Impressive reversal of the trend at Hapag-Lloyd AG
German container shipping company Hapag-Lloyd AG is heading for a record result in the 2010 financial year
Hapag-Lloyd AG (Hamburg) shows a clearly visible reversal of the trend in the current business year. After sustaining heavy losses last year, the company first achieved the best result in the history in the first nine months of this year. This development stemed from freight rates well above last year’s, greater transport volumes and significant cost savings, as Michael Behrendt, Chairman of the Executive Board, emphasised. “However, it is in particular thanks to the joint effort made by all of the group’s staff over the past 24 months,” the manager points out. In the period from January to September 2010 Hapag-Lloyd generated aggregate revenue of EUR 4.67 billion. Operating earnings (EBIT) amounted to EUR 506 million. Transported volume amounted at a total of 3.7 million TEU, which an increase of 235,000 TEU on the first three quarters of last year. The majority of the shipping areas contributed to this growth in transport volumes. The driving economic forces behind this development were China and a number of emerging markets. In the first nine months of 2010 the average freight rate went up to 1,547 USD/TEU, which was 326 USD/TEU higher (+26.7 per cent) than in the corresponding period of the previous year. The German shipping company operates currently 120 container vessels in its colours, providing a total capacity of 550,000 TEU. The container stock of around 1 million TEU includes one of the world’s largest and most recent refrigerated container fleets. The marketing of the about 80 liner services connecting all continents lies in the hands of 6,900 employees at 300 locations in 114 countries. Quelle: LogEastics |