{"id":85336,"date":"2025-03-24T00:00:00","date_gmt":"2025-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/24\/hapag-lloyds-net-income-down-by-18-9-y-o-y-in-fy-2024-china-to-invest-usd-1-4-bn-in-tanzania-zambia-railway\/"},"modified":"2025-03-24T00:00:00","modified_gmt":"2025-03-24T00:00:00","slug":"hapag-lloyds-net-income-down-by-18-9-y-o-y-in-fy-2024-china-to-invest-usd-1-4-bn-in-tanzania-zambia-railway","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/24\/hapag-lloyds-net-income-down-by-18-9-y-o-y-in-fy-2024-china-to-invest-usd-1-4-bn-in-tanzania-zambia-railway\/","title":{"rendered":"Hapag-Lloyd\u2019s net income down by 18.9% y-o-y in FY 2024, China to invest USD 1.4 bn in Tanzania-Zambia railway"},"content":{"rendered":"

Shipping <\/strong>giant <\/strong>Hapag<\/strong>-Lloyd recorded a <\/strong>18.9%<\/strong> y-o-y drop in net income to <\/strong>EUR 2.4 bn<\/strong> (c. <\/strong>USD 2.6 bn<\/strong>) for FY 2024<\/strong>, which the firm attributed to lower net interest income and steeper tax levies, according to a financial report (pdf<\/a>) published on Thursday. The firm\u2019s revenues climbed 6.6% y-o-y to EUR 19.1 bn (c. USD 20.7 bn) on the back of improved demand for in its liner shipping and terminal and infrastructure segments.<\/p>\n

Operational expansion: <\/strong>The firm raised its transport volume by 4.7% y-o-y to 12.5 mn TEUs despite incurring elevated transport costs owing to the rerouting<\/a> of liners from the Red Sea to South Africa\u2019s Cape of Good Hope. The company\u2019s terminal and infrastructure segment saw improved earnings growth on the back of its acquisitions spree in FY 2023.<\/p>\n

What\u2019s next? <\/strong>Hapag-Lloyd\u2019s outlook for 2025 is characterized by high uncertainty on the back of seismic geopolitical changes and fluctuating freight rates, the company said. The company says it will not resume Red Sea shipments until security concerns abate, whereas the fate of global tariffs \u2014 a major factor for the year\u2019s financial performance \u2014 remains unpredictable.<\/p>\n

\n

\n

China <\/strong>will invest USD 1.4 bn to upgrade the decades-old Tanzania-Zambia railway<\/strong>, the railway operator\u2019s Managing Director Bruno Ching\u2019andu told Bloomberg<\/a> on Thursday. China Civil Engineering Construction Company is in talks to clinch a 30-year concession for the project \u2014 which is a Mao-era line that links Zambian copper mines to Tanzania's largest port.<\/p>\n

REMEMBER- <\/strong>China, Zambia, and Tanzania inked an initial agreement last year<\/a> to revitalize the so-called Tazara railway, which extends over 1.8 km and aims to enhance rail-sea transportation in East Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

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