Hapag-Lloyd said the conflict in the Middle East and the closure of the Strait of Hormuz cost the group about $600 million in the second quarter, weighing on earnings despite strong exports from Asia and improved demand in the United States. Group profit fell to $83 million from $306 million a year earlier, while EBITDA edged up to $829 million from $820 million and operating profit declined to $176 million from $189 million. In its Liner Shipping segment, operating profit slipped to $153 million from $167 million as the company absorbed additional bunker fuel, insurance, storage, rerouting and inland transportation costs tied to the disruption. Segment revenue rose to $5.7 billion, transport volume increased to 3.5 million TEUs from 3.4 million, and the average freight rate climbed 9% to $1,475 per TEU. CEO Rolf Habben Jansen said the second quarter was better than the first, helped by significantly higher spot rates and robust demand, while the company said the outlook it raised in July remains subject to considerable uncertainty because freight rates remain highly volatile and the Middle East conflict continues.