Hapag-Lloyd first-quarter net profit down 74%, reiterates 2020 guidance
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FRANKFURT (Reuters) - German container shipping line Hapag-Lloyd on Friday reported a first quarter net profit of 25 million euros ($27.01 million), down from 96 million euro a year earlier, and held on to its earlier guidance for full year earnings.Citing higher costs for shipping fuel and a devaluation of its bunker stocks triggered by an oil price slide, the company said the corona pandemic would hit activities in the second quarter, ahead of a hoped-for slow recovery.Chief executive Rolf..