Hapag Lloyd incurring $50 million in extra costs per week, 25,000 shipments impacted due to West Asia war, says CEO

 

Hapag Lloyd, which is the world’s fifth largest container shipping company, signed letter of intent with Indian government to set up a ship recycling unit and invest in Vadhavan port

The conflict has also impacted over 25,000 shipments, significant chunk of which were from or enroute India, Jansen said at a MOU signing ceremony in Mumbai. | Photo Credit: MOHAMED ABD EL GHANY

Hapag Lloyd is incurring additional cost of $ 40-50 million per week due to ongoing conflict in West Asia, Rolf Habben Jansen, CEO of Hapag Lloyd said on Thursday.

The conflict has also impacted over 25,000 shipments, significant chunk of which were from or enroute India, Jansen said at a MOU signing ceremony in Mumbai.

Hapag Lloyd, which is the world’s fifth largest container shipping company, signed letter of intent with Indian government to set up a ship recycling unit and invest in Vadhavan port. Additionally the company also announced its intent to reflag upto four vessels in India.