Hapag-Lloyd lost EUR 173.3 million in 1st half of 2014

German container giant Hapag-Lloyd suffered a massive loss in the first six months of the year. "Unsatisfactory," says the carrier's new CEO, Rolf Habben Jansen.

German Hapag-Lloyd suffered a net deficit of EUR 173.3 million in the first half of the year. This deficit includes one-off costs related to the acquisition of Chilean CSAV, according to the carrier's interim report, published Tuesday morning.

"The fact that we ended up with this unsatisfactory result despite clear efforts to cut costs is down to the disappointing development of freight rates across all trades," says CEO Rolf Habben Jansen, who took over the reins as the carrier's new CEO this summer. He switched from Maersk-owned logistics company Damco.

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