Annual revenues increase by 15%
Announcing its 2018 figures, Hapag-Lloyd said that it achieved a higher operating result in the 2018 financial year than in the prior year.
Revenues increased in the 2018 financial year by 15 per cent, to EUR 11.5 billion in particular, due to the merger with UASC and the associated 21 per cent increase in transport volume, to 11.9 million TEU.
Transport expenses were primarily driven by strong volume growth and a significantly higher average bunker consumption price of $421/tonne a y-o-y increase of 18 per cent.
At $1,044/TEU, the average freight rate for the year as a whole was below the prior-year level of $1,060/TEU.
On a pro forma basis and when compared to the combined business of Hapag-Lloyd and UASC for the full year 2017, the transport volume is up 6 per cent and the average freight rate is up 2 per cent.