Hapag-Lloyd CEO says company needs to address cost basis

FRANKFURT, Aug 14 (Reuters) - German container liner Hapag-Lloyd HLAG.DE must seek to curb costs in response to profit declines in the first half of 2025 that partly resulted from start-up spending on the new Gemini cooperation with rival Maersk MAERSKb.CO, it said on Thursday.

"We need to put more and more emphasis on the competitive cost structure a little earlier, certainly (that is) a priority over the next 12 to 18 months," said Chief Executive Rolf Habben Jansen in a call with analysts.

The company expects to achieve savings of $1 billion by 2026, roughly half of which will come as the Gemini deal will begin to pay off, he said.