on low freight rates and the integration costs of the merging of CSAV’s container business.

In a teleconference presentation of the German carrier’s results – significantly worse than the $134m loss in 2013 – chief executive Rolf Habben Jansen claimed that 2015 was “off to a good start”, but warned, “we have our work cut out for ...