Hapag-Lloyd considers rate increases as indispensable

Container shipping group Hapag-Lloyd felt the consequences of soaring energy costs in the first half of the year 2012
 
Following a slight easing in bunker prices at the end of the second quarter 2012, the Hapag-Lloyd container shipping group (Hamburg) recently announced rate increases. In a press release the group management announced rate increases for a number of trades, considering further price hikes to unavoidable. Hapag-Lloyd is striving to post positive operating earnings again for the current financial year, provided that there is no fundamental escalation of the risks and assuming it proves possible to implement further rate increases in the course of 2012.
 
In the first six months of 2012, revenue increased by more than 14 per cent compared to the first half of 2011, at EUR 3.4 billion. Hapag-Lloyd transported more than 2.68 million TEU – an increase of 5.8 per cent. Transport expenses for the first half were up by a total of EUR 561 million on last year, largely due to higher energy costs. This is equivalent to a 22%-rise. EBITDA totalled EUR 80.9 million in the six months to June, while the adjusted EBIT stood at EUR -68.7 million due to the seasonally weak first quarter. Investments of EUR 494.6 million were made in the first half, with most of the funds going towards ships and containers.
 
At present, Hapag-Lloyd has around 6,970 employees at 300 sites in 114 countries. The fleet consisted of 147 vessels with a total capacity of 667,000 TEU on 30 June. On 5 July, Hapag-Lloyd also took delivery of the first of ten 13,200 TEU newbuildings. The vessel will be named ‘Hamburg Express’ at a ceremony in Hamburg on 17 August.

Quelle: LogEastics

Portal: www.logistik-express.com