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Higher fuel prices weigh down Hapag-Lloyd in first quarter

Higher fuel prices weigh down the results of Hapag-Lloyd in the first quarter, even though freight rates and volumes increased. The shipping company takes the top off its full-year guidance.

Photo: Fabian Bimmer/Reuters/Ritzau Scanpix

German container shipping line Hapag-Lloyd was hit by higher fuel prices in the first quarter.

The company exits the first three months of the year with an operating profit of USD 176 million and a net result of USD 27 million, both lower than in the same period last year, mainly due to the new IMO sulfur regulation that came into force at the turn of the year.

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