GERMAN carrier Hapag-Lloyd reported an eight per cent increase in earnings at US$2.8 billion for 2024 on five per cent increase in volume to 12.5 million TEU despite the rerouting of ships via the Cape of Good Hope due to the security situation in the Red Sea and the associated longer voyage times.
Freight rate remained stable during the year at $1,492/TEU, according to media reports.
Revenues rose to $20.7 billion, up six per cent, particularly owing to stronger demand for container transport, an official release said.
'Hapag-Lloyd will publish its 2024 annual report with the audited financial figures and an outlook for the current financial year on March 20, 2025,' the statement read.
For the fourth quarter of 2024, revenue increased 32 per cent to $5.4 billion on marginal increase in transport volume of 3.1 million TEU compared to three million TEU in Q4 2023.
Average freight rate increased 31 per cent to $1,564/TEU and earnings came in at $800 million as against a loss of $300 million in Q4 2023.
Hapag-Lloyd and Danish carrier Maersk launched their new service - Gemini Cooperation - from February 1, 2025.
'Gemini Cooperation will cover seven trades and offer 57 services including mainliner and dedicated shuttle services, complemented by feeder services. The fleet of our new partnership will consist of around 340 modern and efficient vessels, many ready to adopt cleaner fuels, with a total standing capacity of 3.7 million.'
A strong focus within Gemini Cooperation will be on schedule reliability - to increase on-time delivery on box level from 50 per cent currently to more than 80 per cent across the Hapag-Lloyd network.
'As the situation in the Red Sea remains highly dynamic, we plan to continue to sail around the Cape of Good Hope as the safety and well-being of our seafarers, our vessels and the cargo of our customers are key. We will return to the Red Sea when it is safe to do so.'
SeaNews Turkey
Freight rate remained stable during the year at $1,492/TEU, according to media reports.
Revenues rose to $20.7 billion, up six per cent, particularly owing to stronger demand for container transport, an official release said.
'Hapag-Lloyd will publish its 2024 annual report with the audited financial figures and an outlook for the current financial year on March 20, 2025,' the statement read.
For the fourth quarter of 2024, revenue increased 32 per cent to $5.4 billion on marginal increase in transport volume of 3.1 million TEU compared to three million TEU in Q4 2023.
Average freight rate increased 31 per cent to $1,564/TEU and earnings came in at $800 million as against a loss of $300 million in Q4 2023.
Hapag-Lloyd and Danish carrier Maersk launched their new service - Gemini Cooperation - from February 1, 2025.
'Gemini Cooperation will cover seven trades and offer 57 services including mainliner and dedicated shuttle services, complemented by feeder services. The fleet of our new partnership will consist of around 340 modern and efficient vessels, many ready to adopt cleaner fuels, with a total standing capacity of 3.7 million.'
A strong focus within Gemini Cooperation will be on schedule reliability - to increase on-time delivery on box level from 50 per cent currently to more than 80 per cent across the Hapag-Lloyd network.
'As the situation in the Red Sea remains highly dynamic, we plan to continue to sail around the Cape of Good Hope as the safety and well-being of our seafarers, our vessels and the cargo of our customers are key. We will return to the Red Sea when it is safe to do so.'
SeaNews Turkey