From The Loadstar:
Hapag-Lloyd will see billion-dollar profits this quarter and the next, as even higher freight rates kick in across global tradelanes.
Boosted by an ebitda of $1bn, and a net profit of $463m, in the final quarter, the German carrier posted a profit of $1.1bn for last year, compared with $418m the previous year.
But it said it expected profitability to “significantly increase” this year, and has issued guidance of an ebitda of $1.8bn for the current quarter.
Liftings declined by 1.6% in 2020, compared with the year before, versus Maersk’s -5% and CMA CGM’s -2.7%, to 11.8m teu, for a 3.3% revenue increase to $14.6bn and an ebitda of $3.1bn.
Average rate per teu increased 4%, to $1,115, which compares with Maersk’s $1,000, OOCL’s $1,100 and CMA CGM’s $1,154....
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