Hapag-Lloyd’s annual report for 2023 and financial results for Q4 reveal exactly how challenging the ocean container market has been for the largest steamship lines. The report, which the German container ship line released Thursday, notes that Liner Shipping revenues dropped 48.5% to 17.7 billion euros ($19.2 billion) from 2022 to 2023, and earnings before interest, taxes, depreciation and amortization fell by 77.1% to 4.4 billion euros over the same period.
The ocean carrier grew its volumes...
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