Hapag-Lloyd nine-month profit falls 50% amid shipping market volatility

German container shipping company Hapag-Lloyd reported a 50% drop in nine-month net profit to €846 million ($986.6 million) on Thursday, citing market volatility and rising costs. The company also lowered the top end of its full-year earnings outlook.

Hapag-Lloyd, one of the world’s leading container shipping firms, operates a global fleet transporting goods across major trade routes. The company narrowed its full-year earnings before interest and taxes (EBIT) forecast to €0.5–1.0 billion, down from the previous range of €0.2–1.1 billion announced in August. Nine-month EBIT fell 55% year-on-year to €809 million, despite a 9% increase in transport volumes to 10.2 million twenty-foot equivalent units (TEU).

CEO Rolf Habben Jansen said the company would “respond agilely to changes in global trade and maintain strict cost discipline.” He added that early cost advantages are emerging from the new Gemini cooperation with rival Maersk, despite prior investments.

Security concerns in the Red Sea and shifting U.S. trade policies have contributed to unstable demand and fluctuating freight rates, affecting profitability across the shipping sector, a key indicator of global economic activity.

Shares of Hapag-Lloyd fell about 2.3% to €114.55 following the earnings release, reflecting investor caution amid ongoing market volatility.