News / Hapag-Lloyd unveils 'significant decrease in earnings' in 2023

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Hapag-Lloyd illustrated the economic strain shipping lines felt last year in its preliminary business figures for 2023, released this morning.  

Despite the German carrier seeing a rise in transport volumes of 0.5%, to 11.9m teu, it reported total revenue decreased by $17bn over the year, to $19.4bn, down 46.7% from 2022’s $36.4bn. 

However, it said the “significant decrease in earnings” had been expected, and attributed the loss to lower freight rates – its average freight rate fell 48% year on year. Rates averaged ...