Independent journal on economy and transport policy
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Last year Hapag-Lloyd has recorded a net loss of -97,4 million euros
Behrendt: "this result is very beneath of our expectations for 2013 and, after all, it is disappointing". The revenues are diminished of -4,0%
March 26, 2014
The shipowning society German Hapag-Lloyd has closed the 2013 with a net loss of -97,4 million euros on revenues for 6,58 billion euros respect to a net loss of -128,3 million euros on revenues for 6,84 billion euros in the year precedence. The costs have recorded a decrease of the -6,6% coming down to 5,77 billion euros. The operating profit has been of positive sign for 8,3 million euros respect to operating liabilities of -32,2 million euros in 2012. EBITDA and EBIT have attested respective to 389,1 million euros (+16.3%) and 63,7 million euros (+2448.0%).
For directive of the company the reduction of the liabilities it does not constitute a satisfactory result: "even if Hapag-Lloyd has continued to operate regarding the others players of the field thanks to positive the operating result - it has emphasized chairman of the company, Michael Behrendt - however this result well is very beneath of our expectations for 2013 and, after all, it is disappointing".
Last year the fleet of portacontainer of Hapag-Lloyd has transported cargo volumes pairs almost 5,5 million container teu, with a progression of +4.6% regarding 2012. "As many other operators of the market - Behrendt has commented - ciononostante we have not been able to avoid the tendency to the decrease of the hires, that it has been still characterized from the irrationality of the year a precedence". The medium hire for container in fact is diminished of the -6,3% coming down to 1.482 dollars/teu regarding 1.581 dollars/teu in 2012. Such contraction of the rates has been reflected on the reduction of the -4,0% of the total volume of transactions of the group, that it has moreover suffered mainly - has evidenced the German company - of the effect of the weakening of the dollar.
The bending of the recorded medium hire from Hapag-Lloyd has been gone emphasizing in the course of 2013 and the company has archived item the fourth trimester of the year with a decrease of the -8,4% of the revenues, that October-Decembers of 2012 are piled to 1,54 billion euros regarding 1,69 billion euros in the period. Hapag-Lloyd has found moreover that in the 2013 period of peak season that corresponds to the third trimester of the year not it has offered attended the important results so as instead precedence has happened the year. In the last trimester last year the operating result has been of sign negative for -27,4 million euros respect to operating liabilities of -5,4 million euros in the same period of 2012. EBITDA and EBIT are dropped respective of the -6,5% and the -68,8% to 83,7 million euros and 500 thousand euros.
Hapag-Lloyd previews that in the next few months an improvement in the market of the shipping will happen and in particular in the segment of the container: "the perspectives - Behrendt has explained - are absolutely better for the field of the line transport, since in the first instance the insertion of new ability to marine transport will diminish and an increasing number of old ships will exit from the market for being demolished". Currently the pocketbook orders of the German company includes alone two portacontainer under construction, both of the ability to 13.200 teu, that they will enter in service the next month and will come employees on the routes for the Far East in the within of the services of the shipowning alliance G6 that sees Hapag-Lloyd beside companies APL, Hyundai Merchant Marine (HMM), Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha (NYK) and Orient Overseas Container Linens (OOCL).
With regard to the G6 Alliance, the German company has remembered that the alliance has decided the widening of the scope of own cooperation to the transpacifiche routes for the coast oriental of the United States and to the nordatlantiche routes with effect from according to trimester of this year once obtained the approval of the competent authorities ( on December 3, 2013 and 20 February 2014). As a result of such widening the G6 Alliance will put in field a fleet of about 240 portacontainer used in order to connect 66 ports in Asia, America and Europe.
The offered new of the G6 Alliance will be almost confronted to weapons pairs with that of the P3 Network, the new announced shipowning alliance from the first three world-wide companies of the field of line for ability to the fleet, Maersk Line, Mediterranean Shipping Company (MSC) and CMA CGM, that it has already obtained the green light of federal agency American FMC ( on 21 March 2014) and that, entering in activity in according to trimester of this year, it will employ a fleet of 255 portacontainer.
If Hapag-Lloyd, in the within of the G6 Alliance, is answering to the challenges of the globalization with the form of consolidation of the offer generated from the alliance between the marine carriers, the German company is also adapting to the evolution of the market through the modality of consolidation constituted from the fusion between marine companies to which the over recent years market it has made less mainly rerun because of the financial minor support to the initiatives granted from the bank system. Hapag-Lloyd has in existence in fact from last December a project of fusion with the Chilean South American Compañía de Vapores (CSAV) that it has led at the beginning of this year in the subscription of a memorandum of understanding ( on 23 January 2014) and that it currently still sees in course the negotiations and the procedures of two diligence. With the fusion the Hapag-Lloyd new, than now is the sixth world-wide company of the field of line for ability to the fleet, would become the fourth company of the market behind of Maersk Line, MSC and CMA CGM climbing over the taiwanese Evergreen Line and Chinese COSCON.
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