News / Hapag-Lloyd H1 results and average freight rate hit by integration of UASC

Hapag-Lloyd posted a net profit of $18m in the second quarter of the year, after a loss of $111m in the same period of 2016.

However, the carrier still recorded a deficit of $49m for the first six months of trading, which it partly blames on the $130m cost of the integration of UASC and a 59% increase in the price of bunker fuel.

The merger, completed on 24 May, also had a negative impact on the container line’s average freight rate.

Despite a big hike in container ...