Hapag-Lloyd Report Business Turn-around in Q2 2012

Press Release
Wednesday, August 15, 2012

Hapag-Lloyd substantially increases rate, revenue & result in a successful Q2 2012 turn-around.

Following a seasonally weak first quarter, Hapag-Lloyd achieved a turnaround in the second quarter of 2012, improving its result by more than
EUR 125 million compared to Q1. This was primarily due to the rate increases successfully implemented by the Company, which started tobecome
effective in the second quarter.

In the second quarter, Hapag-Lloyd had to cope with a massive rise of EUR 330 million in transport expenses (+26%) as against the same period of last year. This stemmed particularly from soaring energy prices. At USD 694/tonne, the average bunker consumption price in Q2 was well above the going rate from a year earlier, which was already high (USD 609/tonne).

Despite the extreme pressure on costs, Hapag-Lloyd generated an operating profit of EUR 30.8 million (adjusted EBIT) in the second quarter of 2012. It thereby improved on its second-quarter performance from 2011 by 18%.

'Hapag-Lloyd increased the rate level very successfully in the second quarter. Following on from Q1 - which is always seasonally weak - this
means that we returned to operating profitability because we have a highly efficient cost management system and have consistently prioritised price quality over transport volume. However, the further increase in expenses for bunker and other energy costs prevented us from posting an even better result,' said Michael Behrendt, Chief Executive Officer at Hapag-Lloyd.
 

 

 

 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MN 100: AEP River Operations

16150 Main Circle Drive, Suite #400 St. Louis, MO 63017 Tel: (636) 530-2100  Email: info@aepriverops.com Website: www.aepriverops.com President: Keith Darling The

MN 100: Caterpillar Marine

Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: cat_power@cat.com Website: www.marine.cat.com Managing Director: Nigel Parkinson The Company: Caterpillar

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

Finance

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

W.Africa Crude Slow to Trade; Nigerian Glut Fading

Angolan cargoes for October loading are so far finding buyers slowly, traders said on Friday, while there were further signs that an overhang of September-loading Nigerian cargoes is being absorbed.

US Steel Producers Win Anti-dumping Case

The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers

Container Ships

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

Maersk Line Still the Leading Carrier on Reliability in Q2

During the second quarter, the overall industry reliability has improved. However, Maersk Line is pleased to have improved their performance so that they can

Evergreen Line Makes Maiden Call to Boston

Evergreen Line’s ItalLunare celebrated its maiden call to the Port of Boston with an official first call and plaque presentation on Wednesday, the Massachusetts Port Authority (Massport) announced.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1502 sec (7 req/sec)