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2012 March 21   15:29

Hapaq-Lloyd posts financial results for 2011

According to Hapaq-Lloyd's annual report, consolidated net income for the reporting period ended December 31, 2011 totaled EUR 29 versus EUR 428 a year earlier. Earnings before interest and taxes adjusted slumped fivefold to EUR 101 million. Revenue for the period fell 1.6% to 6,1 bn. Freight rate (average for the period) was US$ 1,532 per TEU. Bunker price soared US$ 152 and totaled $605 a ton (vs $453/t in 2011). 
 
 
Hapag-Lloyd is a leading global liner shipping company, which modern fleet of 150 ships move some 5 mln containers (TEUs) a year. The Company employs 6,900 people at 300 locations in 114 countries.


Hapaq-Lloyd offers about 80 liner services between all continents, a fleet with a total capacity of around 680,000 TEU as well as a container stock of more than one million TEU including one of the world’s largest and most modern reefer container fleets.


The owners of Hapag-Lloyd are the Albert Ballin consortium (61.6%, consisting of the City of Hamburg, Kühne Holding AG, Signal Iduna, HSH Nordbank, M.M.Warburg Bank and HanseMerkur) and the TUI AG (38.4%).

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