Due to subdued market growth and operational problems in the vastly overstretched ports in Brazil, Hamburg Süd and its Brazilian subsidiary Aliança were only able to increase transport volume in liner services by 1 per cent year-on-year to around 3.3 million TEU.
With freight rates falling slightly and devaluation of the most important earnings currency (US dollar) by around 4 per cent as against the euro, total revenues of the business field shipping fell by 3.9 per cent to €5.3 billion.
In 2013, worldwide bulk shipping was still marked by substantial overcapacity and transport volumes – particularly to China – falling below expectations, even if there was an apparent improvement towards the end of the year.
Overall, Hamburg Süd’s bulk business and product tanker business failed to generate positive results last year. Liner services were slightly better than the previous year, and also performed well by industry comparison.
Despite the unsatisfactory business environment, investments totalling €450 million were considerably above the level of the previous year (€247 million). These investments mainly comprise instalments and final payments for twelve 9,000/9,600 TEU ships and four smaller 3,800 TEU newbuilds.
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Hamburg Sud, April 1, 2014