Hapag-Lloyd profit jumps as stronger freight rates drive guidance upgrade

Hapag-Lloyd reported sharply higher third-quarter earnings on Thursday, a day after raising its full-year outlook as robust spot freight rates fueled better-than-expected fourth-quarter trading.

The German container shipping company posted third-quarter group profit of $999 million, compared with $172 million a year earlier. Earnings before interest, taxes, depreciation and amortization, or EBITDA, nearly doubled to $1.73 billion from $866 million, while earnings before interest and taxes, or EBIT, rose to $1.09 billion from $228 million. Revenue increased to $6.88 billion from $5.46 billion.

Hapag-Lloyd (HLAG.DE), which partners with Maersk (OTC: AMKBY) on Gemini services, now expects 2026 EBITDA of $4.6 billion to $5.0 billion, up from its previous forecast of $3.9 billion to $4.4 billion. It also raised its EBIT outlook to $2.0 billion to $2.4 billion from $1.25 billion to $1.75 billion. The executive board approved the upgrade on Nov. 11, citing continued strength in spot freight rates.

The carrier also said it expects to receive regulatory approvals for its purchase of Zim in the first quarter of 2027.

This story was originally published by FreightWaves. Read the full story at FreightWaves →