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Lower freights hit Hapag profits

Hapag-Lloyd recorded a significant decrease in earnings in the 2023 financial year in its preliminary and unaudited figures. Group EBITDA earnings stood at US$ 4.8 billion (€4.5 billion), and the Group EBIT experienced a year-on-year decrease, to $2.7 billion (€ 2.5 billion). This can largely be attributed to lower freight rates resulting from the normalisation of global supply chains.Revenues decreased to $19.4 billion (€17.9 billion), primarily owing to lower average ... [+]

Hapag-Lloyd opens Indian tech centre

German shipping line Hapag-Lloyd has opened a Technology Center (HLTC) in the east Indian port city of Chennai. A team of 180 IT professionals will develop innovative software solutions for the maritime industry at the site at the World Trade Center Chennai. HLTC will be a joint venture with the ... [+]

Hapag Lloyd signs LNG deal

Hapag-Lloyd has signed a multi-year agreement with Shell Western to supply liquefied natural gas (LNG) to the line ultra large 23,500teu dual-fuel container vessels. Bunkering for the 12  new vessels is expected to commence during the second half of 2023 in the Port of Rotterdam. They will be deployed on ... [+]

Hapag Lloyd sees strong growth

Hapag-Lloyd says it expects very strong earnings growth in the first quarter of 2021 due to “exceptionally strong demand for container transport” and freight rates remaining a high level at the beginning of the year. Earning for 2021 are expected to be significantly higher than prior-year levels, said the German-based ... [+]

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