Middle East conflict costs Hapag-Lloyd US$600 million

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Hapag-Lloyd reported US$600 million in additional costs due to the Middle East conflict, largely driven by rising oil prices. The shipping company also faced expenses from alternative land routes, increased insurance, and container storage linked to regional disruptions.

Hapag-Lloyd incurred around US$600 million in additional costs as a result of the Middle East conflict, according to CEO Rolf Habben Jansen. The majority of the additional expenditure came from higher oil prices. The carrier also faced costs related to alternative land routes, insurance and the storage of containers affected by disruption in the region. […] The post Middle East conflict costs Hapag-Lloyd US$600 million appeared first on Container News.