Hapag-Lloyd saw profits evaporate in the first quarter as weather and the Mideast conflict disrupted operations.
The world’s fifth-largest ocean container line said liner revenue fell 8% to $4.8 billion year-over year on volume that was narrowly off 1% at 3.2 million twenty foot equivalent units (TEUs).
That compared to global volume that increased 4.4%, according to Container Trade Statistics.
Liner earnings before interest, taxes and depreciation (EBIT) dropped to a loss of $174 million.
The average freight rate of $1,330 per TEU was weaker by 9.5% from the year-ago quarter. That was in line with CTS data showing a 9.7% decline.
“The first quarter of 2026 was unsatisfactory for us, with weather-related supply chain disruptions [in the Atlantic] and pressure on freight rates leading to significantly lower results,” said Rolf Habben Jansen, chief executive of Hapag-Lloyd AG, in an earnings release.
Hapag-Lloyd maintained full-year 2026 guidance of earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.1 billion–$3.1 billion; and EBIT of a loss of $1.5 billion to a profit of $500 million.
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