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.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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