Solid results in '24 and a good start to '25, says bullish Hapag-Lloyd CEO
German container shipping line Hapag-Lloyd appears to have slightly lost market share last year, today ...
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By Mike Wackett
Standard & Poor’s (S&P) have upgraded their credit ratings for ocean carriers Hapag-Lloyd and CMA CGM ahead of expected bumper third-quarter earnings for the container line sector.
Hapag-Lloyd’s rating is up by one notch, from ‘B+’ to ‘BB-’, with a ‘positive’ outlook, the highest rating assigned to the carrier since 2010.
S&P said it expected Hapag-Lloyd to continue its solid performance, with a strengthened cash flow and reduced debt, resulting in “stronger-than-expected credit metrics”.
Hapag-Lloyd chief financial officer Mark Frese said: “We are ...
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