Hapag-Lloyd sees shipping transport demand up, more mergers in 2018

Hamburg

GERMAN shipping group Hapag-Lloyd sees demand for transport growing 4 per cent in 2018 and expects more shipping firms to merge in the year, the chief executive said.

CEO Rolf Habben Jansen also said Hapag-Lloyd, which merged with its Arab peer UASC, could achieve 85 to 90 per cent of targeted annual savings from the deal of US$435 million this year and 100 per cent from 2019.