Comment / On the wires: Catch Hapag-Lloyd if you can

If there is a quick takeaway from the first-quarter (Q1 ’20) results of Hapag-Lloyd – which were significantly less convoluted than AP Møller-Maersk’s (APMM) – it’s that you suddenly smell fear in the group’s gross cash position, cash flow numbers and stellar equity valuation.

Yet there is an obvious twist, the opportunity side of the equation, given its Netflix-beating performance: while it hoarded cash and equivalents in Q1 ’20, at the end of March hitting a record high of €939m…

… net ...