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18 May 2022 The on-line newspaper devoted to the world of transports 04:32 GMT+2

May 12, 2022

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In the first three months of 2022, Hapag-Lloyd's revenues are Doubled

Habben Jansen: the peak of the market has already been exceeded

As it has happened consecutively in every quarterly period starting from the last of 2020, in the first quarter of 2022 the containerized shipping company Germany's Hapag-Lloyd again recorded financial performance record. Not so for operating performance, with volumes of cargoes carried by the company's fleet which, although in slight growth on the corresponding period last year, in the first three months of 2022 were -4.9% lower than to the historical record set in the last quarter of 2020 as well as -2.2% compared to the record for the first quarter of the year achieved in 2020.

In the first quarter of this year, thanks to an average value of freight that in the period has marked a rise of + 83.8% on the same quarter of 2021 being equal to 2,774 dollars/teu, i Hapag-Lloyd revenues increased by +96.1% standing at €7.98 billion compared to €4.07 billion in first three months of last year. Much smaller growth in operating costs that amounted to 2.95 billion euro (+30.0%), of which 1.49 billion in handling costs of loads (+23.3%), 581.4 million in costs for the purchase of fuels (+80.7%), 536.4 million in costs for the management of ships and voyages (+20.0%), 459.5 million depreciation and amortization write-downs (+49.7%), 341.8 million in costs for equipment and their repositioning (+23.2%) and 210.0 million euros in expenses for staff (+27.8%). Record values have been achieved both EBITDA of €4.25 billion (+198.4%), both from EBIT which amounted to 4.27 billion (+234.1%) and from net profit, result equal to 4.17 billion euro (+246.6%).

In the first three months of 2022, the container carrier fleet of the German company transported cargo volumes of 2.99 million teu (+0.4%), activity that generated revenues equal to 7.98 billion euros (+96.1%). The most relevant volumes of cargoes, equal to 735 thousand teu (-4.4%), were transported on the routes with Latin America, an activity that generated revenues equal to 1.71 billion euros (+97.4%) produced thanks to a value average freight that was equal to 2,616 dollars / teu (+92.4%). Consistent and equal to 601 thousand teu (+2.7%) were also the volumes transported on routes with the Far East, a market that has generated revenues of 1.75 billion euros (+83.0%) as a result of a average value of freight that for these services was equal to 3,265 dollars/teu (+66.0%). The transatlantic services of Hapag-Lloyd transported 489 thousand teu (-5.2%), which produced revenues of 1.06 billion euros (+89.6%) with a average value of maritime freight which was equal to 2,439 dollars/teu (+86.5%). On transpacific routes the company has transported 432 thousand teu (-1.1%) recording revenues of 1.46 billion euros (+107.7%) and a freight of 3,788 dollars/teu (+95.7%). On the routes with the Middle East the volumes transported amounted to to 414 thousand teu (+6.4%), with revenues of 753.9 million euros (+109.6%) and an average freight value of 2,047 dollars/teu (+83,8%). Services with Africa totalled volumes of 160 thousand teu, with a decisive increase of +49.5% deriving the effect of the acquisition of the company NileDutch ( of 8 July 2021), revenues of 360.3 million euros (+168.3%) with an average freight value which was 2,530 dollars/teu (+66,4%). Intra-Asian services transported 157 thousand teu (-8.2%), with related revenues of 287.0 million euros (+98.5%) and an average freight value which was 2,055 dollars/teu (+101,5%).

Commenting on the results obtained in the first quarter of 2022 Hapag-Lloyd's Managing Director, Rolf Habben Jansen, has underlined that "the year began overall in exceptional way and - he specified - even if there were the first signs that the market has already passed its point maximum, we also expect a remarkable second quarter."

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