Hamburg Süd’s 2009 fiscal year report shows the Company’s revenues shrank by 28% to $4.3 billion year-over-year, the Journal of Commerce reported yesterday citing the HS statement. Hamburg Süd’s container throughput dropped by13% to 2.3 billion TEUs.
Hamburg Süd has reduced the number of its fleet vessels to 96 ships (-13%) and replaced smaller charter ships with larger new vessels. The Group’s container fleet capacity is currently at 304,000 TEUs. The Company operates its 148 container carriers fleet, including its own 36 vessels.
In 2009, Hamburg Süd Company reduced its capital spending to $225 million (vs $714m a year earlier). The Group projected to boost its capital expenditure to $944m in the next 3 years.
However, the Company’s staff rosy by 17% to 4,791 of employees.
Last year Hamburg Süd managed to cut costs by some $404 million through rationalized liner services.
However, the Company’s staff rosy by 17% to 4,791 of employees.
Last year Hamburg Süd managed to cut costs by some $404 million through rationalized liner services.
The dramatic bunker prices slump has led to fuel expenditure cut by the Company to some $700 million (vs $1.100m in 2008).
Hamburg Süd, founded back in 1871, is a Germany-based global container carrier of temperature-controlled cargo.
Hamburg Süd, founded back in 1871, is a Germany-based global container carrier of temperature-controlled cargo.