Shipping company records turnover of 8.4 billion euro

Hapag-Lloyd grows thanks to takeover

Hapag-Llyod have presented their figures for the first nine months of the year. The shipping company reports a turnover of 8.4 billion euro (2017: 7.3 billion euro). The company’s net result also shows a considerable improvement, and amounts to 113.4 million euro (2017: 51,8 million euro).

The improved results are mostly thanks to the larger volume that was shipped. In the first nine months of the year, volume increased by 27 per cent to 8,900 TTEU (2017: 7,029 TTEU). That increase was mostly the result of the takeover of United Arab Shipping Company Ltd (UASC). On a pro forma base, the combined volume of the two shipowners increased by 5.5 per cent.

Bunker tariffs increased by 95 dollar per tonne compared to the first nine months of 2017. The average weak dollar against the euro and the significant upward trend of operational costs were partly compensated by the synergy from the merger and some cost-saving measures.

“We’ve seen a positive development in the third quarter, resulting in a positive group result after nine months,” says Rolf Habben Jansen, CEO of Hapag-Lloyd. “Higher transport volumes, a better occupancy rate of our boats and the synergies from the merger with UASC allow us to partially absorb the rising operational costs.”

Please click here to view the results.

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