Hapag-Lloyd Sees Rise in 2018 Operating Profit
German container shipping line Hapag-Lloyd on Wednesday said it expected to improve earnings this year thanks to synergies from the merger with Gulf peer UASC and rising transport volumes.
Operating profit (EBITDA) will post a clear rise in 2018 after nearly doubling to 1.06 billion euros ($1.31 billion) in 2017, Hapag-Lloyd said, even as freight rates remain flat due to the merger with UASC.
Reporting by Maria Sheahan and Vera Eckert