Multinational German-based transportation company Hapag-Lloyd Friday adjusted its outlook for the financial year 2018, causing shares to fall by about 10% at end of trading on the Frankfurt Stock Exchange.
“Based on the development of the initial five months and the expected business performance for the remainder of the financial year 2018, the Executive Board of Hapag-Lloyd AG has decided today to revise its current outlook for the Group-EBIT and Group-EBITDA for the ongoing financial year 2018 (previous outlook for both: clearly increasing),” it said in a note to investors.
“Reason for that is an unexpectedly significant and continuing increase in the operational costs since the beginning of the year, especially with regard to fuel related costs and charter rates combined with a slower than expected recovery of freight rates.
“These developments cannot be fully offset by cost saving measures that have already been initiated.”
The recent rise in bunker surcharge by other shipping firms such as Maersk, CMA CGM, and ONE were the focus of The European Shippers’ Council in a recent statement saying the development was ‘unjustified’.
Related: European Shippers’ Council acts on bunker surcharges
Photo credit: Hapag-Lloyd
Published: 2 July, 2018
Launches 0.5% sulphur fuel oil and 0.1% sulphur marine gasoil assessments for marine fuels delivered at Zhoushan.
China’s fuel oil tax rebate may lower bunker prices, especially in Asian shipping hubs, says FIS’ Chris Hudson.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Proactively buyers should clarify means of delivery and location of the sampler used to produce the binding contractual samples; Singapore is a notable exception, it said.
VLCC Hull No. 99 is to be equipped with an air lubricated hull and VLCC Hull No. 100 will feature a newly developed auxiliary sail assistance system for propulsion.
The company recorded bunker sales of 3.2 million mt in 2018 and 2.6 times volume increase at Kaliningrad.
‘We are here to transfer the extremely valuable knowledge gained over the past six years to the maritime sector, such that our customers are comfortable in the use of such biofuels,’ states CEO Olivier Baiwir.
Newly appointed Anthony Mollet speaks to Manifold Times about his role, vision, value proposition and plans for the Marine Fuels Alliance to become a wide-reaching and engaging bunkering industry association.
SFP will be retrofitting VPT’s existing bunker vessel with its Full Electric Ready (FER) system and seeks to commission the vessel in the second quarter of 2022, CEO of SFP George Lee tells Manifold Times.
Equatorial Marine Fuel Management Services, Oldendorff Carriers, Lloyd’s Register and organisers took part in a Bunker Quality Claims Webinar moderated by Manifold Times on 10 November.
‘Though it did introduce temporary commercial and operational disruptions, we took a constructive view of the situation and chose to use this event as a learning opportunity,’ shares a Consort Bunkers spokesperson.
Gealubes Consulting & Trading, the authorised marine business distributor of PANOLIN EALs at Singapore port, shares a two-part education series on Environmentally Acceptable Lubricants on Manifold Times.
30 Nov 2021
