Hapag-Lloyd CEO expects shipping volume strength to continue By Reuters
According to the CEO of Hapag Lloyd in Frankfurt as reported by Reuters today (Thursday) he anticipates an increase in container shipping activity due to high global demand, for freight transportation services. Reflecting trade levels and serving as an indicator of the world economys well being.
In the nine months of the year from January to September 2022 and 2021 saw an increase of 5% with a total of 292 ships moving around 20 foot equivalent (TEUs). The German company reported a rise, in the volume of containers moved to 8 million tons from last years 8 million tons.
"I didn't notice any changes in the fourth quarter " shared Hapag Lloyd CEO Habben Jansen in a conversation following the presentation of the companys earnings for the first nine months as reported by Reuters referring to the global ranking of the shipping group as the fifth largest, in terms of container shipping volume."
Container traffic worldwide has increased by 6 making it the highest growth rate since two years ago according to a presentation by Hapag Lloyd, during an analyst call discussing their performance.
However on the side of things the rise in expenses due commercial shipping opting for routes around Africa in order avoid disturbances at the Suez Canal caused by attacks from Houthiterrorists impacted Hapag Lloyds bottom line with a significant 47 percent drop in net profits during the period despite the increase, in freight rates.
On average for the nine months period Hapag Lloyd recorded freight rates of $1467, per TEI unit which marked a 9 percent decrease compared to the year.
"At the moment " Habben Jansen remarked regarding the Suez crisis " there seems no resolution, in sight."
The outlook for Hapag Lloyds profits in 2023 remains promising following an increase, in projections last month.
Habben Jansen remarked on the victory of Donald Trump, in the U.S election by mentioning that while positive macroeconomic influences could boost the economy; they could also be offset by the negative impacts of tariffs.
During his campaign President elect Trump emphasized the significance of implementing import tariffs as a crucial strategy to secure another term, in the White House.
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