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Hapag-Lloyd CEO: Sino-US tariff escalation may inhibit international container shipping growth

  • Author:Rita
  • Source:Sunny Worldwide
  • Release Date:2019-02-16
According to foreign media reports, Hapag-Lloyd, one of the top five shipping companies in the world, said recently that the escalation of tariff war between China and the United States may inhibit the growth of international container shipping because of ship operators. In the second half of last year, the company started its transportation business in advance.

Hapag-Lloyd CEO Rolf Habben Jansen told reporters on Tuesday: "Many customers are trying to ship goods to the US ahead of schedule in the second half of 2018, creating additional growth."

He added: "This shows that some container shipping operations have been completed ahead of schedule. However, due to the relatively stable European trade activities, the direct crisis has not arrived immediately, until later this year will be clear whether shipping companies are suffering damage."

The shipping industry has only slowly recovered from the oversupply of ships. The oversupply has caused the shipping industry to fall into a downturn for nearly a decade, forcing some companies to go bankrupt, while others will have to combine forces to seek economies of scale.

Habben Jansen said that freight rates in other regions are temporarily stable, and further movements for the rest of the year will appear before mid-May.

In terms of ship supply, he said that the number of orders is very small, accounting for only 10% of the global fleet, and some ship scrapping activities are obvious.

Habben Jansen said that the preliminary results announced on February 25, 2018 may reflect that traffic growth is above market average and the results should be “satisfactory”.

Hapag-Lloyd said in November last year that the late peak season of 2018 may increase the full-year earnings.

The company's EBIT target is 2 - 450 million euros (about 2.264 - 509.40 million US dollars).

Under the supervision of the International Maritime Organization, Hapag-Lloyd will introduce a surcharge mechanism this year to explain that the standard fuel-grade sulfur limit that IMO will come into force on January 1, 2020 will fall from 3.5% to 0.5%. Provisions.

Habben Jansen said it is important to have the right fuel terms in all contracts.