Hapag-Lloyd’s 2018 net profit has increased 39.3 per cent year-on-year to € 46 million ($ 51.9 million), drawn on revenues of 11.5 billion, up 15 per cent, highlighted a release.
“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 benefited 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 Mr Rolf Habben-Jansen, Chief Executive Officer of Hapag-Lloyd.
The management anticipates 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. It is also expected that the average bunker consumption price in 2019 will be moderately higher compared to the previous year, the release added.
