Hapag-Lloyd Plans More Capacity Investments

German container liner Hapag-Lloyd will make more investments in vessel capacity this year to grow in line with the global market, where it is the number five operator, Chief Finance Officer Mark Frese told analysts on Wednesday.

Apart from the unspecified further investments in containers, there would also be selected second hand tonnage purchases, he added in a call as the company published first quarter results.

Last December, Hapag-Lloyd ordered six ultra-large-container-vessels (ULCCs) in a $1 billion investment and last month, it ordered standard and reefer containers worth $550 million.

(Reporting by Vera Eckert, editing by Madeline Chambers)