News / Hapag-Lloyd Q1 profit tops 2020 total – but 'we should have done better'

© Solarisys13

Hapag-Lloyd has posted a net profit of $1.45bn for the first quarter of the year, compared with just $27m for the same period of last year.

But it said it could have done even better, but for vessel and box shortages.

Revenue was up 33% on Q1 20, to $4.9bn, from 3% less volume, 2.97m teu, for an average freight rate per teu of $1,509. This was 38% higher than the previous year.

Hapag-Lloyd’s Q1 lifting decline compares with Maersk’s 5.7% volume growth and ...