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Hapag-Lloyd operating profit up 9pc to US$916.1 million. sales rise 29pc
GERMANY's Hapag-Lloyd, the fourth biggest container shipping line in the world, has posted a 9.4 per cent year-on-year operating profit increase to EUR366.4 million (US$916.1 million), drawn on revenues of EUR8.8 billion, up 29.4 per cent.
"The significant revenue increase was primarily attributable to the merger with CSAV's container business in December 2014." said the Hapag Lloyd statement accompanying the results.
Volume increased 25 per cent year on year to 7.4 million TEU in 2015, but rates fell 16.4 per cent to an average of $1,225, offset by a 78.1 per cent in bunker costs to an average price of USD$312 per tonne in 2015.
In the fourth quarter operating profit (EBITDA) reached EUR140.4 million after a net loss of EUR79.7 million year on year.
"The significant revenue increase was primarily attributable to the merger with CSAV's container business in December 2014." said the Hapag Lloyd statement accompanying the results.
Volume increased 25 per cent year on year to 7.4 million TEU in 2015, but rates fell 16.4 per cent to an average of $1,225, offset by a 78.1 per cent in bunker costs to an average price of USD$312 per tonne in 2015.
In the fourth quarter operating profit (EBITDA) reached EUR140.4 million after a net loss of EUR79.7 million year on year.
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