Hapag-Lloyd sees profit drop by 67% as demand for container transport falls

Hapag-Lloyd suffered a 67% fall in group profit to US$3.1bn in H1 2023 as the decline in demand for container transport continued into this year, with volumes down on Far East and European trade routes to North America.

In an encouraging sign, disruptions to the global supply chain have lessened, as energy and raw materials prices initially affected by the war in Ukraine are on a downward trend, according to the carrier.

This improvement saw the German company confirm its full year forecast from March that EBITDA would be in the range of US$4.3bn-6.5bn and EBIT between US$2.1bn-4.3bn, predicting a stronger performance for the remainder of the year.