These results reflect a marked decline compared to Q1 2025, primarily attributable to lower average freight rates and operational challenges—including severe weather events across Europe and North America, as well as the temporary closure of the Strait of Hormuz.  

In the Liner Shipping segment, revenues amounted to USD 4.8 billion, down from USD 5.1 billion in Q1 2025. This decline was driven by a reduced average freight rate of USD 1,330 per TEU (versus USD 1,471 per TEU in Q1 2025). Transport volume remained stable at 3.2 million TEU—broadly unchanged year-on-year—despite persistent terminal and supply chain disruptions linked to adverse weather and the Hormuz incident. Segment EBITDA declined to USD 447 million, while EBIT reached –USD 174 million.  

The Terminal and Infrastructure segment partially offset liner shipping pressures: revenues rose to USD 168 million, supported by the full consolidation of J.M. Baxi’s container business and robust volume growth in Latin America and India. Segment EBITDA increased to USD 47 million, and EBIT improved to USD 18 million.  

Chief Executive Officer Rolf Habben Jansen characterized the quarter as unsatisfactory, while highlighting the resilience of the Gemini network—which maintained high service reliability for customers amid challenging operating conditions.  

He reaffirmed Hapag-Lloyd’s commitment to its Strategy 2030, the planned merger with ZIM, and disciplined cost management across all business units.  

For fiscal year 2026, the Executive Board maintains its guidance: Group EBITDA is expected to range between USD 1.1 billion and USD 3.1 billion, and Group EBIT between –USD 1.5 billion and +USD 0.5 billion. This outlook remains subject to substantial uncertainty, reflecting ongoing volatility in freight rates and the evolving geopolitical situation in the Middle East.  

Resource.: https://mp.weixin.qq.com/s/CvD5MbqdaQojamg_tl_Z-A