• 2019 March 22 15:30

    Hapag-Lloyd announces 2018 results

    Hapag-Lloyd has disclosed its 2018 annual report today. Based on the audited figures, the group net result increased to EUR 46 million for the year 2018 and was EUR 13 million higher compared to the previous year (2017: EUR 33 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 1,138 million (2017: EUR 1,055 million). Earnings before interest and taxes (EBIT) went up to EUR 443 million (2017: EUR 411 million). Both, EBITDA and EBIT, are at the upper end of the ranges forecast for the 2018 full financial year (EBITDA: EUR 900 to 1,150 million; EBIT: EUR 200 to 450 million)

    “The market environment in 2018 was certainly not easy: In the first half of the year, freight rates were below our expectations and bunker prices and costs increased during the year. In the second half of the year, however, these effects were partially offset as we benefitted from higher global transport volumes, better freight rates and improvements on the cost side. All in all, we are satisfied with the financial results for 2018”, said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd.

    Revenues increased by 15 % in 2018 to EUR 11.5 billion (2017: EUR 10.0 billion), in particular due to the merger with UASC and the associated 21 % increase in transport volume, to 11.9 million TEU (2017: 9.8 million TEU). Transport expenses were primarily driven by strong volume growth and a significantly higher average bunker consumption price of 421 USD/tonne (2017: 318 USD/tonne), increasing by 18 %, to EUR 9.4 billion (2017: EUR 8.0 billion), proportionally less than transport volume. At 1,044 USD/TEU, the average freight rate for the year as a whole was below the prior-year level (2017: 1,060 USD/TEU), with a better fourth quarter at 1,079 USD/TEU (Q4/17: 1,038 USD/TEU). On a pro forma basis and when compared to the combined business of Hapag-Lloyd and UASC for the full year 2017, the transport volume is up 6 % and the average freight rate is up 2 %.

    As of 31 December 2018, Hapag-Lloyd had EUR 6.3 billion (2017: EUR 6.1 billion) in equity and a liquidity reserve (cash, cash equivalents and unused credit facilities) of EUR 1.1 billion (2017: EUR 1.1 billion). Net debt amounted to EUR 5.4 billion (2017: EUR 5.7 billion) at the balance sheet reporting date.

    Based on the positive business development, the executive board and the supervisory board of Hapag-Lloyd AG have decided to propose to the Annual General Meeting the payment of a dividend of around EUR 26 million, equivalent to 15 cents per share, for the business year 2018.

    In its most recent economic outlook for the year 2019, the IMF expects a global economic growth of 3.5 % and global trade volume to increase by 4.0 %. Hapag-Lloyd is anticipating a rise in the transport volume in 2019 in line with the general growth of the market. Additionally assuming a lower increase in global transport capacity compared to 2018, Hapag-Lloyd’s average freight rate in 2019 is likely to increase slightly compared with the previous year. Hapag-Lloyd is also expecting the average bunker consumption price in 2019 to be moderately higher compared to the previous year.

    Provided that Hapag-Lloyd achieves the expected freight rate, the anticipated improvement in revenue quality combined with the cost savings as part of Strategy 2023, and the expected growth in volumes, it is forecasting an EBITDA in the range of EUR 1.6 to 2.0 billion and an EBIT in the range of EUR 0.5 to 0.9 billion. Accounted for here is the currently expected impact on EBITDA in the range of EUR 370 to 470 million as well as EBIT in the range of EUR 10 to 50 million related to the implementation of the reporting standard IFRS 16.




2019 April 18

18:36 South Stream Transport B.V. and Saipem announce the amicable settlement of mutual differences
18:06 Seaway 7 selected as partner to develop Hollandse Kust Zuid Offshore Wind Farm
17:36 WinGD reports strong first quarter 2019
17:11 Launching ceremony held for eighth shallow-draft barge of Project ROB20
17:05 SOFEC completes engineering, supply and delivery of mooring system
16:26 Port of Murmansk to welcome eight cruise liners in summer season of 2019
16:05 Cooperation agreement between Eimskip and Royal Arctic line approved by the Icelandic Competition Authority
15:44 Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
15:12 Nefteflot laid down two barges of Project RDB12 ordered by STLC
15:10 MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
14:40 Port of Rotterdam freight throughput grows by 5.1% in first quarter of 2019
13:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:03 Biggest European shipbuilders collaborate on vessel connectivity in project Code Kilo
12:49 NOVATEK reports preliminary operating data for the first quarter 2019
12:13 Frontex, EMSA and EFCA open second annual European Coast Guard Event
11:51 RF Navy’s Northern Fleet takes part in combat training missions as part of final check for winter training season
11:27 ASCO took part in TransRussia-2019
11:00 ZIM joins to blockchain shipping solution TradeLens
10:44 Shareholders agreement on construction of Lavna terminal signed under Murmansk Transport Hub project
10:28 Brent Crude futures price is up 0.1% to $71.69, Light Sweet Crude – up 0.09% to $63.82
10:09 ABS teams with industry leaders to improve container vessel safety
09:53 Keppel secures integration and upgrading contracts worth around S$160 million
09:37 Tri-City ports take part in Seatrade Cruise Global
09:36 Bunker Market this morning, April 18
09:15 Baltic Dry Index is up to 767 points

2019 April 17

19:00 SMS Towage’s Humber fleet adds new tug
18:36 CMA CGM has announced FAK rates from Asia to North Africa
18:06 DESMI's CompactClean Ballast Water Management System receives US Coast Guard Type Approval
17:36 Denmark's first new-build hybrid ferry on key passenger route
17:06 CMA CGM announces FAK rates from Asia to the Mediterranean
16:38 Matson receives new cranes at its Honolulu hub terminal
16:17 Stena Europe undergoes refit upgrades in Turkey
16:11 Kuehne + Nagel launches first online seafreight service solution with guaranteed lead time in container shipping
15:40 HELCOM addressed nutrients, stormwater and microlitter issues at PRESSURE 10-2019
15:04 Murmansk Commercial Seaport commissions dust and wind shields
14:39 Port of Riga and Port of Qingdao sign Cooperation Agreement
14:02 Damen launches two road ferries for Canadian operator BC Ferries
13:22 DNV GL awards CMHI AIPs for two new offshore designs
12:53 Pacific Fleet warships and Royal Thai Navy hold joint trainings in the Sea of Japan
12:31 Port of Cardiff prepares for start of 2019 cruise season
12:22 Tristar Group signs second major deal with Shell for 6 chemical tankers
12:06 Far East ports’ capacity exceeds that of Russian Railways by 30-40%
11:38 Gazprom Neft completed development of logistic scheme for shipments of Arctic oil under Novy Port project (video)
11:09 GTT posts revenues of €58.9 million in Q1 2019
10:45 Yury Gilts appointed as Managing Director of Volga Shipping Company
10:23 Brent Crude futures price is up 0.36% to $71.98, Light Sweet Crude – up 0.67% to $64.48
10:09 Arkona offshore wind farm switched on in the Baltic Sea
09:37 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:34 MABUX: Bunker market this morning, Apr.17
09:19 Baltic Dry Index is up to 749 points
09:04 Keppel receives final approval for the conversion of Gimi FLNG project

2019 April 16

18:36 Bahri further strengthens market footprint in Asia-Pacific region
18:06 Talos Energy provides additional update on Zama appraisal program
17:50 SCF's “Green Finance” wins Marine Money award
17:36 Songa Bulk ASA to merge with Axxis Geo Solutions AS
17:21 Amphibious ships of RF Navy’s Northern Fleet take part in drills in the Barents Sea
17:06 Fincantieri delivers FREMM “Antonio Marceglia” to the Italian Navy
16:56 Scorpio Bulkers announces sale and leaseback agreements for six dry bulk vessels
16:43 Digital Container Shipping Association launched with Maersk exec installed as CEO
16:22 Nauticor commences supply of LNG by ship to the Gothia Tanker Alliance