• 2018 August 13 13:27

    Hapag-Lloyd posts net loss of US$115.3m in H1 2018

    Hapag-Lloyd posted a net loss of €100.9m (US$115.3m) in the first half of 2018 with the German carrier coming under pressure from competition and operating costs.

    The net loss is double that of the first six months of 2017, €42.7m (US$48.8m), with increasing fuel costs, higher charter rates and slowly recovering freight rates all impact the company’s performance.

    Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “We are critically reviewing the economic viability of our ship systems and are further optimising our terminal contracts, to gain additional relief on the cost side.”

    Following the integration of United Arab Shipping Company (UASC) in May 2017, volumes were up by 39%  year-on-year to 5.85m teu. On a pro-forma basis, combining Hapag-Lloyd’s and UASC’s operations last year, volumes are up by 3.9%.

    Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 17% to €425.2m (US$485.9m), with EBITDA margin down from 8.1% to 7.8%. Revenues grew by 20% to €5.4bn (US$6.2bn).

    Freight rates decreased to US$1,020 per teu from US$1,065 per teu, while bunker prices rose to US$385 per tonne, up from US$312 per tonne in the same period last year. On a pro-forma basis freight rates are up 3%.

    Jansen said: ““For the remainder of the year, we see a slow but steadily improving market environment, but we recognise that there are still significant geopolitical uncertainties that could influence the market.

    “This only reinforces the necessity to be able to react quickly when needed – and we therefore will accelerate some of our digitalisation initiatives and finalise our new strategy until the end of this year.”




2018 November 21

10:56 Nobel laureate will speak at VIII International Forum "Arctic: Today and the Future" with a report on climate change
10:33 Transport Week participants named imperfect regulations the key problem of seaborne transport
10:10 Brent Crude futures price up 1.63% to $63.55, Light Sweet Crude – up 1.7% to $54.34
09:49 SHI receives AiP from LR for INTELLIMAN smart ship solution
09:35 Bunker prices continue decreasing at the Port of Saint-Petersburg, Russia (graph)
09:14 Baltic Dry Index is down to 1,003 points

2018 November 20

18:21 Igor Levitin suggests separating positions of Deputy Transport Minister and head of Rosmorrechflot
18:06 MAN Energy Solutions wins order to supply the engine for a new dredger in southern China
17:53 Workshop aimed at building oil pollution preparedness and response capacity held in the Republic of Guinea
17:36 “K” Line announces delivery of new LPG carrier for Gyxis Corporation
17:18 Atomflot: first delivery of fish by NSR expected in summer-autumn season of 2019
17:04 Diana Shipping announces time charter contract for m/v Sideris GS with Berge Bulk
16:47 Rashid Sharipov as Chairman of the Board of Directors NCSP BoD
16:25 NIBULON Shipbuilding and Repair Yard launched second POSS-115 Project tug
16:04 OOCL announces improvements to Asia – Middle East 1 and Asia – Middle East 3
15:50 Storage area line launched at Vostochny Port’s Phase 3
15:34 New overpass at Maasvlakte 2 opens
15:03 Port of Oakland works to reduce impact of trucks
14:33 The port of Marseille Fos is engaged in reducing shipemissions by developing LNG as a marine fuel
14:03 Teesport Intermodal Rail Terminal celebrates fourth anniversary
13:43 12th Transport of Russia Forum and Exhibition opens in Moscow
13:10 Damen signs with Rimorchiatori Spezzini for two new Damen ASD Tugs 2411
13:02 Bunker prices are going down in the Far East ports of Russia (graph)
12:38 CCCC Dredging supports the 6th Forum of Dredging Companies as its Sponsor
11:54 Concession agreement signed for construction of coal terminal “Lavna”
11:30 OOCL introduces the new West Africa Service 2
10:45 Major ASW ship Severomorsk of RF Navy's Northern Fleet escorts Indian civilian vessel in the Gulf of Aden
10:23 Russian Railways’ BoD makes decision on discounts for cargo transportation in 2019
10:00 Brent Crude futures price down 0.39% to $66.53, Light Sweet Crude – down 0.24% to $57.06
09:19 Baltic Dry Index is down to 1,023 points
08:51 Valenciaport container vilume increased by 4.78% in the last twelve months
07:51 Klaveness Combination Carriers declares option for sixth combination carrier newbuild

2018 November 19

18:37 IMO holds workshop boosting maritime security in Gulf of Guinea
18:05 MOL conducts tabletop drill for LNG carrier
17:49 Hapag-Lloyd to start new Asia – Gulf Service (AGS)
17:43 Busan Port Authority signs Letter of Intent for the Maasvlakte Distribution Park West
17:01 Ocean Network Express expands the partnership of Asia - South America
16:32 BIMCO standard ship repair contracts overhauled
16:05 Port of Hamburg railborne container transport up 4.3 percent in the first nine months of 2018
15:44 FESCO and DB Cargo plan to launch joint transit shipments from China to Europe via Kaliningrad
15:10 Costamare announces the acquisition of the York Capital majority interest in five 14,000 TEU containerships
14:56 Half a billion tones of Kazakhstan oil lifted from CPC Marine Terminal
14:47 Saipem 7000 semi-submersible at Damen Verolme Rotterdam for DPS upgrade
14:33 OpenRisk launches guideline for risk management at sea to improve response to accidental spills
13:59 NCSP Group's consolidated cargo turnover for January-September totaled 105,253 thousand tons
13:11 Average wholesale prices for М-100 HFO down to RUB 19,660 in RF spot market
12:47 ABP invests over £1 million on a rooftop solar project at the Port of Goole
12:18 Damen supports 2nd Dredging and Hydraulic Engineering Structures Congress as its General Sponsor
12:00 The Fjords plans to add another all electric passenger vessel to its fleet
11:36 TOTE Services' Philip Greene Jr. retires next year
11:02 Damen Shipyards Group celebrates Multraship Carrousel RAVE Tug winning KNVTS Ship of the Year Award
10:44 Port of Oakland cargo volume up 3.9 percent in August - October 2018
10:43 Throughput of Port Vysotsky up 9.4% to 6.34 million tonnes in 10M’18
10:19 Brent Crude futures price up 0.69% to $67.22, Light Sweet Crude – up 1.02% to $57.26
09:57 Media Group PortNews issues special edition of its magazine for Transport Week 2018
09:35 Rosmorrechflot reduced operation period of locks in Volga-Don Basin
09:18 Baltic Dry Index is up to 1,031 points

2018 November 18

16:21 Wellington ferry skipper fined $1,688 after grounding
15:04 SFL continues its fleet renewal programme, to sell its 2002-built VLCC
14:37 Austal delivers Expeditionary Fast Transport ship USNS Burlington to U.S. Navy