Deals
Hapag-Lloyd Narrows 2013 Loss as Chilean Combination Planned
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Hapag-Lloyd AG narrowed its full-year loss as the freight-shipping company cut costs and benefited from lower fuel prices before a planned takeover that will make it the world’s fourth-largest container carrier.
The net loss in 2013 was 97.4 million euros ($134.7 million) compared with 128.3 million euros a year earlier as spending on transport costs were reduced by 409 million euros, the Hamburg-based company said in a statement. Operating profit more than doubled to 67.2 million euros.