Hapag-lloyd reported revenue of $15.28 billion for its first three quarters

Source：Sungreen Logistics Release Time：2024-11-18 Number of views：

On November 14, Hapag-Lloyd announced its results for the first three quarters of 2024.

During the reporting period, Hapag-Lloyd achieved revenue of $15.28 billion, basically unchanged from the same period last year; Earnings before interest, tax, depreciation and amortization (EBITDA) were $3.59 billion, down 20.6% year over year; Earnings before interest and tax (EBIT) was $1.94 billion, down 35.1% year over year.

Lower freight rates in the first half of 2024 and increased transport costs due to vessels circumferring the Cape of Good Hope resulted in lower than year-ago levels, while strong demand and higher freight rates in the third quarter resulted in a significant increase in earnings compared to the first few quarters of 2024.

In terms of business segments, in the liner transport sector, the traffic volume in the first nine months of 2024 increased by 5% compared to the same period last year, reaching 9.3 million TEUs. The Terminals and Infrastructure segment saw a significant increase in sales and earnings, with EBITDA increasing to $114 million and EBIT increasing to $56 million.

Hapag-lloyd posted revenue of $15.28 billion in the first three quarters

Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said: "Demand in the first nine months of 2024 was unexpectedly strong. Despite the tense security situation in the Red Sea and the consequent diversion of vessels, we have further increased our traffic compared to the previous year and overall achieved a good performance. At the same time, we have launched a massive new construction programme of 24 vessels, through which we will further modernise and decarbonise our fleet, thereby ensuring our long-term competitiveness. In addition, we made good progress in building our terminal business under the Hanseatic Global Terminals brand. We will continue to vigorously implement Strategy 2030 while focusing on our growth and quality objectives."

Due to strong demand in the seaborne market and rising freight rates, Hapag-Lloyd raised its full-year guidance for 2024 for the third time on October 24, despite the increased costs associated with vessels sailing around the Cape of Good Hope.

Analysis of maritime security risk trends in major global shipping corridors After rising for three consecutive weeks, freight rates in the East and West of the United States again showed a downward trend

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