Reports are surfacing losses are expected for 2009 and 2010.
Hapag-Lloyd AG, Germany’s largest container-shipping company, probably won’t make a profit before 2011, Die Welt reported, citing unidentified people from the company. Falling freight orders and prices will create a loss of at least 700 million euros ($998 million) at the Hamburg-based company this year, and about 200 million euros in 2010, the newspaper reported.
click here for Hellenic Shipping News article
If this is the projection for Hapag-Lloyd, it will probably be the same for many container carriers.
Tough times in international shipping.