by Manal Barakat, SeaNewsEditor

Hapag-Lloyd's financial results for 2024 show that the carrier's EBITDA rose to USD 5.0 billion despite a drop in profits compared to last year.

According to the report published today, the group's transport volume increased by 4.7% year-on-year to a total of 12.5m TEU.

The German carrier noted that the Red Sea rerouting increased transport costs and estimated these costs to remain, especially since the company will continue to sail around Africa in the near future.

The revenues of the group's Liner Shipping segment reached USD 20.3 billion, while its Terminal & Infrastructure segment achieved an EBITDA of USD 151 million.

For 2025, Hapag-Lloyd expects a lower EBITDA range between USD 2.5 to 4.0 billion due to "considerable uncertainty" and "major geopolitical challenges."

About its partnership with Maersk, the company's CEO, Rolf Habben Jansen, said, "We are off to a very good start with Gemini, but the economic and geopolitical environment remains fragile. In this context, we anticipate earnings in 2025 to be lower than in 2024."