Still a trimester with disappointing results for Hapag-Lloyd



Sembra by now beeed exhausted the positive effect on the economic results of the company of navigation Hapag-Lloyd di Amburgo of the acquisition of the services of containerized transport of the Compañía Chilean American South de Vapores (CSAV), activities that have entered in the perimeter of consolidation of the German company 2 December 2014. If after that date, in fact, Hapag-Lloyd clearly has archived item the three successive trimesters with an emphasized increase of the economic result, always of positive sign, and a rise of the volume of transactions determined from the acquisition of the branch of business of the Chilean company, than now is the main shareholder of the Hapag-Lloyd of which it stops 31.4% of the capital, then they are followed three closed trimesters with an economic result clearly of sign negative and with a progressive reduction of the turnover.

the last one of these quarterly periods, finished 30th june, has recorded revenues pairs to 1,86 billion euros, with a contraction of the -21,4% regarding 2,37 billion euros in the period April-june of 2015. The reduction of the revenues is determined by the emphasized decrease of the hires, with a medium hire who in according to trimester of the 2016 has attested himself to single 1,019 dollars for container teu, inferior value of the -19,4% regarding that of 1.264 UDS/teu of according to trimester of 2015. Moreover, after 13 closed consecutive trimesters in increase, in according to trimester of 2016 the total total of the transported containerized cargo volumes is diminished also from the ships of the fleet of the German company that has been pairs almost 1,9 million teu, with a decrease of the -2,7% on according to trimester last year.

In according to trimester of the 2016 operating costs has marked a decrease of the -17,6% attesting itself to 1,61 billion euros. The EBITDA has been pairs to 73,3 million euros (- 65.0%) and the EBIT has been of sign negative and pairs to -44,5 million dollars respect to a result of positive sign for 93,4 million dollars in the period April-june of 2015. Hapag-Lloyd has concluded the second trimester of this year with a net loss of -99,3 million dollars respect to a profit clearly of 29,0 million dollars in the correspondent period of 2015.

returned the operating and economic results notice today from Hapag-Lloyd show that the bending of the volumes transported from the fleet of portacontainer in according to trimester of this year has been yields of decreases recorded from the services realized along the routes ocean-going liners, by which 9.1%) and on the routes with the Far East, with total are transported 398 thousand teu (- 2.5%), on the routes with the Latin America, that they have totaled 551 thousand teu (- 302 thousand teu (- 6.5%). On the transpacifiche routes the total has been of 365 thousand teu, unchanged regarding according to trimester of 2015, on those with Europe, the Mediterranean, Africa and Oceania have been pairs to 106 thousand teu (+14.0%) and on the routes intra-Asians to 106 thousand teu (+13.3%).

the medium hire has turned out in decrease in all the markets: relatively to the services ocean-going liners USD/teu (- 12.1%), to the services with the Latin America to 965 USD/teu (- 18.6% has been 1.319 pairs to), to the services with Far East to 723 USD/teu (- 25.2%), to 1.223 the transpacifici services to USD/teu (- 25.9%), to the 548 services intra-asiati us to USD/teu (- 19.2%) and to the services with Europe, the Mediterranean, Africa and 1.064 Oceania to USD/teu (- 12.7%).

In the first semester of the 2016 Hapag-Lloyd has recorded revenues pairs to beyond 3,78 billion euros, with a bending of the -18,9% regarding 4,67 billion euros in the first half of 2015. EBITDA and EBIT have been both of sign negative and pairs to -51,9 million and -39,7 million euros regarding results of positive sign for 257,8 million and 267,7 million euros in the first six months last year. Of sign negative also the economic result clearly that it has been pairs to -142,1 million euros respect to a profit clearly of 157,2 million euros in the first semester of 2015.

In the first six months of the 2016 ships of Hapag-Lloyd has transported 3,7 million teu (- 0.5%) and the medium hire for container teu have turned out pairs to 1.042 dollars (- 19.6%).

the managing director of the German company has manifested disappointment for the results achieved in the first half of this year: "our measures of control of the costs and the programs thesis to the efficientamento are on and the synergies deriving from the fusion with CSAV are coming true the plans second - it has found Rolf Habben Jansen - however - it has added - this are not sufficient to completely compensate the remarkable decrease of the medium hire. Even if the hire installments finally have been raised in some segments of traffic going towards the high season - it has found Habben Jansen - this recovery are happening more late of the previewed one and are necessary that it is more consisting in future".

"our main objective in the second half of the year - it has continued Habben Jansen - will be that to ulteriorly improve our base of costs and to make all this that it is possible in order to do so as that the hires tornito to a more sustainable level". The managing director of the Hapag-Lloyd has made reference also to the procedures currently in course for the fusion with the Middle Eastern company United Arab Shipping Company (UASC): "in this difficult competitive context - he has explained - it is a lot important that the transaction with UASC is capacity to term in the short possible time and that the start of integration of the UASC is put into effect immediately after the completion of all the preliminary conditions".

To confirmation that Habben Jansen, like many other top manager of the main companies of the marine transport of line, considers that the scope of these shipowning concentrations is also that to reduce the costs, the CEO of Hapag-Lloyd has emphasized that "this integration will clearly bring us synergies for a annual value pairs at least 400 million dollars, part of which must already have effect the next year". It is favorable that such synergies have a more long-lasting effectiveness regarding those put into effect thanks to the fusion with the CSAV.