Hapag-Lloyd raises annual outlook on strong demand, freight rates

July 13 (Reuters) - German shipping firm Hapag-Lloyd on Monday raised its outlook for the financial year, citing strong market demand and positive freight rate developments.

Hapag-Lloyd said it now expects earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year to be in the range of $2.7 billion to $3.7 billion, up from its previous forecast of $1.1 billion to $3.1 billion.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Tasim Zahid)