The German carrier posted a deficit of EUR 97.4m ($134.6m) for the year, an improvement on the EUR 128.3m loss in the previous 12 months.

Michael Behrendt, chairman of Hapag’s executive board, said: “Although Hapag-Lloyd continued to perform well compared to other industry players thanks to the positive operating result, this result nevertheless falls well short of our expectations for 2013 and is ultimately disappointing.