Despite Year-end Freight Rate Decline Hapag-Lloyd Reports Strong 2022 Profits
Hapag-Lloyd reported $18 billion in profits in 2022, owing to an increase in the average freight rate. The company’s transport volumes remained consistent with the previous year, despite significant increases in fuel, charter vessels, and container handling costs. Despite a strong start to 2023, Hapag-Lloyd anticipates a significant drop in earnings due to a cooling economy. The company expects earnings to gradually normalize during the current fiscal year, with a focus on cost management and sustainability. Hapag-Lloyd also agreed to a multi-year supply agreement with Shell for LNG for its ultra-large container vessels.
Source of information – Port technology
