ShippingWatch

Oil collapse was a welcome help for Hapag-Lloyd

Many feared that container lines would take a massive hit from the coronavirus crisis in the spring. But at German Hapag-Lloyd, the opposite happened. Part of the reason is help from a collapse in oil prices, CEO Rolf Habben Jansen tells ShippingWatch.

Photo: PR-FOTO

The collapse in the oil prices knocked many maritime companies to the ground, but for the world's fifth-largest container shipping line, German Hapag-Lloyd, the collapse came as a welcome help when the coronavirus paralyzed global trade in the spring.

With the drastic plunge in oil prices, fuel prices plunged correspondingly. And this happened at a time when the global fleet had just been instructed to sail on more expensive environmental fuels.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs