hapag-lloyd © Hieronymusukkel
© Hieronymusukkel

Sunday’s news that trade data for China was below consensus estimates put more pressure on the sagging stock prices of the major logistics companies when trade resumed on Monday, with Germany’s Hapag-Lloyd being the biggest loser around lunch time (GMT).

Since I wrote that its shares were priced to perfection at about €36.5 in late August, Hapag-Lloyd has shed 36% of value. It now trades close to a 52-week low of €21.5, with trading multiples pointing to more downside than upside, ...

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