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Hapag-Lloyd Sees 1H Growth in Volatile Market

[ August 15, 2025   //   ]

At its midway point in is financial year, shipping line Hapag-Lloyd saw significantly increased transport in a volatile shipping market characterized by chaotic implementation of tariffs.

Germany-based Hapag-Lloyd concluded its first half with group EBITDA of US$1.9 billion, up 11.3 percent from the first half of 2024.

The frequent changes in trade policies of U.S. and its trade partners – or adversaries – led to volatile demand and freight rates. In addition, congested seaports and the tense security situation in the Red Sea impacted operations.

In the liner shipping segment, first half revenue increased 11.3 percent to US$10.4 billion, mainly due to an 11 percent increase in transport volumes. The 6.7 million twenty-foot equivalent units or TEUs, primarily driven by growth in the east-west trades.

At US$1,400 per TEU, the average freight rate was up a tick from prior-year results.

EBIT fell 24.5 percent to US$1.8 billion, in part due to start-up costs for the new Gemini network with A.P. Moller – Maersk but also related to congestion and general inflation.

The terminal and infrastructure segment achieved an increase in sales and earnings in the first half of 2025. The EBITDA rose to USD 79 million (EUR 72 million) and the EBIT to USD 37 million (EUR 34 million). In addition, the terminal portfolio was further expanded in March 2025 with the acquisition of a majority stake in CNMP LH in Le Havre, France.

“In a volatile market, we significantly increased our transport volume and ended the first half of the year on a solid note overall,” said Rolf Happen Jansen, CEO of Hapag-Lloyd AG. “We have gotten our Gemini network off to a very successful start and are setting new standards in our industry in terms of schedule reliability.

“In addition, we have made good progress in the further expansion of Hanseatic Global Terminals. In the second half of the year, we will keep our focus on quality and growth as well as operational and commercial performance while continuing to optimize our cost structure. At the same time, we will do everything in our power to help our customers navigate this volatile market environment, and we hope that more new trade agreements will make their supply chains more predictable,” Jansen said.

In view of Hapag-Lloyd’s first-half performance, Hapag-Lloyd’s executive board has refined its earnings forecast for the 2025 financial year. Group EBITDA is now expected to be in the range of US$2.8 billion to US$3.8 billion and group EBIT to be in the range of US$250 million to US1.25 billion. Given the wide range of geopolitical challenges and volatile freight rates, the forecast remains subject to considerable uncertainty, the company said.

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