The sharp drop in freight prices following the pandemic has caused a slump in sales and profits at German container shipping company Hapag-Lloyd. At the end of the year, the conflict in the Red Sea also had an impact on transport volumes, the company announced on Tuesday. The diversion shipping firms have decided to take around the Cape of Good Hope at the southern tip of Africa has greatly extended travel times. According to preliminary calculations, the Hamburg-based shipping company achieved earnings before interest and taxes (EBIT) of the equivalent of €2.5 billion ($2.7 billion) last year…