Hapag-Lloyd AG continues to make more money than expected as freight prices rise and therefore the german container carrier raises its guidance again. The large German container shipping company now expects to achieve an operating profit (ebitda) in 2024 of EUR 3.2-4.2bn, up from EUR 2-3bn. This is the second time this year that Hapag-Lloyd has raised its full-year guidance. #shipping #containershipping #oceanfreight #freight #finance #globaltrade #business #growth
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The upcoming alliance between A.P. Moller - Maersk and Hapag-Lloyd AG-, which was announced last week, is given high marks by the credit rating agency Moody's Corporation. ”We expect the new agreement to be credit positive for Hapag-Lloyd and to mitigate the credit-negative implications for Maersk of the 2M alliance termination,” Moody’s writes in a note. According to Moody’s, it is positive that Maersk has chosen to enter into a new alliance. Especially after Maersk terminated a multi-year agreement with MSC Mediterranean Shipping Company, the so-called 2M alliance, a year ago. #shipping #containershipping #freight #oceanfreight #logistics #collaboration #analysis
Credit agency gives thumbs up to Hapag-Lloyd and Maersk alliance
shippingwatch.com
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Hapag-Lloyd AG, like its competitors, is being hit hard by a container market where rates are in free fall. The container line expects several difficult quarters ahead. Hapag-Lloyd’s revenue for the quarter fell to EUR 4.0 billion from EUR 9.7 billion in the same quarter of 2022, the company's Q3 report shows. ”In response, we are working hard to reduce our expenses even more, such as by achieving savings on the procurement side and making adjustments to our service network. Nevertheless, if spot rates do not recover, we could face some challenging quarters in this subdued market environment,” CEO Rolf Habben Jansen comments. #shipping #freight #oceanfreight #containershipping #finance
Hapag-Lloyd to look at costs after severe plunge in freight rates
shippingwatch.com
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✔ Big news from the container shipping market and this time not related to the Red Sea Crisis: Hapag-Lloyd will leave THE Alliance and start a partnership with Maersk under the name 'Gemini Cooperation' from February 2025 onward. ✔ This news follows two other important developments on the alliance front in 2023: the announcement of MSC and Maersk in late January 2023 to discontinue the 2M alliance, set to end in January 2025, and the more recent decision of the EC to terminate the Consortia Block Exemption Regulation (CBER) from April 25, 2024 onward. ✔ As things stand now, by 2025, MSC will remain the only large container shipping line not being part of an alliance. In early 2024, MSC operated a fleet (owned and chartered) of about 5.6 million TEU, with an order book of an additional 1.4 million TEU. ✔Given the recent events, the relevant pages dedicated to alliances on the website of our book #port #economics #management and #policy (Theo Notteboom, Thanos Pallis and Jean-Paul Rodrigue) have been updated: https://lnkd.in/eS-HCP_p
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Never a dull moment in logistics and the container shipping market. It will be interesting to follow how things develop. One things is for sure - 2025 is going to be a major reshuffle of the alliances as we know them today. #containershipping #supplychain #oceanfreight
✔ Big news from the container shipping market and this time not related to the Red Sea Crisis: Hapag-Lloyd will leave THE Alliance and start a partnership with Maersk under the name 'Gemini Cooperation' from February 2025 onward. ✔ This news follows two other important developments on the alliance front in 2023: the announcement of MSC and Maersk in late January 2023 to discontinue the 2M alliance, set to end in January 2025, and the more recent decision of the EC to terminate the Consortia Block Exemption Regulation (CBER) from April 25, 2024 onward. ✔ As things stand now, by 2025, MSC will remain the only large container shipping line not being part of an alliance. In early 2024, MSC operated a fleet (owned and chartered) of about 5.6 million TEU, with an order book of an additional 1.4 million TEU. ✔Given the recent events, the relevant pages dedicated to alliances on the website of our book #port #economics #management and #policy (Theo Notteboom, Thanos Pallis and Jean-Paul Rodrigue) have been updated: https://lnkd.in/eS-HCP_p
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Marketing | Supply Chain | Ports & Logistics Business | Market Development | Futures Studies | Transport Corridors
Hapag-Lloyd AG, like its competitors, is being hit hard by a #container market where rates are in free fall. The #containerline expects several difficult quarters ahead. Hapag-Lloyd’s revenue for the quarter fell to EUR 4.0 billion from EUR 9.7 billion in the same quarter of 2022, the company's Q3 report shows. ”In response, we are working hard to reduce our expenses even more, such as by achieving savings on the procurement side and making adjustments to our service network. Nevertheless, if spot rates do not recover, we could face some challenging quarters in this subdued market #environment,” #CEO Rolf Habben Jansen comments. #shipping #freight #oceanfreight #containershipping #finance https://lnkd.in/eE-RBzFV
Hapag-Lloyd to look at costs after severe plunge in freight rates
shippingwatch.com
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International shipper Hapag-Lloyd AG sees a prolonged recession for the shipping industry, possibly for three years. Container shipping is cyclical, but we’ve seen demand for shipping services slowing for some time. But are we out ahead of the bottom, suggesting the rebound happens sooner than three years? https://lnkd.in/egPTj62q #freightforwarding #globalshipping #containershipping #globalsupplychain #WeAreunique
Hapag-Lloyd Expects Three Tough Years for Shipping Industry
marinelink.com
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Is it a correct assessment to state that the revenues 'fell' to € 4billion compared to € 9.7billion in 2022? The latter was the result of the COVID strategies that the carriers applied and allowed them to generate unsustainable revenues. Therefore it means that the revenue has developed back to organic and somewhat sustainable levels for them. It is not a loss since the revenue 'loss' is not necessarily the result of a challenger disrupting HL's performance, it just means that both feet are coming back to the ground.
Hapag-Lloyd AG, like its competitors, is being hit hard by a container market where rates are in free fall. The container line expects several difficult quarters ahead. Hapag-Lloyd’s revenue for the quarter fell to EUR 4.0 billion from EUR 9.7 billion in the same quarter of 2022, the company's Q3 report shows. ”In response, we are working hard to reduce our expenses even more, such as by achieving savings on the procurement side and making adjustments to our service network. Nevertheless, if spot rates do not recover, we could face some challenging quarters in this subdued market environment,” CEO Rolf Habben Jansen comments. #shipping #freight #oceanfreight #containershipping #finance
Hapag-Lloyd to look at costs after severe plunge in freight rates
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The Ocean Alliance, comprising major players like CMA CGM, COSCO, Evergreen, and OOCL, has extended its operational agreement until 2032. This move underscores the commitment of key stakeholders to long-term collaboration and stability in ocean freight. As global trade dynamics continue to evolve, such alliances play a pivotal role in optimizing efficiencies and driving innovation across supply chains. Dive deeper into the details of this extension in the full article. #OceanAlliance #MaritimeIndustry #SupplyChainCollaboration #GlobalTrade #IndustryNews #SupplyChainDive
Ocean Alliance extended for 5 additional years
supplychaindive.com
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PhD candidate | Researcher | Consultant | Logistics and Supply Chain | International Trade | Shipping | Trainer
🚢 Big news in container shipping! Hapag-Lloyd is leaving THE Alliance to join forces with Maersk as 'Gemini Cooperation' from February 2025. This move aligns with industry transformations, such as the pursuit of sustainability and reduced CO2 emissions, the green and digital transition in the port sector, disruption in supply chains, and recent global geopolitical developments. Stay tuned for a significant reshaping in the maritime transport landscape! #MaritimeTransport #Sustainability #GreenTransition 🌍🔗
✔ Big news from the container shipping market and this time not related to the Red Sea Crisis: Hapag-Lloyd will leave THE Alliance and start a partnership with Maersk under the name 'Gemini Cooperation' from February 2025 onward. ✔ This news follows two other important developments on the alliance front in 2023: the announcement of MSC and Maersk in late January 2023 to discontinue the 2M alliance, set to end in January 2025, and the more recent decision of the EC to terminate the Consortia Block Exemption Regulation (CBER) from April 25, 2024 onward. ✔ As things stand now, by 2025, MSC will remain the only large container shipping line not being part of an alliance. In early 2024, MSC operated a fleet (owned and chartered) of about 5.6 million TEU, with an order book of an additional 1.4 million TEU. ✔Given the recent events, the relevant pages dedicated to alliances on the website of our book #port #economics #management and #policy (Theo Notteboom, Thanos Pallis and Jean-Paul Rodrigue) have been updated: https://lnkd.in/eS-HCP_p
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Rolf Habben Jansen, CEO of Hapag-Lloyd, the world’s fifth-largest maritime shipping company, predicted in a CNBC interview on the 15th (local time) that the peak season for maritime logistics will come early this year, stating that the outlook for trade has improved for the remainder of 2024. On the 14th, Hapag-Lloyd announced that its net profit and dividends for 2023 had decreased sharply compared to 2022 due to container congestion and high freight rates, leading to a decline in stock prices. However, this was the third-best group profit in Hapag-Lloyd’s history. This fact demonstrated that the sharp decline in freight rates, sales, and EBITDA was not a fundamental weakness in Hapag-Lloyd’s business but rather a reflection of the bursting of the transportation demand bubble from the pandemic era.
Hapag-Lloyd CEO: “In 2024, the Peak Season for Maritime Shipping Will Come Early”
https://blogs.tradlinx.com
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