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Hapag-Lloyd expects 2021 profit up to $11.2bn on continued supply chain disruption

Photo: Marcus Hand hapagnameplate.jpg
With operational disruptions to the supply chain expected to continue in the second half of 2021 container line Hapag- Lloyd is forecasting a profit of $9.2bn - $11.2bn for the year as whole.

Releasing preliminary earnings figures Hapag-Lloyd said it expected an EBITDA of around $4.2bn for the first half of 2021 compared to $1.3bn EBITDA in the same period in 2020.

For shippers hoping for some normalisation of supply chains and record high container freight rates in the second half of 2021 there was little good news in the statement by the Hamburg-headquartered container line.

With global demand for container shipping remaining high it said it expected operational disruptions along the entire supply chain continue to cause significant delays exacerbating the supply crunch. As a result rather than a previously expected gradual normalisation of earnings H2 Hapag-Lloyd now expects even higher profits in the second half of the year.

The line is forecasting an EBITDA for 2021 as whole of $9.2bn - $11.2bn.

“We also benefitted from better freight rates in the second quarter and are looking at a very strong first half-year overall. At the same time, since we firmly expect this momentum to carry over into the second half of the year, we have raised our earnings forecast for 2021 as a whole,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Last week Hapag-Lloyd alliance partner Ocean Network Express said it expected to report a $6bn profit for the first half of the financial year ended 30 September 2021 having reported a $2.56bn profit for Q1.

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