Shipping: Shipping company Hapag-Lloyd earns well despite the economic downturn

Despite the economic downturn in Germany and global crises, the traditional Hamburg shipping company Hapag-Lloyd has earned well so far this year. The profit in the first nine months of this year was around 1.7 billion euros, as the company announced. For the year as a whole, Hapag-Lloyd expects earnings before interest and taxes (EBIT) of between 2.2 and 2.6 billion euros.

The background to the positive development is demand in the third quarter that exceeded expectations and improved freight rates – despite higher expenses due to the diversion of ships around the Cape of Good Hope. This was made necessary by the attacks in Yemen by the Houthis, who are allied with Iran.

“The first nine months of 2024 were characterized by unexpectedly strong demand,” said Hapag-Lloyd boss Rolf Habben Jansen. Despite the tense security situation in the Red Sea, the volume of transport continued to increase. “At the same time, we have commissioned a comprehensive new construction program for 24 ships with which we will further modernize and decarbonize our fleet and thus secure our long-term competitiveness.”