Hapag-Lloyd's quarterly results confirm the exceptionally favourable market situation for containerised shipping companies

The series of new historical quarterly records starts with the volume Business recorded in the second quarter of this year which is result of 5.65 billion dollars, with exceptional growth +70.1% on the corresponding period of 2020. Less accentuated the revenue growth when valued in euros, being results equal to €4.69 billion (+55.3%). A new record value is also that of operating costs calculated in dollars, being the total of almost 3.0 billion (+30.7%), a value that is not the higher than ever achieved by the company, however, if the charges are counted in euro, the total value being equal to 2.49 billion (+19.3%).

Record values in both currencies were marked by EBITDA, operating profit and net economic profit that were equal to 2.33 billion dollars (+202.6%) (1.93 billion dollars) respectively billion euros, +176.5%), 1.95 billion dollars (+403.4%) (1.62 billion euros, +359.8%) and 1.83 billion dollars (+538.7%) (€1.52 billion, +483.7%).

Of the more than three million containers transported by the fleet of Hapag-Lloyd in the second quarter of 2021, 766 thousand teu are were transported on routes with Latin America (+14.8%), 596 thousand teu from services to the Far East (+20.4%), 467 thousand teu from services transatlantic (+5.7%), 462 thousand teu from transpacific services (+10.5%), 395 thousand teu on routes with the Middle East (+28.7%), 185 thousand teu on those with Europe / Mediterranean, Africa and Oceania (+14.9%) and 159 thousand teu from intra-Asian services (-24.6%).

The very significant growth of +55.3% in quarterly revenues €4.69 billion made a major contribution the sharp increase in the value of sea freight which in the period are amounted to a total average value of $1,714/teu (+53,9%). With regard to the activity of the group with Latin America revenues amounted to 936.2 million euros (+32.7%) and the average value for this market was $1,473/teu (+26.5%). The only amenities for the Far East have generated revenues of 1.05 billion euros (+137.2%) with a rental average relative to these routes which was 2,117 dollars/teu (+115.6%). Transatlantic services have created revenues of € 645.8 million (+14.5%) with a sea cargo average of $1,669/teu (+18.8%). The revenues from trans-Pacific services amounted to 865.1 million euro (+65.2%) and the average market profit was $2,256/teu (+63.7%). The turnover produced by the services with the Middle East it was 442.4 million euros (+85.0%) and the average market value was equal to $1,352/teu (+57.9%). Services with Europe/Mediterranean, Africa and Oceania totalled revenues of 221.9 million euro (+45.2%) with an average value of 1,444 dollars/teu (+38.0%). The revenues from intra-Asian maritime services amounted to 149.1 million euros (-24.6%) and the average market market profit was of $1,131/teu (+100.9%).

Commenting on the results for the second quarter of this year, Hapag-Lloyd's managing director, Rolf Habben Jansen, has specified that, if "we are, of course, pleased for these extraordinary financial results, however - he added - the packages Bottle in the supply chain continue to cause huge tensions and inefficiencies for all market participants and we have to do of our best to solve them together in the shortest time possible. However - warned Habben Jansen - looking in today's market environment we do not believe that the situation will soon return to normal despite all the efforts made and the additional capacity of containers that is entered. At the moment - he explained - we expect that the Market situation will loosen as soon as possible in the first quarter of 2022».