Hapag appoints Lars Sorensen Senior Managing Director, Middle East
Sorensen will succeed Dheeraj Bhatia who will become a member of the Hapag-Lloyd Executive Board
Lars Sorensen will become Senior Managing Director, Region Middle East, Hapag-Lloyd, based in Dubai w.e.f. January 1, 2024.
Sorensen will be succeeding Dheeraj Bhatia who will become a member of the Hapag-Lloyd Executive Board and CEO of the new Rotterdam-based Hapag-Lloyd Terminal Holding from January 1, 2024, says an official release.
"Sorensen joined Hapag-Lloyd five years ago and successfully led Area India as Managing Director, where he has proven his dedication, passion, and exceptional managerial skills, making him a natural fit for his new endeavour."
With a fleet of 264 container ships and a total transport capacity of two million TEUs, Hapag-Lloyd has around 13,500 employees and 400 offices in 135 countries in the liner shipping segment. In the terminal & infrastructure segment, Hapag-Lloyd has stakes in 20 terminals in Europe, Latin America, the United States, India and North Africa with around 2,600 employees, the release added.
Hapag-Lloyd reported a 77 percent decline in group profit at €3.2 billion for the first nine months of 2023 compared to €13.8 billion in the same period last year on 45 percent decline in average freight rate to $1,604/TEU.
Carried volume declined marginally to 8.92 million TEUs from 8.99 million TEUs in the corresponding period last year. Total revenue declined 47 percent to €14.1 billion from €26.7 billion in the first nine months of 2022.
Hapag-Lloyd Technology Centre (HLTC) is being launched in Chennai, India where a team of 180 IT professionals will develop innovative software solutions for the maritime industry. Housed in the World Trade Center Chennai, HLTC will be operated as part of a joint venture that Hapag-Lloyd established with the Indian technology company Solverminds in June this year.