Latest news from Heavy Lift & Project Forwarding International Magazine

Hapag-Lloyd ups profit

November 14 - Hapag-Lloyd has closed the third quarter of 2016 with a net profit of EUR8.2 million (USD8.7 million), compared with EUR3.2 million (USD3.4 million) in the same period of 2015.

The Hamburg headquartered container shipping line posted an operating result (EBIT) of EUR65.6 million (USD70.2 million) in the reporting period, compared with EUR80.9 million (USD86.6 million) in the same period of last year.

"The market has been very difficult so far this year, but in that environment Hapag-Lloyd has performed relatively well, which underlines our competitiveness, and we are pleased to report a net profit in the third quarter" said Rolf Habben Jansen, ceo of Hapag-Lloyd.

"The overall results so far this year remain unsatisfactory, but the net profit in Q3 indicates that we are on the right track and that our efforts to further reduce costs and to leverage economies of scale are paying off.

"Our main focus for the upcoming quarters will be to further optimize our cost position, ensure a smooth implementation of THE Alliance and to complete the transaction with UASC, to further solidify our position in this consolidating industry."

In the first nine months of 2016, Hapag-Lloyd transported a total of 5.65 million teu, around 1.3 percent more than in the first nine months of 2015. The average freight rate fell sharply, decreasing by 17.7 percent year-on-year during the first nine months.

Hapag-Lloyd attributed the freight rate decline partly to a fall in bunker prices, but also to "prevailing overcapacity" in the main trades combined with modest demand growth.

 


www.hapag-lloyd.com

Heavy Lift | News

TRACE launches e-Gov portal thumbnail image

TRACE launches e-Gov portal

February 15 - Anti-bribery trade association TRACE International has launched its e-Gov Portal.
Views: 210
Bolloré and Cosco strengthen ties thumbnail image

Bolloré and Cosco strengthen ties

February 15 - Bolloré Transport & Logistics and Cosco Shipping Lines have signed a memorandum of understanding (MoU) to strengthen their commercial relationships, while exploring new opportunities for cooperation in transport, logistics and port infrastructure.
Views: 350
DSV ups Panalpina bid as Agility enters the fray thumbnail image

DSV ups Panalpina bid as Agility enters the fray

February 15 - Panalpina’s board of directors confirmed that it has received a revised, non-binding proposal from DSV to acquire the company at a price of CHF180 (USD178.9) per share, all in cash.
Views: 362

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.