Hapag-Lloyd’s new five-year strategy focuses on efficiency and service rather than scale. The company is targeting a 12.0% EBITDA margin by 2023 vs. 10.5% in the 12 months to Sept. 30. A cost cutting plan is planned that’s equivalent to 3.2% points, giving the firm a significant buffer to compete for extra volumes. With antitrust considerations likely to rule out further industry consolidation then improved services will be needed. CMA-CGM’s “Eagle GO” guaranteed, high-speed service is one example and has allowed it to expand U.S.-inbound volumes by 13.2% in 12 months to Oct. 31 vs. a ye...