News / Strong Q3 just the tonic to revive Hapag-Lloyd after a weak first half

© Nils Prause

Soaring freight rates and strong third-quarter demand revived Hapag-Lloyd after a relatively difficult first half, according to its latest interim results, out today.

The German carrier loaded just over 3.2m teu during the quarter, compared with 3.1m teu the year before, while its average freight rate grew nearly 23%, to $1,612 per teu, up from $1,312 per teu in Q3 23, when rates began to drop precipitously.

This produced 28% year-on-year growth in shipping revenues, to €5.1bn ($5.37bn), while EBITDA more than ...