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Hapag Lloyd has cancelled services to control costs -CEO


The chief executive of Hapag-Lloyd, the world’s number five container line, on Thursday said the company has cut services on key global routes in order to rein in costs amid a decline in freight rates that weighed on its nine-month profits.

“We have cut one of five (South East Asia) sailings to North Europe and have taken out one of six services to East Coast United States,”

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