News / Hapag-Lloyd hopes for UASC merger synergies after posting $158m half-year loss

Hamburg will remain Hapag-Lloyd's HQ after the merger with UASC is completed

Hapag-Lloyd sank further into the red in the second quarter losing $111m and taking its net loss to $158m for the first half of the year as the carrier’s revenues plunged by $1bn compared to the same period of 2015.

The German container line’s turnover for the first half was down 19% at $4.2bn on the previous year’s $5.2bn, while volumes remained flat at 3.7m teu.

The damage to the company’s balance sheet was inflicted by significantly lower freight rates across all ...