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

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Finance

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Container Ships

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.1320 sec (8 req/sec)