News / Battle with rising fuel prices pushes Hapag-Lloyd deeper into the red

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Hapag-Lloyd lost $80m in the second quarter, taking its net loss after six months to $122m.

It blamed what it called a “disappointing” result on “intense competition” and “higher operational costs”.

However, the company, which issued a profit warning in June, said there was evidence of a recovery in freight rates in the third quarter.

Chief executive Rolf Habben Jansen said the Q2 result was “somewhat disappointing” and that it was “definitely not an easy market”.

Offering some comfort to anxious investors, he said: “For ...