{"id":72768,"date":"2023-08-14T00:00:00","date_gmt":"2023-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/14\/hapag-lloyd-latest-to-see-income-fall-amid-muted-demand-a-slowdown-in-trade-is-weighing-on-the-global-economy\/"},"modified":"2023-08-14T00:00:00","modified_gmt":"2023-08-14T00:00:00","slug":"hapag-lloyd-latest-to-see-income-fall-amid-muted-demand-a-slowdown-in-trade-is-weighing-on-the-global-economy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/14\/hapag-lloyd-latest-to-see-income-fall-amid-muted-demand-a-slowdown-in-trade-is-weighing-on-the-global-economy\/","title":{"rendered":"Hapag-Lloyd latest to see income fall amid muted demand + A slowdown in trade is weighing on the global economy"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Hapag-Lloyd earnings dip in 1H 2023 amid falling demand: <\/strong>Container giant Hapag-Lloyd reported a net income of USD 3.1 bn in 1H 2023 and revenues of USD 10.8 bn, according to its <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/company\/press\/releases\/2023\/08\/hapag-lloyd-achieves-robust-half-year-results-in-a-weaker-market.html\" style=\"\" rel=\"noopener\">earnings release<\/a>. Transport volumes fell 3.4% y-o-y to 5.8k TEU, mostly due to reduced demand for container shipments along the Far East and European trade routes to North America. The decline in revenue was primarily attributed to a lower average freight rate of 1.76k USD\/TEU, down from to 2.85k USD\/TEU in 1H 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Looking ahead: <\/strong>Hapag-Lloyd reiterated its previously announced <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/company\/press\/releases\/2023\/03\/annual-report-2022.html\" style=\"\" rel=\"noopener\">outlook<\/a> for the 2023 financial year, while noting that the ongoing war in Ukraine, geopolitical uncertainties, persistent inflationary pressures, and high inventory levels could all potentially adversely impact the forecast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The economies of the world\u2019s top exporters are faltering amid a slowdown in <\/strong><strong> global trade <\/strong>, and could potentially drag other economies down, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-11\/the-hard-landing-is-here-for-trade-roiling-world-export-champs?srnd=economics-trade\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. The world\u2019s three largest exporters \u2014 China, the US, and Germany \u2014 all saw declining trade figures in June. Nevertheless, major exporters with robust domestic demand to bank on, such as the US and Indonesia, have been less hard-hit by the decline in trade. Export-oriented economies such as China and Germany are more vulnerable, and until inventories decline and manufacturing ramps up again, are expected to have an impact on global growth. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO WORTH KNOWING- <\/strong><\/p>\n<ul>\n<li><strong> Mns of <\/strong><strong> Amazon orders <\/strong><strong> \u2014 and around <\/strong><strong> 11 <\/strong><strong> % of all items \u2014 in the US are now being <\/strong><strong> delivered without its additional packaging <\/strong>, as part of the company's efforts to reduce its climate impact and to cater to customers that are concerned about excessive packaging waste. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/amazon-deliver-prime-speed-packaging-a616a135\" style=\"\" rel=\"noopener\">The Wall Street Journal<\/a>) <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>!_ Hapag-Lloyd earnings dip in 1H 2023 amid falling demand: Container giant Hapag-Lloyd reported a net income of USD 3.1 bn in 1H 2023 and revenues of USD 10.8 bn, according to its earnings release. Transport volumes fell 3.4% y-o-y to 5.8k TEU, mostly due to reduced demand for container shipments along the Far East [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72769,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[248,448,17,55,123,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-72768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics-in-the-news","tag-china","tag-earnings","tag-enterprise-logistics","tag-logistics-in-the-news","tag-shipping-maritime","tag-trade","wpautop","entry"],"acf":{"mongo_id":"21a10881-278c-4549-b26a-07623b18a485","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/621.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hapag-Lloyd latest to see income fall amid muted demand + A slowdown in trade is weighing on the global economy","related_issue":[72750],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.0a84cc2a-294a-4557-9c82-caaeb0b481cf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hapag-Lloyd latest to see income fall amid muted demand + A slowdown in trade is weighing on the global economy - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/14\/hapag-lloyd-latest-to-see-income-fall-amid-muted-demand-a-slowdown-in-trade-is-weighing-on-the-global-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hapag-Lloyd latest to see income fall amid muted demand + A slowdown in trade is weighing on the global economy\" \/>\n<meta property=\"og:description\" content=\"!_ Hapag-Lloyd earnings dip in 1H 2023 amid falling demand: Container giant Hapag-Lloyd reported a net income of USD 3.1 bn in 1H 2023 and revenues of USD 10.8 bn, according to its earnings release. 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