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            january 21, 2020

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Hapag-Lloyd back in black with 30pc more sales and US$127 million profit


German shipping giant Hapag-Lloyd achieved a net profit EU114 million (US$127 million) in 2015, reversing itself from a EUR604 million loss the year before. Revenue increased 30 per cent year on year to EUR8.84 billion over the same period, according to Shipping Gazette.
"The result for the year is in line with our expectations. Hapag-Lloyd has delivered what we promised," said CEO Rolf Habben Jansen.
"Hapag-Lloyd has made up tremendous ground and is back among the top performers in the industry," he said.
"We've worked hard for this success by integrating CSAV's container business and by exploiting the synergies, as well cost-cutting and efficiency, which will make an earnings contribution of $600 million from 2016," Mr Habben Jansen said.
In 2015, Hapag-Lloyd's transport volume rose by 25.3 per cent year on year to 7.401 million TEU. The average freight rate in the previous financial year was 1,225/TEU, a decline of 2014.
Increases in volume and revenue were primarily attributable to the acquisition of CSAV's container activities, said the company statement.
The transport expenses grew 19.8 per cent to EUR 7.258 billion. but transport expenses per TEU decreased 20.1 per cent from $1,363/TEU in 2014 to $1,089/TEU last year.
"This is caused by a lower bunker consumption price, which, at $312 a tonne in 2015, was significantly below the previous year's level of $575 a tonne. Also lower consumption (per TEU transported) as well," he said.
"In 2016, we will continue to work on our competitiveness. We are well positioned thanks to our balanced portfolio across all trades and our strong presence in attractive niche markets such as reefer, special cargo, dangerous goods or cabotage."
The development of the business so far in 2016 is in line with expectations. "We believe that the ongoing consolidation and the upcoming new alliance set-up should add stability to the market, and that there will be some recovery of the market," Mr Habben Jansen said.

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