Independent journal on economy and transport policy
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SHIPPING
In the third quarter, Hapag-Lloyd's revenues fell by -11.3%
The fleet transported more than 3.4 million containers (+6.1%). In the period, the traffic handled by HHLA's port terminals grew by +4.5%
Amburgo
November 13, 2025
In the third quarter of 2025, the shipowner's revenues
Hapag-Lloyd amounted to €4.66 billion, with a
a drop of -11.3% on the same period last year. If the revenues
of the port terminals segment operated by the Group marked
an increase of +12.0% having amounted to €112 million, revenues
generated by the containerized shipping business
of the company recorded a decrease of -11.4% falling
to 4.58 billion, a decrease that was produced by the
-13.7% reduction in the average value of freight rates partially
balanced by the +6.1% increase in volumes of goods transported
from the fleet.
In particular, in the period July-September of this year, the
container ships of Hapag-Lloyd have carried cargoes equal to
a total of 3.42 million TEUs and the average freight rate for this
activity amounted to $1,391/TEU. On
Asia-Europe routes alone, ships transported 983 thousand TEUs (+0.9%)
and in this market the average value of freight rates was
1,244 dollars/teu (-26.8%) and that of total revenues of 1.04
billion euros (-31.0%). On the transpacific routes, traffic
handled amounted to 1.02 million TEUs (+19.2%) and in
market segment, the average value of freight rates was
of 1,531 dollars/teu (-18.9%) and the related revenues stood at
to 1.33 billion euros (-9.4%). On transatlantic routes, ships
of the company transported 692 thousand TEUs (-0.9%),
which produced revenues of €883.3 million (-2.1%) on the
based on an average freight rate of 1,498 dollars/TEU (-13.7%).
On the routes with Africa and in other intra-regional trades, the
ships transported 730 thousand TEUs (+4.4%), an activity that
generated revenues of €806.2 million (-5.9%) and which
recorded an average freight value of 1,292 dollars/teu (-3.9%).
In the third quarter of this year, the value of operating costs
products from liner shipping activities and
the German group's terminal sales were 3.51
billion, with an increase of +4.7% to which they contributed
mainly the growth in expenses related to travel and
ships (686.6 million, +21.4%) and those relating to equipment and
their repositioning (€485.5 million, +14.7%). The margin
Group gross operating income was €735.3 million
(-50.4%), with a contribution of €710 million from shipping
containerized (-50.8%) and 26 million from port terminals
(-33,3%). EBIT totalled €190.0 million (-80.4%), with
contributions of €183 million (-80.8%) and seven million respectively
(-66.7%) from the two main business segments. Hapag-Lloyd has
closed the quarter with a net profit of €137.6 million
(-85,6%).
Meanwhile, the German terminal operator Hamburger Hafen
und Logistik AG (HHLA), which is owned by the city
Hamburg (50.1%) and the Swiss shipping group MSC (49.9%) and
which is linked to Hapag-Lloyd through 25.1% of the capital
which the latter owns in the Container Terminal Altenwerder
(CTA), which is controlled by HHLA with 74.9%, has
The third quarter of 2025 was closed with revenues of 446.9
million euros (+5.7%), of which 437.7 million generated by the
port activities (+5.9%). EBITDA and EBIT were
amounting to €81.5 million (+5.2%) and €37.8 million respectively
(+10.0%) and profit after tax at €20.6 million (+20.5%),
with a contribution of 19.1 million from port activities
(+30,7%).
In the period July-September 2025, the port terminals of
HHLA handled container traffic of 1.63
million TEUs (+4.5%), of which 1.54 million TEUs in the port of São Paulo alone.
Hamburg (+4.1%) and 85 thousand TEUs in the group's foreign terminals
(+13,3%). In addition, HHLA handled traffic in the quarter
intermodal sector equal to 504 thousand TEUs (+3.3%).
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