Hapag-Lloyd bucked the losing trend in the container sector to post an operating profit through a strong cost-cut drive.

    Germany’s flagship carrier booked an operating profit of EUR 36.7m ($49.4m) in the three months to the end of September, down from EUR 263.6m a year ago.

    Michael Behrendt, chairman of Hapag, said: “We performed very well in a demanding market environment. Hapag-Lloyd's operating result is well above the industry average.

    “Given the challenging conditions that all liner shipping companies are still facing, our operating result is satisfactory.”

    Hapag carded revenue of EUR 1.54bn against the EUR 1.78bn in the same period a year ago.

(source:asiasis)