Hapag-Lloyd delivers strong 2019 result despite worries for coming months

Hapag-Lloyd delivered a net result of around US$418m last year, boosted by higher volumes and better freight rates, although there are lingering fears about expectations for 2020 owing to the coronavirus (COVID-19).

The average freight rate of 1,072 US$/teu was up by 2.7% over the previous year due to a stronger focus on more profitable trade lanes and active revenue management, noted the German company.

The 1.4% year-on-year increase in transport volumes, to more than 12m teu, also made a positive contribution to revenues, which increased in the 2019 financial year by approximately 3% to US$14.1bn.