Hapag-Lloyd Prefers Profits Over Market Share, Handelsblatt Says

Hapag-Lloyd AG is trying to stay out of a price war with rivals and will forgo “additional business” if it isn’t profitable, Handelsblatt reported, citing an interview with Chief Executive Officer Michael Behrendt.

When the freight business expands again, Hapag-Lloyd will be in a good position to grow, the newspaper quoted him as saying.

To contact the reporter on this story: Ragnhild Kjetland in Frankfurt at rkjetland@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.