News / Hapag-Lloyd profits triple and soaring rates promise billions more in 2021

© Nils Prause

Hapag-Lloyd will see billion-dollar profits this quarter and the next, as even higher freight rates kick in across global tradelanes.

Boosted by an ebitda of $1bn, and a net profit of $463m, in the final quarter, the German carrier posted a profit of $1.1bn for last year, compared with $418m the previous year.

But it said it expected profitability to “significantly increase” this year, and has issued guidance of an ebitda of $1.8bn for the current quarter.

Liftings declined by 1.6% in 2020, ...