Hapag-Lloyd makes loss in fourth quarter as weak freight rates hit results
Hapag-Lloyd made an operating loss of US$0.3bn in the fourth quarter of 2024, as the conflict in the Red Sea impacted transport volumes, while freight rates remained weak.
Lower freight rates over the year as a whole resulted in a 47% decline in revenue to US$19.4bn for Hapag-Lloyd in preliminary business figures released for 2023.
The average freight rate for 2023 was down by 48% to US$1,500/teu as global supply chains normalised as the year progressed.
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