Hapag-Lloyd Prefers Profits Over Market Share, Handelsblatt Says

Nov. 21 (Bloomberg) -- 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