Hapag-Lloyd, one of the world’s top container shipping companies, has said that the conflict in the Middle East, with the closure of the Strait of Hormuz, cost the group $600 million in the second quarter, weighing on its earnings, Reuters reports.

Net profit came in at $83m, down from $306m a year earlier, as strong exports from Asia and improved demand in the United States only partly offset problems in the Middle East, the Hamburg-based company said.

“The second quarter was better than the first, driven by significantly higher spot rates and robust demand,” CEO Rolf Habben Jansen said.

In its Liner Shipping segment, EBIT fell to $153m from $167m, on additional costs for bunker, insurance, storage, rerouting and inland transportation after the closure of the Strait of Hormuz.

“In the second half of 2026, we will remain focused on growing both our liner shipping and terminal businesses while maintaining strict cost discipline to further improve our financial performance,” Habben Jansen said.

Hapag-Lloyd said its outlook, which the company raised in July, remains subject to considerable uncertainty due to the highly volatile freight rates.