Hapag-Lloyd has reported preliminary results with EBITDA growth equivalent to 45.8% year over year in Q2. That compares to a 5.1% contraction in Q1 and suggests efforts to cut costs and apply pricing discipline in the face of COVID-19 linked activity declines in the container shipping sector have been successful. Average container rates globally rose by 18.7% year over year in Q2 according to S&P Global Platts data while average bunker fuel rates dropped by 49.1%, boosting margin profitability. Hapag-Lloyd has maintained its earnings outlook but warned “the forecast is subj...