• 2018 November 8 14:04

    Hapag-Lloyd announces EUR 300.8 million EBIT after nine months 2018

    Hapag-Lloyd has concluded the third quarter 2018 with higher earnings before interest and taxes (EBIT) of EUR 212.1 million (Q3 2017: EUR 178.1 million) and a significantly improved group net result of EUR 113.4 million (Q3 2017: EUR 51.8 million). In the first nine months of 2018, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 813.7 million (9M 2017: EUR 722.8 million). EBIT amounted to EUR 300.8 million after nine months (9M 2017: EUR 268.8 million) with a positive group net result of EUR 12.5 million, being roughly on a par with the level of the nine-month result of 2017 (EUR 9.1 million).
     
    After the first nine months of the year, revenues stand at EUR 8.4 billion (9M 2017: EUR 7.3 billion). Significantly contributing to this development in revenues was a 27 percent increase in transport volume, which rose to 8,900 TTEU in the nine-month period (9M 2017: 7,029 TTEU). This increase especially resulted from the merger with United Arab Shipping Company Ltd. (UASC). The average freight rate decreased to 1,032 USD/TEU, which is below the prior-year level (9M 2017: 1,068 USD/TEU). On a pro forma basis and when compared to the combined business of Hapag-Lloyd and UASC in the nine-month period, the transport volume is up 5.5 percent and the average freight rate is up 1.4 percent. Bunker prices rose by USD 95/tonne in the first nine months 2018 compared to the respective period of the previous year and could not be fully offset by freight-rate increases in the third quarter. A weaker average US dollar exchange rate against the euro and significant upwards pressure on the operational costs were partly offset by synergies coming from the business combination with UASC and other saving measures.
     
    “We have seen a positive development in the third quarter and also ended on a positive group net result after nine months. Higher transport volumes, a better utilisation of our ships and the synergies from the recent merger with UASC have enabled us to partially offset rising operational costs. In addition, the average freight rate improved during the peak season in important trades. Despite the persistent upwards pressure on the operational costs in various parts of our business, we remain cautiously optimistic for the rest of the year,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.
     
    The developments in fuel costs and freight rates are in line with the forecast for 2018 as a whole, which was adjusted on 29 June 2018. This forecast remains unchanged and lies within a range of EUR 200 to 450 million for the EBIT and within a target corridor of EUR 900 to 1,150 million for the EBITDA. Based on the positive development we have seen in the third quarter of 2018, EBIT and EBITDA are expected to be in the upper part of these ranges for the 2018 full financial year.




2019 January 20

16:08 Subsea 7 acquires multi-purpose offshore construction and dive support vessel
15:03 TEPCO and Ørsted sign MoU to work jointly on offshore wind projects
13:51 Major contract for JSS awarded to Montreal-based company
12:42 Huntington Ingalls Industries to acquire Fulcrum IT Services
10:47 Algoma provides update on status of fleet renewal

2019 January 19

16:19 Ocean Yield acquires Suezmax tanker Milos for $56.0 million
15:16 Evac expansion continues with acquisition of UK service company Transvac Systems
14:02 Deltamarin contracted to continue with Titanic II project
12:51 SGRE launches 10 MW offshore wind turbine
11:44 Algoma increases its interest in the ocean self-unloader Pool

2019 January 18

18:06 North Carolina Ports sets new record in 2018
17:47 Freight turnover of Neva-Metal (Saint-Petersburg) in 2018 climbed by 3% Y-o-Y to about 3.2 million tonnes
17:25 Okskaya Sudoverf obtains patent for state-of-the-art pontoons
17:06 Hamburg prepares for ‘Hard Brexit’
16:44 Throughput of port Primorsk in 2018 fell by 7% Y-o-Y to 53.48 million tonnes
16:23 GTT receives a new order from SHI to design the tanks of two LNG carriers on behalf of Gaslog
16:20 NOVATEK elects new Board of Directors
15:56 Throughput of port Vyborg in 2018 grew by 25% Y-o-Y to 1.93 million tonnes
15:33 Stena Line’s first new generation ferry ‘floats’ in China
15:21 Bunker sales at the port of Singapore in 2018 fell by 1.7% Y-o-Y to 49.8 million tonnes
15:03 Panama Direct service CMA CGM to resume weekly rotations
14:47 Throughput of port Vysotsk in 2018 climbed by 7% Y-o-Y to 18.79 million tonnes
14:33 GranIHC appointed contractor for Equinor’s Peregrino Phase II Project
14:19 Port of Ust-Luga handled 98.72 million tonnes in 2018, down 4% Y-o-Y
14:03 Algoma Central Corporation increases its interest in ocean self-unloader Pool
13:50 18 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on January 17-18
13:35 Throughput of the Port of St. Petersburg in 2018 up 11% Y-o-Y to 59.32 million tonnes
13:18 CMA CGM unites its Containerships and MacAndrews brands
13:11 Vladimir Putin supports Government’s proposal on expanding Far East Ministry’s functions with Arctic issues
12:49 Throughput of port Kavkaz in 2018 grew by 11% Y-o-Y to 49.276 million tonnes
12:26 MV Werften purchases Neptun Ship Design
12:08 Sakaide shipyard holds naming ceremony for new LNG carrier jointly owned by NYK and JERA
11:38 PGNiG SA signs agreement for oil and gas exploration and production in UAE
11:14 Remote pilotage to be allowed in Finland
10:47 Free zone status is a crucial advantage for the future development of the Freeport of Riga
10:06 Ice restrictions at the port of Ust-Luga come into effect on January 31
09:42 Brent Crude futures price up 0.9% to $61.73, Light Sweet Crude – up 1.09% to $52.64
09:20 Baltic Dry Index is up to 1,077 points

2019 January 17

18:13 PORT OF KIEL presents annual results 2018
17:51 Ice restrictions at the port of Primorsk come into effect on January 25
17:28 Global Ports sets up a common service call centre
17:09 EFIP welcomes and supports the European Parliament position on the Connecting Europe Facility for 2021-2027
17:05 North Sea Port monitoring the Brexit closely
16:44 ABP invests £700K to boost storage at Port of Ipswich
16:27 Global fuel market: still many uncertainties in both demand and supply
16:22 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
16:05 OCEAN Alliance extends duration of OCEAN Alliance to ten years
15:42 COSCO SHIPPING Ports signs agreement with PSA to add two new berths at the terminal in Boao, Hainan
15:31 Liebherr supports the 6th International Forum of Dredging Companies as its Sponsor
15:02 Ocean Yield ASA agrees to acquire a modern Suezmax tanker for a consideration of USD 56.0 mln
14:02 SEACOR Marine enters agreement to acquire three additional platform supply vessels from affiliates of COSCO Shipping Group
13:49 Throughput of Chinese ports grew by 4.2% to 9.22 billion tonnes in 2018
13:32 Jensen Maritime provides design for Shaver Transportation’s new tugboat
13:14 OOCL rolls out third phase of Ocean Alliance product refinements
12:50 Baltic Ports Organization’s schedule for 2019 is set
12:38 Port of Los Angeles breaks all-time cargo record in 2018
12:26 Qatar accedes to load lines convention
12:01 Sunseeker International and Rolls-Royce to present first production yacht with MTU hybrid power in 2020
11:51 Bunker prices continue going down at the Far East ports of Russia (graph)
11:38 Port of Zeebrugge handled 40.1 million tonnes in 2018