Hapag-Lloyd joins Q3 boosters

GERMANY’S Hapag-Lloyd has joined its leading liner trade brethren in reporting a bumper 2026 third quarter, leading to a third consecutive increase in projected full-year earnings.

The day before releasing its results, the company announced the executive board had raised its earnings outlook for the 2026 financial year once again, with Group EBITDA now expected to be in the range of US$4.6 to 5.0 billion (previously: US$3.9 to 4.4 billion) while Group EBIT is expected to be in the range of US$2.0 to 2.4 billion (previously: US$1.25 to 1.75 billion).

Against the backdrop of volatile freight rates and persistent geopolitical challenges, the forecast is subject to a considerable degree of uncertainty, the board said.

Nevertheless, Q4 business performance is already developing better than previously expected, CEO Rolf Habben Jansen said yesterday [12 November] in delivering strong Q3 results.

Hapag-Lloyd concluded the third quarter with a significantly higher Group EBITDA of US$1.7 billion (EUR 1.5 billion) compared with the same period last year. Group EBIT climbed to US$1.1 billion (EUR 0.9 billion) and Group profit to US$1.0 billion (EUR 0.9 billion).

The main drivers of this positive development were significantly higher freight rates, strong vessel utilization in the Liner Shipping business and dynamic growth in the Terminal & Infrastructure segment, Hapag said.

In the Liner Shipping segment, revenue increased to US$6.7 billion (EUR 5.8 billion) in the third quarter of 2026, driven by a significantly higher average freight rate of US$1,808 per TEU (Q3 2025: US$1,413 per TEU).

Transport volumes reached 3.4 million TEU, remaining in line with the prior-year quarter despite the conflict in the Middle East and weather-related operational disruptions, both of which also put pressure on unit costs. EBITDA increased to US$1.7 billion (EUR 1.4 billion), while EBIT rose to US$1.1 billion (EUR 0.9 billion).

The Terminal & Infrastructure segment continued to grow. Revenue increased to US$197 million (EUR 171 million) in the third quarter of 2026, reflecting investments in new and existing terminal capacity and improved performance of Latin American terminals. EBITDA advanced to US$56 million (EUR 49 million), while EBIT improved to US$34 million (EUR 29 million).

“We delivered a strong third quarter, driven by significantly higher spot rates, robust demand and high capacity utilization,” Mr Habben Jansen said. “Both our Liner Shipping and Terminal & Infrastructure businesses performed well, supported by the continued expansion of our global terminal portfolio.

“At the same time, unit costs still remain under pressure due to geopolitical tensions and operational disruptions.”