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  • 2021 August 12 17:38

    HHLA benefits from strong increase in container transport by rail

    The Group operating result (EBIT) increased by 63.2 percent year-on-year to € 90.5 million, according to the Port of Hamburg's release. The positive business development was partially attributable to high storage fees as a result of continued shipping delays at the Port of Hamburg as well as a strong increase in container transport volumes. While container transport recorded strong growth of 16.0 percent, container throughput increased slightly by 0.7 percent compared with the same period last year. The Real Estate subgroup achieved slight growth in revenue and significant increase in earnings. In total, Group revenue increased by 12.8 percent to € 709.2 million.

    The listed Port Logistics subgroup recorded a strong 13.2 percent increase in revenue to € 695.1 million in the first six months (previous year: € 614.2 million). The operating result (EBIT) increased by 70.4 percent to € 83.8 million as compared with the previous year, which was strongly affected by the pandemic (previous year: € 49.1 million). The EBIT margin improved by 4.0 percentage points to 12.0 percent. In the Container segment, the throughput volume at HHLA’s container terminals increased slightly by 0.7 percent to 3,369 thousand standard containers (TEU) (previous year: 3,345 thousand TEU).

    At the three Hamburg container terminals, the throughput volume of 3,073 thousand TEU was up 0.5 percent on the same period last year (previous year: 3,058 thousand TEU). This was due in particular to the moderate increase in cargo volumes for Far East services, which offset pandemic-related volume shortfalls in the previous year and the loss of a Far East service in May 2020. On the other hand, there was a moderate decline in feeder traffic, particularly in the Baltic region.

    The international container terminals in Odessa and Tallinn recorded an increase in throughput volume of 3.4 percent to 296 thousand TEU (previous year: 286 thousand TEU). Only RoRo ships – and no container ships – were processed at the Trieste container terminal during the first six months of 2021. Revenue increased year-on-year in the first half of 2021 by 11.4 percent to € 404.9 million (previous year: € 363.4 million). The slight increase in volume of 0.7 percent was strongly exceeded by the increase in revenue quality. Average revenue per container handled at the quayside rose by 10.6 percent year-on-year. This was due to an advantageous modal split with a high proportion of hinterland volumes and a temporary increase in storage fees as a result of ongoing ship delays. In addition to the pandemic-related delays in ship arrivals, the blocking of the Suez Canal in March also led to longer dwell times that led to an increase in storage revenue. Against this backdrop, the operating result (EBIT) increased by 72.1 percent to € 63.4 million (previous year: € 36.8 million). The EBIT margin increased by 5.5 percentage points to the more normal level of 15.6 percent. In the Intermodal segment, container transport increased strongly by 16.0 percent to 832 thousand TEU (previous year: 718 thousand TEU). It was primarily rail transport that continued to benefit from the recovery in freight volumes beginning in the second half of 2020.

    Rail transport increased by a remarkable 19.3 percent year-on-year to 678 thousand TEU (previous year: 568 thousand TEU). The increase was even more significant in the second quarter compared with the previous year’s pandemic-related weak quarter. The growth in volume during the first half of the year was widely diversified. In a persistently challenging market environment, road transport increased moderately by 3.4 percent to 155 thousand TEU (previous year: 149 thousand TEU). At € 252.9 million, revenue was up by 13.3 percent on the prior-year figure (previous year: € 223.2 million). However, this increase failed to match the development in transport volumes.

    Despite the advantageous increase in the rail share of HHLA’s total intermodal transportation from 79.2 percent to 81.4 percent, average revenue per TEU decreased as a result of changes to the structure of freight flows. In light of the positive trend in volume and revenue, the operating result (EBIT) increased by 33.4 percent to € 46.0 million in the reporting period (previous year: € 34.5 million). Real Estate subgroup: performance January to June 2021 HHLA’s properties in the Speicherstadt historical warehouse district and the Fischmarkt area continued their positive trend with almost full occupancy in the first six months of 2021. Revenue rose slightly by 1.9 percent in the reporting period to € 18.4 million (previous year: € 18.0 million). In addition to the reactivation of revenue-based rent agreements, this was primarily due to the partial waiving of rent deferrals as a consequence of the Covid-19 crisis in the previous year.

    As maintenance volumes remained almost constant, the operating result (EBIT) increased by 7.1 percent to € 6.6 million (previous year: € 6.1 million). Forecast for 2021 partially raised The economic development of HHLA in the first half of 2021 was largely in line with expectations. However, expectations for container transport and revenue for the Port Logistics subgroup and the Group have been raised. For the Port Logistics subgroup, a moderate year-on-year increase in container throughput is expected, as well as a significant increase in container transport (previously: moderate increase). In view of the positive development in the first half of 2021, a significant increase in revenue is now expected for the year as a whole (previously: moderate increase).

    EBIT for the Port Logistics subgroup is still expected to be within the range of € 140 million to € 165 million. A slight year-on-year increase in revenue is still considered possible for the Real Estate subgroup with an operating result (EBIT) on a par with the previous year. At Group level, HHLA now expects a significant increase in revenue (previously: moderate increase), while an operating result (EBIT) in the range of € 153 million to € 178 million is still anticipated.

2022 August 19

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17:18 Diana Shipping announces sale and leaseback of m/v New Orleans and m/v Santa Barbara
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16:27 APM Terminals attracts new services to support booming Latin American trade routes
16:01 SCZONE’s MDC and DP World sign a contract for a logistic zone in Sokhna
15:40 Shipbuilding facilities have to be upgraded for implementation of new projects by 2030 — Denis Manturov
15:22 ABS Rules guide new greener OSV
15:03 Capacity utilisation within Russia’s shipbuilding sector is quite high - Denis Manturov
14:39 CMA CGM Group and WHOI launch acoustic monitoring buoy off the coast of Savannah, to increase whale monitoring efforts
14:19 A.P. Moller - Maersk engages in green bio-methanol partnership with Debo
14:04 New operator of Sakhalin 2 project, Sakhalin Energy LLC, commences operation
13:52 APM Terminals wins auction for UPI-B Cais Sul bid, confirms investments in Suape
13:21 Xeneta real-time container rates update: Week 33
12:19 OOCL announces 2022 interim results
11:48 Port of Baku reports 15.7-pct increase of its cargo throughput in H1'2022
11:24 AKA and e-Link join hands to accelerate net-zero waterway transportation
11:07 Vladimir Putin emphasized the need to minimize delays in civil shipbuilding schedules
10:32 China ports Jan-Jul container volume rises 4.2%,Ningbo Containerized Freight Index drops in August
10:04 Morten Holm Christiansen becomes interim CFO at Topsoe
09:50 Global Ports’ revenue in H1’2022 rose by 18.2% YoY to $271.6 million
09:16 Crude oil futures fall on concerns over economic growth slowdown
08:56 MABUX: Global bunker prices to continue firm upward evolution on Aug 19

2022 August 18

18:41 Yilport Holding appoints co-CEO
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17:42 Ghana Chamber of Shipping becomes Associate ICS member
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17:15 Posh acquires offshore construction vessel from BOA
16:45 Port of Aberdeen and Stillstrom to collaborate on pioneering cleantech
16:42 Daugavgriva shore reinforcement continues by the order of the Freeport of Riga Authority
16:10 Anaergia’s Toender plant to supply CO2 to European Energy A/S for green E-methanol production as fuel for container ships
15:50 Norsepower signs agreement with Dalian Shipbuilding to install Rotor Sails onboard two newbuild CO2 carrier vessels
15:33 Mechel attributes decrease in coal sales in 1H'22 to limited carrying capacity of railroads leading to FE ports
15:14 Fluxys, ArcelorMittal Belgium and North Sea Port start a feasibility study for the Ghent Carbon Hub project
14:41 Europe experiences its worst drought in 500 years - Xclusiv Shipbrokers
14:21 APM Terminals adds new services to support booming Latin American trade routes
14:15 21 ships shipped 563,318 tonnes of food products from Ukrainian ports from 1 August 2022
14:01 Global Maritime Services launches Marine Advisory for the FSRU & LNG sector
13:31 China to lift fishing ban in a phased manner in August and September - Standard Club
13:10 Ardmore Shipping expands presence in Singapore to support energy transition plan
13:04 MABUX: Bunker Weekly Outlook, Week 33, 2022
12:40 The average vessel utilisation on the major head-haul trades continues to be below the threshold - Sea-Intelligence
12:37 Over 3,000 TEU transported between Russia and Europe by FESCO European Railway Network
12:20 ABS contracted to address barriers to adoption of advanced nuclear technology at sea
12:00 Maersk Tankers welcomes Korean SK Energy as a pool partner
11:40 Kalmar terminal tractors chosen by Maldives Ports
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11:03 Royal IHC and Karnafuly Ship Builders sign contracts for design, engineering and equipment of four CSDs
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10:23 Port of Los Angeles container volume up to record 935,345 TEU in July 2022
10:14 Overhaul of Berth No. 29 drainage networks completed in Vostochny port
09:57 Port of Long Beach welcomes Pasha Hawaii LNG-powered ship
09:15 Crude oil futures are slightly up driven by a number of factors
08:46 MABUX: Global bunker indices may turn to upward changes on Aug 18

2022 August 17

18:37 NFE and Apollo funds complete $2 bln LNG maritime joint venture
18:07 Steerprop to supply a complete propulsion package for first-of-its-kind Wind Installation Vessel
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17:23 SFL Corporation agrees to acquire four Suezmax tankers in combination with long term charters