Hapag-Lloyd remains strong in 2011’s difficult market environment
German container shipping company Hapag-Lloyd posted positive operating result for the 2011 financial year
In the 2011 financial year, which was dominated by an unexpectedly aggressive price war in the Far East trade and sharp increases in oil and bunker prices, Hapag-Lloyd performed well. According to preliminary figures, In 2011, the shipping company’s transport volume rose by 5.1% year on year to 5.2 million TEU, while the average freight rate remained virtually unchanged at USD 1,532/TEU (2010: USD 1,569/TEU). Hapag-Lloyd, currently the world’s fourth largest liner shipping company, generated revenue of approximately EUR 6.1 billion, which was only slightly less than 2010 (EUR 6.2 billion) due to exchange rate fluctuations. Its operating result (adjusted EBIT) came to around EUR 101 million, according to the preliminary figures of the financial year 2011.
“We achieved our primary goal for 2011 of generating an operating profit. Considering how unfavourable the market environment was, this result sends out a strong message and once again reinforces the fact that Hapag-Lloyd is one of the most successful liner shipping companies,” said Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd. The enterprise based in Hamburg had 6,873 employees at the end of the last financial year (previous year: 6,872) and was operating 149 ships with a total capacity of 679,000 TEU.
Quelle: LogEastics
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