• 2020 November 12 15:14

    HHLA posts results for January - September 2020

    Despite the lasting impact of the coronavirus pandemic, Hamburger Hafen und Logistik AG (HHLA) recorded a positive operating result in the first nine months of 2020. However, due to a strong decline in business activities in the second quarter, this result is sharply below (- 38.9 %) the prior-year figure. Revenue also declined (- 8.1 %). Container throughput and container transport recorded strong and moderate declines, respectively. Although there were minor indications of a recovery in business in the third quarter fostered by, among other things, the renewed growth of the Chinese economy, HHLA will not achieve the strong result of the previous year in 2020.
    The listed Port Logistics subgroup recorded an 8.1 % decline in revenue to € 937.4 million in the first nine months. The operating result (EBIT) decreased significantly by 40.7 % to € 96.6 million. The EBIT margin decreased by 5.6 percentage points to 10.3 %.
    In the Container segment, the throughput volume decreased by 11.2 % in the first nine months of 2020 to 5,086 thousand standard containers (TEU). This was mainly due to the loss of a Far East service in Hamburg and blank sailings as a result of the coronavirus pandemic. Feeder traffic with the Baltic region also decreased and could not be offset by growth in the German and British shipping regions. While throughput volume at the three Hamburg container terminals was down by 11.8 % on the same period last year, the container terminals in Odessa and Tallinn recorded a moderate decline of 5.0 % in throughput volume in the same period.
    Revenue decreased year-on-year by 9.4 % to € 548.4 million in the first three quarters of 2020. This was primarily due to the decreases in volume caused by the coronavirus pandemic. The operating result (EBIT) decreased by € 43.9 million or 39.0 % year-on-year to € 68.7 million due to falling volumes. The EBIT margin decreased by 6.1 percentage points to 12.5 %.
    In the first nine months of 2020, HHLA’s transport companies recorded a moderate volume decline in the Intermodal segment. Container transport decreased by 4.6 % to 1,129 thousand standard containers (TEU). The decrease in road transport was much more marked than that of rail transport. The latter decreased year-on-year by 3.7 % to 895 thousand TEU. The significant – and for certain routes dramatic – fall in maritime traffic from the North German seaports was partially offset by strong growth in continental traffic. A strong recovery in transport volumes in the third quarter helped minimise the impact of decreases across all routes in the first half of the year. In the third quarter, road transport also showed signs of a strong recovery as compared to the previous quarter. However, due to further weak growth in the Hamburg region and a persistently challenging market environment, road transport volumes decreased by 8.0 % year-on-year to 234 thousand TEU.
    With a significant 5.2 % year-on-year decline to € 348.7 million, revenue performed somewhat weaker than transport volume. Despite a slight increase in the rail share of HHLA’s total intermodal transportation from 78.5 % to 79.3 %, average revenue per TEU decreased as a result of the particularly strong reduction in freight flows with longer transport distances.
    The operating result (EBIT) fell by 18.0 % to € 62.4 million during the reporting period. In addition to falling volumes and revenue, this marked decrease was mainly due to increased fluctuations in import and export cargo with a resulting fall in capacity utilisation of rail systems.
    As a result of the Group’s performance in the first nine months of 2020 and the continued uncertainties on possible restrictions to contain the coronavirus pandemic which have an impact on economic activity, the HHLA Executive Board maintains its assessment that it is not possible to make a reliable forecast under the current conditions. It can be assumed, however, that revenue and the operating result (EBIT) for the Port Logistics subgroup will be much lower than in the previous year. This is mainly the result of the sharp decline in container throughput and significant loss in container transport.
    HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area remained largely unaffected by negative market trends caused by insecurities regarding the further development of the coronavirus pandemic, with almost full occupancy in the third quarter. Despite the high occupancy rate, however, revenue of € 28.2 million at 30 September 2020 was significantly below the prior-year level (previous year: € 29.9 million). The decline was primarily the result of a revenue correction for expected rent losses as a consequence of the coronavirus pandemic.
    While maintenance volumes remained constant, the significant year-on-year decline in the cumulative operating result (EBIT) of 17.3 % to € 10.3 million was therefore largely due to these expected rent losses.
    The operating result (EBIT) in the Real Estate subgroup for 2020 is expected to be significantly below the prior-year figure.

2021 January 15

18:15 Organic fertilizers and biogas from biowaste in the Helsinki region – commercial use of the Lohja biogas plant started up
18:04 New Speakers and Sponsors announced for Unmanned Maritime Systems Technology virtual conference
17:51 High reliability of Limburg Express requires expansion
17:41 Gulf of Guinea records highest ever number of crew kidnapped in 2020, according to IMB’s annual piracy report
17:38 Diana Shipping announces increase in tender offer price for its shares of common stock and extension of expiration date
17:29 OCEAN Alliance Day 5 Product signing ceremony
17:08 i4 Insight partner with FNT to integrate Condition Monitoring service
17:06 Throughput of Rostov-on-Don port in 2020 grew by 13% Y-o-Y
17:03 The effects of the coronavirus epidemic prevention regulations on Finnlines passenger traffic
16:42 Launching of Viking Glory slated for Jan 26
16:28 Carisbrooke Shipping and SMT Shipping partner with Nautilus Labs for collaboration to optimize fleet performance
16:01 Tallink Grupp appoints new Managing Director for Swedish subsidiary Tallink Silja AB
15:17 USCG cutter Joseph Gerczak to increase maritime presence in Pacific
14:47 First steel cut for new Carnival Celebration, next Excel-class ship set to debut from PortMiami in 2022
14:22 Zvezda Shipyard starts cutting steel for third MR product carrier
13:57 Bunkering of a new-generation LNG-powered container ships begins in Rotterdam
13:26 Holland America Line opens bookings for Europe 2022 cruises - four ships span the region on itineraries ranging from 7 to 21 days
13:08 SCF takes delivery of new LNG carrier to expand long-standing partnership with Shell
12:49 Anatoly Meshcheryakov appointed as Director of Transport Department
12:34 BW Offshore: Incident on FPSO Espoir Ivoirien
11:21 Sakura Kuma named as new managing director of APM Terminals Japan
10:56 Turnover of DeloPorts terminals grew by 36% in 2020
10:32 MABUX: Bunker market this morning, Jan 15, 2021
10:04 Jinling hands over Grimaldi Group’s second GG5G Class hybrid ro-ro
09:57 Biggest Dutch project for CO2 reduction, Porthos, is on schedule
09:55 Bunker prices show no significant changes at the Port of Saint-Petersburg, Russia (graph)
09:34 Crude oil prices continue decreasing in expectation of COVID-19 related lockdowns to affect the demand
09:19 Baltic Dry Index as of January 14

2021 January 14

18:25 Throughput of Russian seaports in 2020 fell by 2.3% Y-o-Y
18:03 Torvald Klaveness First Steamship joins Baumarine by MaruKlav
17:48 Exports of Transneft oil via seaports fell by 21.3%
17:31 Wärtsilä SmartMove Suite sets sail with the American Steamship Company
16:47 Marine Administration of the Russian Federation extends validity of seafarers’ documents
16:23 CMA CGM announces Empty Equipment Imbalance Surcharge for cargo from North Europe, United Kingdom, Baltic States, Scandinavia & Russia to Nigeria
16:18 Bunker Outlook, Jan 14, 2020
16:03 Contecon Manzanillo caps off 2020 with 1M TEU milestone
15:55 Enhanced requirements for shore-based personnel boarding vessels in the Port of Singapore
15:41 Dredging fleet of Rosmorport’s Astrakhan branch expanded with dredging convoy
15:23 Equinor selected for largest-ever US offshore wind award
15:03 Konecranes makes first UK installation of S-series crane
14:44 Bunker prices increased in the Far East ports of Russia (graph)
14:22 Abu Dhabi Ports to provide container transportation services between Musaffah-based facility and Khalifa Port
14:03 North Sea Port feels reports 63.5 million tons of cargo transhipment from maritime shipping in 2020
13:40 Port of Riga saw cargo structure changes in 2020
13:23 Kalmar’s straddle carrier technology to enhance operational capabilities at Iles de la Réunion
13:21 Port Houston annual container volumes near record in December 2020
12:48 Throughput of Sovetskaya Gavan port surged by 83% in 2020
12:04 Portuguese and Greek Prime Ministers visit European Maritime Safety Agency
11:59 Port of Oakland loaded imports up 11 percent in Dec. 2020
10:47 Year 2020 ended with 6.6 million tons of various cargo handled by Port of Liepaya
10:20 MABUX: Bunker market this morning, Jan 14, 2021
10:19 PGNiG received its fourth LNG delivery in Klaipėda
10:12 Neptune Energy awards $6.5M contracts for Cygnus gas facility
09:53 Hydrogen Council reaches 100+ members
09:50 UAntwerp and Port of Antwerp testing innovative technology for autonomous shipping
09:28 Crude oil prices decrease in response to dollar rise
09:13 Baltic Dry Index as of January 13

2021 January 13

18:01 Holland Shipyards Group awarded with contract to build three additional vessels for Schlepp- und Fährgesellschaft Kiel
17:49 Port of Antwerp appoints International Representative for Russia
17:15 Jinling delivers last DFDS mega ro-ro