• 2019 March 22 15:30

    Hapag-Lloyd announces 2018 results

    Hapag-Lloyd has disclosed its 2018 annual report today. Based on the audited figures, the group net result increased to EUR 46 million for the year 2018 and was EUR 13 million higher compared to the previous year (2017: EUR 33 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 1,138 million (2017: EUR 1,055 million). Earnings before interest and taxes (EBIT) went up to EUR 443 million (2017: EUR 411 million). Both, EBITDA and EBIT, are at the upper end of the ranges forecast for the 2018 full financial year (EBITDA: EUR 900 to 1,150 million; EBIT: EUR 200 to 450 million)

    “The market environment in 2018 was certainly not easy: In the first half of the year, freight rates were below our expectations and bunker prices and costs increased during the year. In the second half of the year, however, these effects were partially offset as we benefitted from higher global transport volumes, better freight rates and improvements on the cost side. All in all, we are satisfied with the financial results for 2018”, said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd.

    Revenues increased by 15 % in 2018 to EUR 11.5 billion (2017: EUR 10.0 billion), in particular due to the merger with UASC and the associated 21 % increase in transport volume, to 11.9 million TEU (2017: 9.8 million TEU). Transport expenses were primarily driven by strong volume growth and a significantly higher average bunker consumption price of 421 USD/tonne (2017: 318 USD/tonne), increasing by 18 %, to EUR 9.4 billion (2017: EUR 8.0 billion), proportionally less than transport volume. At 1,044 USD/TEU, the average freight rate for the year as a whole was below the prior-year level (2017: 1,060 USD/TEU), with a better fourth quarter at 1,079 USD/TEU (Q4/17: 1,038 USD/TEU). On a pro forma basis and when compared to the combined business of Hapag-Lloyd and UASC for the full year 2017, the transport volume is up 6 % and the average freight rate is up 2 %.

    As of 31 December 2018, Hapag-Lloyd had EUR 6.3 billion (2017: EUR 6.1 billion) in equity and a liquidity reserve (cash, cash equivalents and unused credit facilities) of EUR 1.1 billion (2017: EUR 1.1 billion). Net debt amounted to EUR 5.4 billion (2017: EUR 5.7 billion) at the balance sheet reporting date.

    Based on the positive business development, the executive board and the supervisory board of Hapag-Lloyd AG have decided to propose to the Annual General Meeting the payment of a dividend of around EUR 26 million, equivalent to 15 cents per share, for the business year 2018.

    In its most recent economic outlook for the year 2019, the IMF expects a global economic growth of 3.5 % and global trade volume to increase by 4.0 %. Hapag-Lloyd is anticipating a rise in the transport volume in 2019 in line with the general growth of the market. Additionally assuming a lower increase in global transport capacity compared to 2018, Hapag-Lloyd’s average freight rate in 2019 is likely to increase slightly compared with the previous year. Hapag-Lloyd is also expecting the average bunker consumption price in 2019 to be moderately higher compared to the previous year.

    Provided that Hapag-Lloyd achieves the expected freight rate, the anticipated improvement in revenue quality combined with the cost savings as part of Strategy 2023, and the expected growth in volumes, it is forecasting an EBITDA in the range of EUR 1.6 to 2.0 billion and an EBIT in the range of EUR 0.5 to 0.9 billion. Accounted for here is the currently expected impact on EBITDA in the range of EUR 370 to 470 million as well as EBIT in the range of EUR 10 to 50 million related to the implementation of the reporting standard IFRS 16.




2019 June 24

18:05 Training Montenegro to combat oil spills
17:50 Four cruise ships visit the Port of Riga at the same time
17:27 Finnish Government proposes supplementary appropriation of EUR 40 million for basic infrastructure management
17:05 Austal delivers third guardian class patrol boat to the Australian Department of Defence
16:47 Incat Crowther announces contract to design a 65m catamaran passenger ferry
16:46 Construction and operation of dual-fuel ships has low economic efficiency – USC President
16:45 Maersk Drilling completes sale of jack-up Mærsk Giant
16:24 USC set to build floating electricity-generating facilities running on LNG supplied by bunkering ships
16:03 Van Oord and Mammoet enter into cooperation with scale-up Verton
15:45 United Shipbuilding Corporation to launch the first LNG-powered ferry for Ust-Luga – Baltijsk line in late July
15:30 United Shipbuilding Corporation establishes USC-Propulsion and USC-Interior subdivisions
15:03 MOL signs deal on a long-term charter contract to utilize "MOL FSRU Challenger" for Hong Kong Offshore LNG Terminal Project
14:42 New USC Vice-President, Civil Shipbuilding, to get into office on 10 July 2019
14:21 USC expects its Astrakhan cluster to build 12 river-sea class ships per year
14:03 Yang Ming announces new China-Thailand direct service
13:37 Port of Rotterdam Authority to collaborate with four new companies
13:25 Igor Vasilyev appointed as Acting General Director of FTI Rostransmodernizatsiya
13:02 ARIES gained ABS Certification: Middle East 1 st Remote Inspection Techniques specialist
12:20 BC Ferries releases year-end results
12:10 Keel laid for the first of Damen’s revolutionary new FCS 7011 Crew Change
11:56 Average wholesale prices for М-100 HFO down to RUB 15,377 in RF spot market
11:29 FESCO to launch new container train to China via Far East overland route
10:58 Southern Center of Shipbuilding and Ship Repair acquired property of Krasniye Barrikady plant
10:35 Satti floating drilling unit owned by Kazmortransflot delivered to Azerbaijan
10:13 Throughput of Chinese ports grew by 4.1% to 5.5 billion tonnes in Jan-May’2019
09:53 MABUX: Bunker Market this morning June, 24
09:52 Brent Crude futures price is up 0.4% to $64.71, Light Sweet Crude – up 0.68% to $57.82
09:34 Container throughput of port Hong Kong (China) down 7.7% to 7.55 million TEUs in Jan-May’2019
09:17 Baltic Dry Index is up to 1,239 points

2019 June 23

16:29 INPEX submits revised plan of development for Abadi LNG Project
15:13 Oceanwide Expeditions: Hondius sister ship m/v Janssonius ordered for 2021
14:19 CMA CGM announces FAK rates on Asia - Pakistan, India and Sri Lanka service
13:46 Coast Guard rescues five from capsized boat in Chesapeake Bay
12:43 Danske Commodities signs 20-year PPA with Hywind Scotland wind farm
10:29 TMC sets up office to support Chinese yards

2019 June 22

15:24 AAPA selects Christopher Connor as its new CEO
12:37 TMC contracted by VARD to supply marine compressors for Viking Cruises' vessels
11:23 ABS to class first ‘tri-fueled’ vessel for Harvey Gulf
10:13 Port of Oakland steps up as ships carry bigger loads than ever
10:05 Coast Guard responds to barge aground in Naknek, Alaska

2019 June 21

18:07 Austal gets Navy's modification to littoral combat ship contract
18:04 MODEC awarded Letter of Intent by Petrobras related to Búzios 5 FPSO
17:58 Frontline announces acquisition of VLCC resale and two LR2 newbuildings
17:56 BC Ferries adds extra sailings for the summer
17:55 Maritime Anti-Corruption Network to develop Global Port Integrity Index and Scale Up Collective Action in West Africa
17:37 Siemens Gamesa receives first offshore wind preferred supplier nomination in Japan: up to 455 MW for Obayashi Corporation
17:12 Krasnoye Sormovo launches final RSD59 ship in a series four units ordered by STLC
16:38 Ships of RF Navy’s Pacific Fleet involved in exercises in the Sea of Japan
16:26 Government of Canada enters into negotiations with Chantier Davie for construction of two ferries
16:14 Standic expands with state-of-the-art chemical storage terminal in Port of Antwerp
15:50 Klaipedos Nafta announced call for Chief Executive Officer
14:27 Safety management training takes centre stage
14:26 USCG says Polar Security Cutter to be homeported at Seattle
14:03 Maersk to offer customers carbon-neutral transport
13:35 LUKOIL’s dividends payable for 2018 will be RUB 250 per ordinary share
13:15 Anthony Veder expands fleet with taking in five gas carriers from GATX
13:12 HELCOM’s Executive Secretary to step down in August 2019
12:48 Novotrans acquired stevedoring company operating Ro-Ro ferry facility at the port of Ust-Luga
12:30 Samskip fine tunes multimodal network for post-Brexit hard choices
12:11 Matson christens first Kanaloa class Con-Ro vessel 'Lurline'