container shipping giant Hapag - Lloyd reported a threefold rise in 2017 pre - tax profit to € 411 m ( $ 650 million ) , due largely to a merger with United container Shipping Company . The German sector also benefited from improved freight handling and a 29 % surge in container shipping volumes .
Container shipping giant Hapag-Lloyd reported a threefold rise in 2017 pre-tax profit to €411m ($505m), due largely to a merger with United Arab Shipping Company. The German carrier also benefited from improved freight rates and a 29% surge in container transport volumes.