Hapag-Lloyd expects profit to shrink further this year following a stark drop in 2023.

The world’s fifth-largest liner operator announced on Thursday that it expects 2024 Ebitda earnings to range between $1.1bn and $3.3bn, compared with $4.83bn last year.

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Excluding depreciation and amortisation, Ebit may even cross into negative territory, expected to range from minus $1.1bn