Container shipper Hapag-Lloyd takes $600 million hit from Middle East crisis

BERLIN, Aug 13 (Reuters) - ‌Hapag-Lloyd, one ​of ​the world's top container shipping companies, said on Thursday that the conflict ‌in the Middle East, with the closure ⁠of the Strait of Hormuz, cost the group $600 million ‌in the second quarter, ‌weighing on its earnings.

Net profit came in at $83 million, down from $306 million a year earlier, ​as strong exports from Asia and improved demand in the United States only partly ⁠offset problems in the Middle East, the Hamburg-based company said.

• "The second ​quarter was better than the first, driven by significantly higher spot rates and ​robust demand," CEO Rolf ‌Habben Jansen said.

• In its Liner Shipping segment, EBIT fell to $153 million ⁠from $167 million, on additional costs for bunker, insurance, storage, rerouting and inland transportation after the closure of ⁠the Strait of Hormuz.

• "In the second half of 2026, ​we will remain focused on growing both our liner shipping and terminal businesses while maintaining strict cost discipline ‌to further improve our financial performance," Habben Jansen said.

• Hapag-Lloyd said its ‌outlook, which the company raised in July, remains ⁠subject to considerable ‌uncertainty due to ​the highly volatile freight rates.

(Reporting by Elke Ahlswede and Thomas SeythalEditing by Ludwig ‌Burger)

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