Hapag-Lloyd concluded the previous year with its revenues rising to US$36.4 billion, driven by record-high freight rates globally which led to an average freight rate of US$2,863/TEU for the German ocean carrier.

Hapag-Lloyd’s average freight rate gained US$860/TEU compared with 2021, but the Hamburg-based company noted that “already by the end of the year, the freight rate had significantly come back down as congestion eased and demand declined”.

Additionally, Hapag-Lloyd’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to US$20.5 billion in 2022, while in the previous year, the corresponding figure was US$12.8 billion. At the same time, the company’s earnings before interest and taxes (EBIT) increased to US$18.5 billion, from US$11.1 billion in 2021, which can also be attributed primarily to higher freight rates.

On the other hand, Hapag-Lloyd said that disruptions in global supply chains and inflation have led to a significant increase in costs.

Meanwhile, transport volumes for the full-year 2022 were roughly on par with the prior-year level for Hapag-Lloyd, which moved approximately 11.8 million TEUs.

Source : Container News