Hapag-Lloyd to seek cost cuts after net profit slump

Hapag-Lloyd to seek cost cuts after net profit slump
German container shipper Hapag-Lloyd HLAG.DE on Thursday said global vessel oversupply and a crisis in the Red Sea will force it to cut expenses in 2024, including adapting sailings and ports, after it posted an 83% fall in annual net profit. “We expect the market...
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Baltic index posts sixth straight weekly gain

Baltic index posts sixth straight weekly gain
The Baltic Exchange’s main sea freight index rose on Friday and posted a sixth consecutive weekly gain, steered by strong demand for panamax and supramax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels,...
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