Hapag-Lloyd back in black in 2nd quarter 2013

German Hapag-Lloyd presents a positive result for the 2nd quarter 2013, of 20.9 million euros, according to the company's financial report. The group expects a positive operational result for 2013 as a whole.

BY KATRINE GRØNVALD RAUN

Published: 07.08.13 at 10:04

Hapag-Lloyd had a comforting second quarter, as the group announced a positive total result of 20.9 million euros. The result for the same period last year was far more negative, with a deficit of 7.3 million euros, according to the shipping company's financial report. Additionally, the operational result more than doubled compared to last year, finishing at 66.7 million euros, versus 30.8 million euros the year before.

The positive result was caused primarily by cutting costs and a small decline in fuel prices, as the second quarter continued to be characterized by intense competition, which made it difficult to increase the rates, writes the company.

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