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Hapag-Lloyd: Container delays may be resolved in Q2/Q3

Container shipping company Hapag Lloyd said that the surge in consumer demand for sports equipment and other commodities blocked by the epidemic may stabilize in the second or early third quarter, helping to ease the disruption of shipping and logistics.
"The situation is expected to return to normal in the second or early third quarter." Hapag Lloyd CEO Rolf Habben Jansen said at a recent press conference.
Around the world, due to labor shortages and traffic congestion during the new crown pneumonia pandemic, waiting times at ports have increased, resulting in delays in the return of empty containers. Due to the tightening of equipment supply and the inefficient isolation of dockers, container shipping companies re-arranged freight routes and reduced call ports, which pushed up freight rates and boosted the industry’s profits, which resulted in Hapag-Lloyd’s first quarter earnings. Substantial Increase.
The company just predicted that 2021 profits will "significantly exceed" the previous year, when EBITDA was estimated at 2.7 billion euros ($3.3 billion), which was three-thirds higher than 2019 levels. More than one.

Habben Jansen said that the company will use this profit to repay debts and make moderate investments, but overall, the company will continue to follow a "conservative" financial route and has launched a cost-saving plan in recent years. The company said that rising transportation fuel operating costs and high charter rates will continue to pose challenges.
Hapag-Lloyd said that it has realized that customers are concerned about the interruption of transportation and high spot freight rates, and will work hard to alleviate these concerns by increasing the transparency of lower contract freight rates. The Spring Festival celebrations between February 11 and February 26 should help ease the "crazy" market conditions.