Business, Freight News, Sea


Weather and Hormuz hit Hapag-Lloyd profits

[ May 15, 2026   //   ]

Hapag-Lloyd first quarter Group made a loss of -US$256 million in the first quarter of 2026, due to lower freight rates and operational disruptions as a result of severe weather conditions and the blockage of the Strait of Hormuz.

In the Liner Shipping segment, revenues decreased to USD 4.8 billion (EUR 4.1 billion), primarily due to the lower average freight rate of USD 1,330/TEU (Q1 2025: USD 1,471/TEU). Transport volume however was 3.2 million TEU, nearly on par with the prior-year quarter.

Chief executive Rolf Habben Jansen, said: “The first quarter of 2026 was unsatisfactory for us, with weather-related supply chain disruptions and pressure on freight rates leading to significantly lower results. At the same time, our Gemini network has proven its resilience even under difficult conditions, helping us maintain a reliable service offering for our customers. We will stay firmly focused on our Strategy 2030 and the next milestones for the successful completion of our merger agreement with ZIM while we maintain our rigorous cost management as we navigate the volatile market environment.”

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