Hapag-Lloyd Resists the Trade War’s Pull With Improved Asia ex-China Volumes — Panjiva
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Hapag-Lloyd Resists the Trade War’s Pull With Improved Asia ex-China Volumes

Corp - Shipping 651 Earnings 382 Global 826 Mode - Containerized 1069 Mode - Seaborne 1350

Container-line Hapag-Lloyd reported a 13.1% year over year improvement in 2Q 2019 revenues. That was driven mostly by better shipping rates – volume growth was just 1.7% – which resulted in an improvement in profitability to 11.0% at the EBITDA line from 7.3% a year earlier. An expansion in volumes is unlikely to help later in the year due to “active capacity reduction in intra-Asia trade” according to the company’s outlook. While the U.S.-China trade war wasn’t mentioned specifically in Hapag Lloyd’s outlook, Panjiva data shows Hapag-Lloyd’s China-to-U.S. volumes fell by 11.9% year over...

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