Hapag-Lloyd reported "extraordinarily strong results" last year – when the company also marked its 175th year – which the shipping line attributed to higher freight rates and the continued disruption in the global supply chains.

On the basis of preliminary and unaudited figures, Hapag-Lloyd said it ended 2022 with an EBITDA of US$20.5 billion (EUR 19.4 billion).

 Source: Hapag-Lloyd

It added that the EBIT rose to US$18.5 billion (EUR 17.5 billion).

"[This can] primarily be attributed to higher freight rates," Hapag-Lloyd noted, adding that "at the same time, disruptions in global supply chains and inflation have led to a significant increase in costs."

For 2022, the German international shipping and container transportation company said its revenues rose to US$36.4 billion (EUR 34.5 billion), primarily owing to an increase in the average freight rate to US$2,863/TEU up from the US$2,003/TEU in 2021.

Rates started normalizing by end of 2022

Despite the elevated freight rates for most of last year, Hapag-Lloyd noted that already by the end of the year, the freight rate had
"significantly come back down" as congestion eased and demand declined.

Meanwhile, it added that transport volumes for the full-year 2022 were roughly on par with the prior-year level, at 11.8 million TEUs compared to the 11.9 million TEUs recorded in 2021.

Hapag-Lloyd said it would publish its 2022 Annual Report with the audited financial figures and an outlook for the current financial year on March 2.