First half results
Hapag-Lloyd lost $618 million in the first half of 2009, TUI AG, the former owner and current 43 percent shareholder of German container line, said Thursday.
That's a precipitous drop from the roughly $190 million the line made in the corresponding period in 2008. Revenue fell 24 percent to $3.1 billion, as container volume fell 16 percent and freight rates 20 percent in the first half.
TUI, the German tourism giant, sold a 57 percent stake in Hapag-Lloyd last fall to a consortium of Hamburg investors,
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