Hamburg Sud 2008 revenue up 24 percent
Hamburg Süd boosted 2008 revenue 24 percent by means of a 25 percent increase in container volume.
The Hamburg-based group’s total 2008 revenue rose to almost $5.8 billion from $4.65 in 2007, thanks in part to the inclusion in the results of the Costa Container Lines, which it acquired in late 2007.
The group’s results also include those of its Brazilian sister company Aliança Navegaçao é Logistica and the dry bulk tramp operations of Rudolf A. Oetker and Furness Withy Chartering.
The group said around 15 percent of the growth in revenue is attributable to organic growth and 9 percent to the acquisition of CCL's business.
The privately owned German company did not report its profits for 2008, but it characterized its results as “satisfactory against the backdrop of the dramatic development of the world economy.”
It said results and cash flow exceeded targets and were roughly on a par with the previous year's level.
The contribution of the dry-bulk tramp operations to results was significantly higher than it was to the total revenue.
The group said that despite the costs of rapidly increasing energy prices, the performance of the liner services was positive over the year.
Container volumes rose to just under 2.7 million TEUs in 2008.
The company completed $685 in capital investment during the year, marginally below 2007's all-time high. It took delivery of two new Monte-class ships, each with a nominal slot capacity of 5,500 TEUs, and three Rio-class ships, each with a 5,900-TEU capacity.
The new ships are deployed in the trade lanes from Asia and Europe to South America.
Cargo growth began to flag significantly in the fourth quarter. In addition, its key trading currency, the U.S. dollar, lost value sharply against the euro up to the middle of the year, to strengthen again by almost 20 per cent towards the end. By contrast, major cost currencies for the group, the Brazilian real and the Australian dollar, fell sharply in value in the course of the year.
The Hamburg-based group’s total 2008 revenue rose to almost $5.8 billion from $4.65 in 2007, thanks in part to the inclusion in the results of the Costa Container Lines, which it acquired in late 2007.
The group’s results also include those of its Brazilian sister company Aliança Navegaçao é Logistica and the dry bulk tramp operations of Rudolf A. Oetker and Furness Withy Chartering.
The group said around 15 percent of the growth in revenue is attributable to organic growth and 9 percent to the acquisition of CCL's business.
The privately owned German company did not report its profits for 2008, but it characterized its results as “satisfactory against the backdrop of the dramatic development of the world economy.”
It said results and cash flow exceeded targets and were roughly on a par with the previous year's level.
The contribution of the dry-bulk tramp operations to results was significantly higher than it was to the total revenue.
The group said that despite the costs of rapidly increasing energy prices, the performance of the liner services was positive over the year.
Container volumes rose to just under 2.7 million TEUs in 2008.
The company completed $685 in capital investment during the year, marginally below 2007's all-time high. It took delivery of two new Monte-class ships, each with a nominal slot capacity of 5,500 TEUs, and three Rio-class ships, each with a 5,900-TEU capacity.
The new ships are deployed in the trade lanes from Asia and Europe to South America.
Cargo growth began to flag significantly in the fourth quarter. In addition, its key trading currency, the U.S. dollar, lost value sharply against the euro up to the middle of the year, to strengthen again by almost 20 per cent towards the end. By contrast, major cost currencies for the group, the Brazilian real and the Australian dollar, fell sharply in value in the course of the year.