Thursday, July 23, 2009

Two more years of losses for Hapag-Lloyd

No wonder there is some concern about putting more money into Hapag-Lloyd.

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.

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