Hapag-Lloyd has announced that the closure of the Strait of Hormuz cost the company 600 million dollars in the second quarter.
Sea-news.az reports citing Al Jazeera, that the company announced its net profit decreased from 306 million dollars in the same period last year to 83 million dollars.
Hapag-Lloyd added that high-volume exports from Asia and increasing demand in the US partially compensated for the losses caused by the disruptions in the Middle East. Following the closure of the strait, the company’s operating profit dropped from 167 million dollars to 153 million dollars due to additional costs incurred for bunker fuel, insurance, storage, rerouting, and inland transport.
It should be noted that the German shipping giant Hapag-Lloyd is one of the largest container shipping companies in the world.
