Hapag-Lloyd enjoys another strong year although challenges await

Hapag-Lloyd’s EBITDA jumped by 59% to US$20.5bn last year, owing to sky high freight rates, although a tougher year is expected in 2023 as the market normalises and inflation stings.

The average freight rate leapt by 43% to US$2,863/teu, helping the carrier’s revenue surge by 38% to US$36.4bn.

This occurred despite transport volumes remaining on a par with the prior-year level, at 11.8m teu, due to the strained supply chains.