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German container shipping giant Hapag-Lloyd has reported positive preliminary financial results for 2024, with increased transport volumes and stable freight rates driving improved performance.
The company achieved a Group EBITDA of USD 5.0 billion and EBIT of USD 2.8 billion, marking slight improvements over 2023 figures. Revenues climbed 1.3% to USD 20.7 billion, supported by a 5% increase in transport volumes to 12.5 million TEU.
The company attributed its improved performance primarily to higher transport volumes and stable average freight rates, despite challenges from the Red Sea crisis that required rerouting vessels via the Cape of Good Hope
The average freight rate remained stable at 1,492 USD/TEU, nearly matching the previous year’s rate of 1,500 USD/TEU.
In a significant development, Hapag-Lloyd is set to launch the Gemini Cooperation with Maersk on February 1, 2025. This new alliance aims to achieve industry-leading reliability exceeding 90% once fully implemented. The partnership expects all vessels to operate under the new schedule by June 2025.
The company will release its complete 2024 Annual Report, including audited financial figures and outlook for 2025, on March 20, 2025.
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