[270219.EN.SEA] Hapag-Lloyd 2018 Profit Up 7.6pc to US$1,28 Billion as Sales Rise 15pc

GERMAN shipping giant Hapag-Lloyd's 2018 operating profit increased 7.6 per cent year on year to EUR1.13 billion (US$1,28 billion), drawn on revenues of EUR11.5 billion, up 15 per cent.

But fourth quarter operating profit slipped 0.6 per cent year on year to EUR142 million.

"The main drivers were higher global transport volumes, steadily improving freight rates in the second half of the year, the merger with United Arab Shipping Company (UASC), and the resulting cost synergies." said the company statement.

With a fleet of 222 containerships, Hapag-Lloyd has a capacity of 1.6 million TEU and employs 12,500 from 394 offices in 127 countries and offers 120 liner services worldwide.

Source : HKSG.