Hapag-Lloyd (ADR)

Hapag-Lloyd said two more of its container ships have left the Persian Gulf. Previously four ships had been stuck in the region; one of them was subchartered and another received a new assignment. The company did not name ship names or transit times for security reasons; shipping traffic through the Strait of Hormuz remains below pre-war levels but is showing signs of recovery (AXSMarine: 62 transits). » More on finanzen.net

Hapag-Lloyd is parting with COO Maximilian Rothkopf (45), who will leave management on June 30 and will remain with the company in an advisory capacity on an interim basis. The supervisory board will decide later on his successor. The departure follows a weak first quarter with negative EBIT, which the company partly attributes to sea blockades and the situation in the Middle East; a crisis team is in place at group headquarters. » More on manager-magazin.de

Hapag-Lloyd recorded an operating loss (EBIT) of €134 million in the first quarter and a net loss of €219 million. Revenue fell by about 17 percent to €4.2 billion, weighed down by falling transport prices, adverse weather and the blockade of the Strait of Hormus. CEO Rolf Habben Jansen announced strict cost management; higher fuel and insurance expenses further burdened the result. The share recently rose 2.83 percent to €120.10 and is down roughly eight percent since the start of the Middle East conflict. » More on finanzen.net