English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Hapag-Lloyd turns to profit

HAMBURG: Hapag-Lloyd has reported Q3 revenue of €2.1 billion - up from €1.7 billion year-on-year. EBITDA rose from €111.4 million to €197.3 million in the same period to produce a net profit of €3.2 million from a loss of €50.7 million in 2014.

For the first nine months of 2015, the carrier reported revenue of €6.8 billion compared to €4.9 billion year-on-year; EBITDA rose €187.6 million to €690.6 million and net profit was €160.4 million compared to a loss of €224 million for the same period last year. Transport volume rose 28.3 to around 5.6 million TEU in the first nine months of 2015.

The company said the rise in revenue was due largely to the merger with the container shipping activities of CSAV. The average freight rate in the first nine months of 2015 was US$1,260 USD per TEU, 12 percent below the same period of 2014.

Hapag-Lloyd completed an initial public offering on November 06 this year and generated US$300 million that will be invested in new vessels and containers.

"We are satisfied with our results for the first nine months of 2015, given the very challenging market environment", said Hapag-Lloyd CEO Rolf Habben Jansen. "The third quarter proved once more that the merger with CSAV was the right step and that our cost reduction measures are making us competitive. With the proceeds from the IPO, we will be able to invest in the future to further improve efficiency and profitability," he added.

More News

Written on 24/07/2017, 15:30
customs-app-a-hit-at-brusselsBRUSSELS: July 23, 2017. A new Customs Export app is proving popular among the BRUcargo forwarding community at Brussels Airport following a launch at the...
Written on 21/07/2017, 21:30
u-s-trucking-volumes-continue-to-growARLINGTON, VA: July 19, 2017. The American Trucking Associations' latest forecast says U.S. freight volumes will grow 2.8 percent in 2017 and then average...
Written on 21/07/2017, 17:15
turkish-cargo-supports-perishables-exportersISTANBUL: July 21, 2017. Phuket has become Turkish Airlines 300th destination with the launch of a four times weekly passenger service plus A330 freighter...
Written on 21/07/2017, 15:14
united-cargo-increases-revenueCHICAGO: July 18, 2017. United Airlines has reported a 39.1 percent increase in net profit to US$818 million for the second quarter 2017 on a 6.4 percent...
Written on 19/07/2017, 21:52
dhl-vietnam-delivery-goes-electricHO CHI MINH City, Vietnam: July 17, 2017. DHL eCommerce has launched a nationwide domestic delivery operation including the use of electric motorbikes for...
Written on 18/07/2017, 20:18
bahri-and-bollore-build-a-businessRIYADH: July 18, 2017. The National Shipping Company of Saudi Arabia (Bahri) is setting up a joint venture with Group Bolloré to provide end-to-end...
Written on 18/07/2017, 16:22
seatrade-and-cma-cgm-to-launch-reefer-serviceMARSEILLE/ANTWERP: July 17, 2017. CMA CGM and ocean reefer specialist Seatrade are to begin a vessel-sharing agreement for perishables in October...
Written on 17/07/2017, 13:12
freightweek-news-update-week-29LONDON: July 21, 2017 - In response to demand on its North Sea route from Rotterdam (Europoort) to Harwich (UK), Stena Line is replacing its current RORO...
Written on 14/07/2017, 19:37
successful-first-test-for-hyperloop-oneNEW YORK, July 12, 2017 Hyperloop One has completed the first test of its vacuum transport system with a vehicle coasting for 5.3 seconds using magnetic...
Written on 13/07/2017, 20:12
istanbul-new-airport-signs-250-million-cargo-contractsISTANBUL: July 12, 2017. İstanbul New Airport has signed 25-year leases valued at €250 million with six cargo operators. MNG, PTT, Çelebi Ground...
Written on 11/07/2017, 21:40
turkish-airlines-continues-support-for-new-albania-airlineISTANBUL: JULY 10, 2017. M. İlker Ayci, chairman of Turkish Airlines, said the expected downsizing of Italian airline services to Albania creates a "high...
Written on 11/07/2017, 20:22
freightweek-news-update-week-28AMSTERDAM: July 14, 2017. SkyTeam, the global airline alliance, has appointed Nico Van der Linden as vice president Cargo from July 01, 2017. Read...
Written on 11/07/2017, 19:53
expanding-pharma-future-for-amerijetFORT LAUDERDALE, FL: July 11, 2017. Amerijet International has announced it is the first U.S. all-cargo airline to earn IATA's CEIV- Pharma...
Written on 10/07/2017, 22:46
rembrandt-returns-from-russiaAMSTERDAM: July 10, 2017. KLM Cargo is to deliver 63 Dutch Masters, including six Rembrandts, from the State Hermitage Museum in St Petersburg to the...
Written on 10/07/2017, 22:01
delta-creates-certified-pharma-networkATLANTA: July 10, 2017. Delta Cargo has become the first U.S. major carrier to be awarded IATA's Center of Excellence for Independent Validators (CEIV)...
Written on 09/07/2017, 22:24
cosco-shipping-buys-orient-overseasSHANGHAI/HONG KONG: July 09, 2017. COSCO Shipping Holdings and the Shanghai International Port Group (SIPG) are to acquire Orient Overseas International...
Written on 06/07/2017, 22:21
swiss-link-germany-to-belgium-and-hollandFRENKENDORF, Switzerland: July 06, 2017. Container handling and logistics company Swissterminal has begun a new Swisstrain box service to the Port of...
Written on 06/07/2017, 21:21
tnt-makes-progress-in-petya-recoveryMEMPHIS: July 06, 2017. FedEx reports most services from its TNT subsidiary are now available with all depots, hubs and facilities open, operational and...
Written on 05/07/2017, 22:35
luxembourg-says-it-with-flowers-hola-quitoQUITO, Ecuador: July 05, 2017. Cargolux Airlines has added Quito to a four-times a week roundtrip B747 freighter service that links Luxembourg, Curitiba...
Written on 05/07/2017, 21:14
cma-cgm-cuts-debt-with-sale-of-los-angeles-terminalMARSEILLE: July 03, 2017. CMA CGM is selling a 90 percent stake in its Global Gateway South (GGS) terminal at the Port of Los Angeles to EQT...

- powered by Quickchilli.com -