|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.85 - 15.85|
|52 Week Range||12.34 - 22.10|
|Beta (3Y Monthly)||1.40|
|PE Ratio (TTM)||188.69|
|Forward Dividend & Yield||0.34 (2.13%)|
|1y Target Est||N/A|
A consortium to improve the technology used in container shipping just got larger with the addition of several big names in the liner business. The Digital Container Shipping Association (DCSA) said France's ...
Hapag-Lloyd reported first-quarter results that were better than expected thanks to strength in its Trans-Atlantic franchise, better exchange rates, and the one-time effect of an accounting rule change. Owner of the fifth-largest container ship fleet globally, Hapag-Lloyd reported net profit to shareholders of $104.4 million, based on the average exchange rate for the quarter. On a constant currency basis, Hapag-Lloyd saw revenue rise 8.6 percent from a year earlier to $3.9 billion.
Hapag-Lloyd is optimistic about the year ahead, despite global trade tensions, the German container shipping company's chief executive said on Thursday after a first quarter earnings rise. "Despite all the uncertainty, we see a somewhat stable development," Rolf Habben Jansen told Reuters, adding that trade wars have so far had a limited effect on Hapag Lloyd's business. U.S. President Donald Trump said on Wednesday that China had broken the terms of a trade deal, adding he would not back down on imposing new tariffs on Chinese goods.
Liner operator looks to better service offering for growth and sees slightly better supply-demand balance for 2019. Hapag-Lloyd said the container ship industry is about as concentrated as it will ever be, with the emphasis now being focused on service quality, not size. The fifth largest container ship company in the world with transport capacity of 1.6 million twenty-foot equivalent (TEU), the German company still only has just over 7 percent market share on a stand-alone basis, after its buyout of United Arab Shipping Co.
German container group Hapag-Lloyd is on course to achieve better earnings and further reduce debts this year as it cuts costs and benefits from merger savings in an improving shipping industry, it said. "We see fairly stable demand growth and the fundamentals are favourable," Chief Executive Rolf Habben Jansen said on a call with analysts on Friday. The upbeat tone was in line with that of French container shipping group CMA CGM, which booked record revenue in 2018 and said the trade outlook was positive despite geopolitical tensions.
FRANKFURT—German prosecutors are investigating a top executive of a prominent European bank for allegedly tipping off acquaintances on the share sale of a shipping company the bank was arranging. Prosecutors based in the German state of Hamburg are probing whether Hendrik Riehmer, managing partner of Hamburg-based Berenberg Bank, leaked insider information that led two people he knew to gain €3.2 million ($3.6 million) from the trading of shares in shipping company Hapag-Lloyd AG.
Germany's Hapag-Lloyd is cleared of a U.S. Department of Justice probe into the practices of container shipping companies, with no charges brought, a spokesman said on Tuesday. "Hapag-Lloyd was informed that the U.S. Department of Justice, Antitrust Division is closing its investigation without charges against the company, its affiliates or any other current or former employees," he said. This followed similar statements by bigger rivals Maersk and Mediterranean Shipping Company (MSC) earlier in the day.
The fifth largest ocean carrier reported revenue growth of 15 percent for last year reaching €11.5 billion ($13.6 billion) for the year, with total volumes rising 21 percent to 11.8 million twenty-foot equivalent (teu) for the year. The gains come thanks to the full year of reporting results from the UASC buyout, which closed in mid-2017. Operating profit for the company came in at €1.138 billion for the year, an 8 percent gain and near the upper end of guidance Hapag-Lloyd gave for 2018 results.
AG (HLAG.XE) said Monday that both its fourth-quarter and full-year revenue rose, citing higher global transport volumes and improved freight rates. Revenue for the fourth quarter at the shipping company was $3.53 billion compared with $3.12 billion a year earlier. Hapag-Lloyd said “higher global transport volumes, steadily improving freight rates in the second half of the year [and] the merger with United Arab Shipping Company Ltd.” were the main growth drivers.
Hapag-Lloyd is on track to meet one of the major goals set out in its 2016 merger with United Arab Shipping Company, according to credit rating agency Moody's, with the result being a strong outlook for the company's debt securities. While high fuel prices still challenge the company's results, Moody's sees advantages for Hapag-Lloyd going into what is expected to be a turbulent period for the ocean shipping market in 2020. Moody's largely credits the company's ability to remain on track with targets set out in its $14 billion mega-merger with UASC that was completed 2017, Hapag-Lloyd said it would save $435 million in overhead costs by this year, with almost 90 percent of those savings expected to be achieved by 2018.
Moody's Investors Service has today upgraded the corporate family rating (CFR) of Hapag-Lloyd AG ("Hapag-Lloyd") to B1 from B2, its probability of default rating (PDR) to B1-PD from B2-PD and its senior unsecured bond ratings to B3 from Caa1. "Our rating action reflects Hapag-Lloyd's progress in integrating UASC following the merger while reducing leverage and generating positive free cash flow on the back of tight cost management and increased efficiencies," says Maria Maslovsky, a Moody's Vice President -- Senior Analyst and lead analyst for Hapag-Lloyd. Today's upgrade of Hapag-Lloyd's ratings reflects the company's achievement of close to 90% of targeted $435 million of synergies from the UASC merger as of 30 September 2018 and the expected realization of full synergies in 2019 as originally outlined.