Germany’s Hapag-Lloyd has turned in significantly improved financial results despite the Covid-19 pandemic.
The company saw its net result rise 155% to $1.1bn for the 2020 financial year, up from $418m in 2019, according to its annual report published today.
Hapag-Lloyd said the main drivers were cost savings of more than $500m, as well as slightly improved freight rates and lower bunker prices.
