Hapag-Lloyd has made it into the black in the third quarter following a disappointing performance in the first six months of the year.
The German liner company reported a net profit of EUR 8.2m ($8.8m), compared to EUR 5.2m in the corresponding quarter of 2015.
Rolf Habben Jansen, chief executive of Hapag-Lloyd, said: “The market has been very difficult so far this year, but in that environment Hapag-Lloyd has performed relatively well, which underlines our competitiveness and we are pleased to report a net profit in the third quarter.
“The overall results so far this year remain unsatisfactory, but the net profit in the third quarter indicates that we are on the right track and that our efforts to further reduce costs and to leverage economies of scale are paying off.”
Hapag-Lloyd reported an operating result of EUR 65.6m, down from last year’s EUR 80.9m.
“Our main focus for the upcoming quarters will be to further optimize our cost position, ensure a smooth implementation of THE Alliance and to complete the transaction with UASC, to further solidify our position in this consolidating industry,” Jansen added.
