Hamburg Süd reports a "modest 2.3 percent" increase in volume to 3.375 million
TEU in 2014. The ocean carrier says it achieved a "positive, albeit
less than satisfactory result" from liner services despite difficult
market conditions.
Capital
expenditure was €348 million last year, 23 percent lower than 2013, and
mainly comprised deposits and final payments for 10 ships of between
4,800 and 9,600 TEU. Another three 'Cap San' newbuilds (right) are scheduled for delivery in 2015.
At
the end of March Hamburg Süd took over the liner services of
Compañía Chilena de Navegación Interoceánica (CCNI) between the west
coast of South America and between Asia, North America and Europe. In
addition to an increase of nearly 300,000 TEU in capacity, the company
says it will achieve market leadership on "certain lanes" and is
developing routes on which it has not previously operated.
Despite
the cost of CCNI integration that will complete by the end of the first
half of 2015, Hamburg Süd says it expects higher operating results for
the year as a result of favorable exchange rates and lower fuel costs.
Collaboration with UASC has also enabled the carrier to reduce its
dependency on South America.
Although
the IMF forecasts a 3.7 percent rise in global trade, the company says
this does not imply a sustained recovery of container liner services in
the coming year. On the back of low interest rates and fresh money it
sees an eight percent rise in net slot growth in 2015.
The
carrier warns that while positive results in box trades can be expected
this year from falling bunker prices, "the industry will see sustained
earnings improvements only if strict cost and capacity management is
accompanied by sustained discipline in terms of rates.
Meanwhile
its investments in more efficient ships has not only reduced operating
costs but also contributed to a 29 percent reduction in CO2 emissions in
2014 – keeping the ocean carrier on track to achieve a 45 percent
reduction by 2020 compared to a 2009 base line.
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