Independent journal on economy and transport policy
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SHIPPING
In the fourth quarter of 2023, Hapag-Lloyd's revenues fell by -48.8%
First net loss after 21 consecutive quarters of earnings
Amburgo
March 14, 2024
The annual financial statements presented today by the
German container shipping company Hapag-Lloyd confirms the almost
halving of revenues recorded in 2023 and announced at
January, with revenue totaling $19.39 billion,
with a decrease of -46.7% on the 2022 financial year
(
of 30
January 2024). In line with preliminary estimates, the
Decreases in Ebitda and profit
which in 2023 fell by -76.4% and
-85.2% to $4.82 billion and $2.74 billion. Net profit is
result of $3.19 billion, with a contraction of
-82.2% on FY 2022.
The significant reduction in turnover was due to the
caused by the drastic drop in the average value of sea freight rates, which
Last year, it was $1,500 per container
TEU transported by the fleet (-46.7%). In particular, in 2023 the
Average value of freight rates relating to the traffic market alone
ocean liners was $1,903/TEU (-35.4%),
transpacific trade of 1,675 USD/TEU (-56.3%),
average value of freight rates for services with Latin America of 1,664
(-38.8%), that of services with the Far East of
1,322 dollars/TEU (-57.8%), the average value of freight rates in the market
intra-Asian market of 755 dollars/TEU (-59.1%), that of services with
the Middle East by 985 dollars/TEU (-52.6%) and the services sector
with Africa at 1,612 dollars/teu (-36.8%).
In 2023, Hapag-Lloyd's container carrier fleet
transported cargo volumes of 11.91 million TEUs (+0.5%),
of which 2.91 million TEUs (-40.9%) transported by services with
Latin America, which generated revenues of 4.47
billion euros (-40.9%), 2.18 million TEUs (-2.2%) transported
from services with the Far East, shipments that have produced revenues
amounted to €2.66 billion (-59.8%), 2.03 million TEUs (-4.0%)
transported on transatlantic routes, with related revenues of
€3.57 billion (-39.7%), 1.87 million TEUs (+7.8%)
transported by transpacific services, with related revenues of
€2.90 billion (-54.1%), 1.43 million TEUs (-5.8%)
services to the Middle East, with related revenues
equal to 1.30 billion euros (-56.5%), 769 thousand TEUs (+21.3%)
transported on intra-Asian routes, with revenues of 537
million euros (-51.7%), and 721 thousand TEUs (+5.9%) transported by
services with Africa, with related revenues of €1.07 billion
euro (-34.7%).
In the fourth quarter of 2023 alone, the group's revenues
Hapag-Lloyd stood at $4.08 billion, with a
down -48.8% on the same period of the previous year.
EBITDA was $305.7 million
(-92,0%). After 29 consecutive quarters of positive data,
In the last quarter of 2023, the value of the operating result was
negative status and equal to -$251.1 million compared to
operating profit of €3.32 billion in the October-December period
of 2022. The net economic result, after 21 quarters of
positive signs, recorded a negative value of -234.3
million compared to net income of $3.29 billion in 2019.
fourth quarter of 2022.
In the period October-December last year, the fleet of the
The company transported 2.99 volumes of containerized cargo
million TEUs (+4.7%) and in the quarter the average value of freight rates was
Result of 1,190 dollars/TEU (-54.7%).
Commenting on the results achieved in 2023, the administrator
delegate of the German company, Rolf Habben Jansen, highlighted
whereas Hapag-Lloyd achieved the third highest profit value in the year.
in its history, "even if significantly
lower than in 2022, a year of exceptional
growth, due to the normalization of global supply chains."
Meanwhile, Hapag-Lloyd's supervisory board has confirmed
the position of CEO at Jansen until 31 March 2027, a position he holds
from July 1, 2014.
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