Hapag Lloyd, the fifth biggest container line in the world by market share, saw its revenue rise to USD $6.9 billion in the first half of the year 2019, according to its annual financial results.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) also climbed to $1070.5 million. The carrier’s EBITDA was $478 million in the first half of 2019.
The transport volume also rose by 2% to 5,966 TTEU, and the average freight rate increased by 5% to 1,071 USD/TEU.
Hapag Lloyd has a fleet of 237 container ships with a total transport capacity of 1.7 million TEU and a container capacity of approximately 2.6 million TEU.
“Thanks to higher transport volumes in our core trades, good cost control and slightly better freight rates, we can look back on a good first half-year, “ Rolf Habben Jansen, Chief Executive Officer at Hapag-Lloyd said in a statement.
“This also allowed us to redeem additional debt through the early repayment of a senior note.
“After a solid first half of 2019, our outlook remains unchanged, even if we have to deal with more trade restrictions and see increasing geopolitical risk, which of course could impact growth.
“In the second half of the year, we will continue implementing our Strategy 2023 in our efforts to become the number one for quality.