Carriers

Hapag-Lloyd drops as forecast cut overshadows UASC merger plan

Hapag-Lloyd takes a beating on the stock market despite the upcoming merger with United Arab Shipping Company. Germany's biggest container carrier expects "clearly decreasing" earnings before interest and tax in 2016, Hapag-Lloyd said in a statement.
Photo: PR-foto/Hapag-Lloyd
Photo: PR-foto/Hapag-Lloyd
BY NICHOLAS BRAUTLECHT, BLOOMBERG NEWS

Hapag-Lloyd fell radically since its initial public offering in November as a forecast of lower profit and a share-sale plan overshadowed a final deal to join forces with United Arab Shipping Company to become the world’'s fifth-largest container carrier.

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