Behrendt (Hapag-Lloyd): the irrational behavior of the section of the marine transport of line is completely incomprehensible



In the third trimester of this year the shipowning society German Hapag-Lloyd has recorded a bending of the economic results having had archived item the period with a profit clearly of 16,6 million euros on revenues for 1,66 billion euros, with decreases respective of the -64% and the -6% on the period July-september of 2012. The operating costs are dropped of the -7% to 1,42 billion euros and EBITDA and EBIT have been pairs respective to 133,6 million euros (- 19%) and 61,2 million euros (- 23%). Adjusted the EBIT has been of 66,9 million euros (- 23%) -

The contraction of the results is produced mainly by the bending of the hires compensated from a consisting increase of the cargo volumes transported from the fleet let alone from the impact of the change variations dollar/euro with a weakening of the American currency (the exchange rate dollar/euro on 30 September was not pairs to 1,3499 regarding 1,3185 on December 31, 2012). In the third trimester of 2013, in fact, beyond 150 portacontenitori ships of the Germanic company they have transported containerized cargos pairs almost 1,4 million container teu, with an increment of 8.7% on the same period of 2012, but the medium hire for container teu quickly has a decrease of 10.4% being is pairs to 1.476 dollars regarding 1.647 dollars/teu in the third trimester last year.

"The course of the hires in the third trimester, the season of peak for the field of the marine transport of line - it has commented the chairman of Hapag-Lloyd, Michael Behrendt - has been very disappointing. However, so as in according to trimester, we are successful to compensate the impact negative that this has had on the profits with an ulterior cost reduction. Consequently in the third trimester we are successful to record a profit of group although the difficult context of market". Finding that in the fourth trimester, that more weak person is however the seasonal period, some attenuation of the pressure is not happening on the hires, Behrendt has evidenced that "the irrational behavior of the field, than once again has determined a drastic fall of the hires in October, is completely incomprehensible". Based on such Hapag-Lloyd considerations it has announced ulterior a next increase of the hires for various routes of traffic in the months of November and December.

In the first nine months of this year the fleet of Hapag-Lloyd has transported cargos pairs to 4,1 million teu, with an increase of 3.6% regarding the period January-september of 2012. The medium hire for teu is piled to 1.506 dollars, with a decrease of the -4,3% regarding 1.574 dollars/teu in the first nine months of 2012.

The company has closed the first nine months of the 2013 with a net loss of -56,1 million euros on revenues for 5,02 billion euros respect to a net loss of -94,1 million euros on revenues for 5,16 billion euros in the correspondent period last year. The operating costs are come down of the -6% to 4,38 billion euros. EBITDA and EBIT have attested to 305,4 million euros (+25%) and 63,2 million euros (+6,922%) and adjusted the EBIT to 80,4 million euros (+349%).