German container shipping company cites volatile market conditions and low freight rates for earnings decline, while highlighting quality improvements from new Gemini network and plans for fleet modernisation investments
Hapag-Lloyd has revealed that group EBITDA hit US$2.8bn in the first nine months of 2025, down from the US$3.592bn recorded last year.
Group EBIT came in at US$905mn, down from US$1.94bn in the same period of 2024, while group profit fell from US$1.833bn to US$946mn.
Revenue climbed from US$115.283bn to US$16.049, driven in part by a “significant increase” in transport volumes, leveraging the new Gemini network.
Global trade continued to grow despite multiple trade conflicts, which led to volatile demand and fluctuating freight rates, it outlined.
In the third quarter of 2025, earnings improved compared with the second quarter, but remained ”significantly below prior-year” due to low freight rates and upward cost pressure.
“The first nine months were characterised by a highly volatile market environment, partly due to geopolitical developments and uncertainties surrounding trade policies,” explained Rolf Habben Jansen, CEO of Hapag-Lloyd.
”On the back of strong demand from our customers we delivered strong transport volume growth and achieved a solid overall result.
”With the Gemini network, we set a new quality benchmark in terms of schedule reliability, which clearly sets us apart from our competitors,” he continued.
”We see first cost advantages from Gemini and will deliver the planned savings in full in the course of 2026.
”Additionally, we have further expanded our terminal business under the Hanseatic Global Terminals brand,” Habben Jansen noted.
”Looking ahead, we will respond agilely to changes in global trade and maintain strict cost discipline.
While doing so, we will not compromise on quality for our customers,” he added.
Hapag-Lloyd said that, as part of the ongoing modernisation and decarbonisation of its fleet, it has decided to invest in up to 22 new ships in the segment with capacities of less than 5,000 TEU – probably a mix of L/T charters and owned vessels.
“This marks another important milestone for Hapag-Lloyd on its path to improved efficiency and net-zero fleet operations by 2045,” it stated.
The company’s executive board said it has further narrowed its earnings forecast for the full year 2025.
Group EBITDA is now expected to be in the range of US$3.1-3.6bn with EBIT to be in the range of US$ 0.6-1.1bn.
