Soaring freight rates help Hapag-Lloyd’s profitability to quadruple

Booming demand for exports from Asia along with major disruptions to supply chains pushed freight rates through the roof and helped Hapag-Lloyd’s profitability to quadruple last year.

The carrier achieved an EBITDA of US$12.8bn, representing a huge jump from the US$3.1bn it recorded in 2020, benefitting from favourable market dynamics.

The German company transported 11.9m teu last year, equating to almost the same amount as in 2020, which with the lack of growth attributed to strained supply chains.