Hapag-lloyd saw a 50% increase in container bookings from China to the United States after resting in the tariff war between trading partners.

CEO Rolf Habben Jansen explained in a comment on the earnings call that despite the recent bookings dropping by 20%-30%, “growth in recent days has exceeded 50%”, despite noting that it is difficult to predict the exact growth pattern.

"We expect the capability to return soon. We have deployed smaller vessels instead of doing blanks (cancelled sailings) and we will be revoked as soon as possible. In the next few weeks, we will deploy larger vessels again, and others may also increase capacity as the quarter progresses."

The CEO also confirmed that thanks to the simplified Gemini network with Musk, it is possible to achieve elevated vessels without significant damage and “do not substantially change the overall cost”, and there is currently no question about the wrong location of the container.

Profits rose 45% to $469 million in revenue, with profits in the first quarter up 15% year-on-year to $5.3 billion, due to a 9% increase in bushing volume, the highest year-on-year growth in several years.

Liner transport revenue was $5.2 billion, with a volume of 3.3 million equivalent units, with an average freight rate of $1,480 per TEU, both of which were 9% higher than strong demand. Earnings before interest, taxes, depreciation and amortization increased by 18% to $1.1 billion, and earnings before interest and tax increased by 25% to $472 million.

The successful launch of Gemini Networks has a timeline of 90%, which is in an industry that is typically around 65%.

During the quarter, carriers face operational challenges, including ongoing re-wiring of vessels from the Red Sea and around the Cape of Good Hope, as well as damage at various ports. These challenges increase operational costs and affect efficiency, but effectively manage to minimize adverse effects on overall performance.

After the Lunar New Year, spot freight rates dropped significantly, which led to normalization of returns across the industry. Hapag-lloyd said the demand trends for the remainder of 2025 are facing uncertainty due to various geopolitical and economic factors. Higher tariffs and potential demand damage will pose risks to volume growth, especially in the Chinese trade lane.

Find more articles by Stuart Chirls here.

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