Hamburg’s HHLA reports 2.6pc first quarter gain to 1.8 million TEU
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Hamburg's HHLA reports 2.6pc first quarter gain to 1.8 million TEU

THE Port of Hamburg's biggest by far terminal operator, Hamburger Hafen und Logistik (HHLA) declared that first quarter container volumes increased 2

18 May 2018 - 19:00 - Update: 19 May 2018 - 09:39

THE Port of Hamburg's biggest by far terminal operator, Hamburger Hafen und Logistik (HHLA) declared that first quarter container volumes increased 2.6 per cent year on year to 1.8 million TEU, reports London's Port Technology International.

This development was driven by Asian traffic, which increased 8.9 per cent. A lower share of feeder traffic and higher storage fees meant that HHLA's revenue increased moderately by 4.9 per cent to US$226.8 million.

Its segment operating result (EBIT) also rose by 2.6 per cent to $38.6 million, with its EBIT margin amounting to 17.1 per cent.

HHLA's container transport declined by 5.3 per cent due to the realignment of Polzug's intermodal transportation activities, but has not affected HHLA's expectations for its Port Logistics subgroup EBIT, which has increased by 3.3 per cent.

'Following a good start in the first quarter, we are confident that we will achieve our targets for the year,' said HHLA chairwoman Angela Titzrath.

'Furthermore, we have set up a structured process that will allow us to continually select and evaluate potential value-adding acquisition targets.

One of the first results of this process is the acquisition of the largest terminal operator in Estonia, Transiidikeskuse AS in the port of Muuga,' she said.
 

Source: WORLD SHIPPING
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