Liner schedule reliability worsened in a Q4 'rife with challenges'
The pervasive headwinds of Q4 24 translated into yet another decline in ocean shipping schedule ...
“The stable rating outlook is anchored in our expectations of (1) continued pricing discipline, resulting in prioritisation of sustaining solid profitability; (2) flawless pass-through of the increased bunker costs stemming from IMO 2020; and (3) continued focus on sustaining a strong balance sheet. If our expectations materialise, our projections point to free cash flow (FCF)/debt of 9%-11% and debt/ebitda of 3.0x-3.5x over the next 12-18 months.”
– Moody’s on Hapag-Lloyd, sourced from “Update to credit analysis” dated 26 February 2020.
A note ...
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