Freight News, Sea, Logistics, Business

Profits fall away at HHLA

[ November 12, 2020   //   ]

German-owned logistics and terminal operator Hamburger Hafen und Logistik AG (HHLA) recorded a positive operating result in the first nine months of 2020 but one that was 38.9 % below the prior-year figure. Revenue also declined (- 8.1 %). Container throughput and container transport recorded declines, due to the loss of a Far East service in Hamburg and blank sailings as a result of the coronavirus pandemic. Although there were minor indications of a recovery in business in the third quarter fostered by, among other things, the renewed growth of the Chinese economy, HHLA said it would not achieve the result of the previous year in 2020.