Feature, Freight News, Logistics, Sea

Hapag-Lloyd Maintains Cautious Outlook

[ May 28, 2026   //   Gary Burrows ]

Hapag-Lloyd reported a first-quarter loss as weaker freight rates, severe weather disruptions and the conflict in the Middle East weighed heavily on earnings, while the German carrier maintained a cautious outlook for the remainder of 2026.

The Hamburg-based carrier posted first-quarter revenue of US$4.9 billion, down from US$5.3 billion a year earlier, while EBITDA fell to US$494 million from US$1.1 billion in the prior-year period. The company reported an EBIT loss of US$157 million and a net loss of US$256 million, compared with a profit of US$469 million in the first quarter of 2025.

Hapag-Lloyd said lower freight rates and operational disruptions tied to severe weather conditions and the blockage of the Strait of Hormuz significantly affected results during the quarter. Average freight rate declined to US$1,330 per TEU from US$1,471 per TEU a year earlier, while transport volume remained nearly flat at 3.2 million TEUs.

“The first quarter of 2026 was unsatisfactory for us,” CEO Rolf Habben Jansen said, adding that weather-related supply-chain disruptions and freight-rate pressure drove the weaker performance.

The carrier said disruptions across Europe and North America affected terminal operations and supply chains, while Middle East tensions disrupted cargo flows through the Gulf region.

Despite the weaker financial performance, Hapag-Lloyd said it remains focused on its Strategy 2030 growth plan, continued cost controls and the planned completion of its merger agreement with ZIM.

The company’s Terminal & Infrastructure division delivered stronger results during the quarter, with revenue rising to US$168 million from US$109 million, helped by the consolidation of India-based J M Baxi’s container business and volume growth in Latin America and India.

Hapag-Lloyd maintained its full-year guidance, forecasting 2026 EBITDA between US$1.1 billion and US$3.1 billion and EBIT between a US$1.5 billion loss and a US$500 million profit, warning that freight-rate volatility and the Middle East conflict continue to create significant uncertainty.

Separately, shareholders at the company’s annual general meeting approved all proposed resolutions, including a dividend payment of €3 per share.

Tags: Hapag-Lloyd