The reversion in spot rates is pulling down contract rates, with a significantly delayed effect on ocean carrier earnings.
German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.
“Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets,” Hapag-Lloyd CEO Rolf Habben Jansen said.
The blockchain-enabled global platform TradeLens will go offline by the end of the first quarter of 2023.
Ed Aldridge is retiring from CMA CGM America, and Uffe Ostergaard is leaving Hapag-Lloyd.
Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.
Container shipping fundamentals are not as bad as spot rates imply, says the head of the world’s fifth-largest ocean carrier.
Rolf Habben Jansen, CEO of ocean carrier Hapag-Lloyd, gives his take on the “bullwhip effect,” rates and global trade.
CEO Rolf Habben Jansen said the SM SAAM S.A. acquisition is part of Hapag-Lloyd’s strategy to build “a robust and attractive terminal portfolio.”
Senior executive says “strategic assets along the supply chain are a key part of Hapag-Lloyd’s Strategy 2023.”
