Hapag-Lloyd closed the first nine months of 2025 navigating between two forces that define today’s shipping industry: a turbulent global market and demand that, despite the ups and downs, continues to drive volumes upward. The German group reported EBITDA of $2.8 billion and EBIT of $900 million , figures that reflect resilience, but also operational and financial pressures that have marked each quarter. Although profits improved compared to the second quarter, they remained far from the levels reached a year earlier, affected by depressed rates and upward-pressured costs in various regions.

The core business, liner shipping, showed a significant increase in revenue to $15.7 billion, driven by a 9% rise in cargo volumes, which reached 10.2 million TEUs (twenty-foot equivalent units). Growth was concentrated in east-west trade, a clear indicator that routes most exposed to trade tensions continue to show resilience. However, the factor that has eroded profitability is the average freight rate, which fell 4.8% year-over-year to $1,397 per TEU. The German company’s own report acknowledges that the segment’s EBITDA declined to $2.7 billion and EBIT to $900 million, citing the transition to the Gemini network and costs associated with congestion at multiple ports as the causes.

In terminals and infrastructure , the group continued to expand its footprint. Revenues reached $3.75 billion, an increase largely attributed to the acquisition of a terminal in France. However, operating performance showed slight declines: EBITDA reached $110 million and EBIT $46 million.

CEO Rolf Habben Jansen summarized the situation with a phrase that captures the structural tension in the sector: “The first nine months were characterized by a highly volatile market environment… thanks to strong customer demand, we achieved strong growth in throughput and a solid overall result.” He also defended the investment in the Gemini network, noting that “we are setting a new benchmark for quality… and we are seeing the first cost advantages.” Regarding the port expansion under the Hanseatic Global Terminals brand, he added that the company will respond “agilely to changes in global trade and maintain strict cost discipline.”

The shipping company also advanced its decarbonization strategy by approving investments to incorporate up to 22 new vessels of less than five thousand TEU , a mix of owned and long-term chartered units that will serve as the basis for its goal of net zero operations in 2045.

Although overall performance remains within expectations, the Executive Board has lowered its 2025 forecast. It now estimates EBITDA between $3.1 billion and $3.6 billion and EBIT in the range of $600 million to $1.1 billion. The group cautions that uncertainty will continue to be a constant in a world where geopolitical tensions and volatile rates continue to shape the course of maritime transport.

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Hanseatic Global Terminals, a specialist in terminals and port infrastructure, announced the official launch of Hanseatic Global Terminals Latin America, marking the beginning of its first regional expansion and the opening of its office in Santiago, Chile, which represents a defining moment in the company’s history.

Founded in 2024, Hanseatic Global Terminals noted in a statement that the creation of Hanseatic Global Terminals Latin America not only marks the company’s first regional headquarters, but will also serve as a strategic operations hub for North and South America .

The initiative includes the establishment of two new companies under its Inland Services division: Hanseatic Global Terminals Chile Logistics SA and Hanseatic Global Terminals Chile Extraportuarios SA. These units, together with their port subsidiaries, will offer comprehensive logistics and operations services, contributing to the dynamism of foreign trade throughout the region.

“I am proud to see the launch of Hanseatic Global Terminals Latin America. It represents a key step in the realization of our 2030 Strategy and our commitment to supporting our customers as a global terminal operator,” said Dheeraj Bhatia, CEO of Hanseatic Global Terminals.

For his part, Mauricio Carrasco, CEO of the new subsidiary, noted that Hanseatic Global Terminals Latin America is moving forward and has become “a fundamental part of a global terminal network that drives operational excellence in North and South America.”

The company plans to expand from 21 to approximately 30 terminals worldwide by 2030. This new phase strengthens its position as a global operator and its ability to respond to the growing demands of international trade.

Hanseatic Global Terminals belongs to the German group Hapag-Lloyd , after the latter acquired the assets of SAAM Terminals, including Terminal Marítima Mazatlán (TMAZ) , in Mexico.

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As of August 1, SAAM Terminals will officially adopt the name of its parent company, Hanseatic Global Terminals (HGT) , the terminals and infrastructure division of Hapag-Lloyd , in order to enhance its global terminal network and service offering.

“We are delighted to announce the launch of our rebranding initiative and begin the formation of a Hanseatic Global Terminals regional office. SAAM Terminals will become Hanseatic Global Terminals, becoming a significant part of a global network of terminals driving operational excellence in North and South America,” said Mauricio Carrasco, CEO of SAAM Terminals.

This transition will establish the former SAAM Terminals as HGT’s regional office for Latin America. Similarly, SAAM Logistics and SAAM Extraportuarios will be renamed under HGT’s Inland Services business line , the company reported in a statement.

It is worth remembering that SAAM Terminals closed the sale of these assets to Hapag-Lloyd in 2023.

Hanseatic Global Terminals aims to expand from 22 port terminals to approximately 30 by 2030, evolving from a portfolio of terminals to a global terminal operator.

“We are excited about what the future holds. With our optimized portfolio and skilled workforce, Hanseatic Global Terminals is taking solid steps toward achieving our strategic vision. This rebranding marks a significant milestone on our path to becoming a leading global terminal operator by 2030,” said Dheeraj Bhatia, CEO of Hanseatic Global Terminals.

With the announced change, SAAM Terminals’ Santiago, Chile facility will become the regional headquarters for Latin America under the Hanseatic Global Terminals brand, and will operate under the legal name Hanseatic Global Terminals Latin America , SAAM Logistics and SAAM Extraportuarios will also operate under the Hanseatic Global Terminals brand, as part of their Inland Services business line. Their new legal names will be Hanseatic Global Terminals Chile Logistics and Hanseatic Global Terminals Chile Extraportuarios , respectively.

In addition, a makeover will be carried out on the facilities, workwear, offices, and digital assets such as websites and social media.

Processes and procedures will also be standardized and strengthened to ensure consistent, high-quality service worldwide, the document stated.

“Customers, shareholders, investors, and the communities where the company operates will continue to receive the company’s consistently high quality of service. Similarly, the role of the company’s people, teams, and support, as well as its unwavering commitment to safety, reliability, and sustainability, will remain unchanged. This merger provides exciting new opportunities and continued service excellence globally,” he noted.

SAAM Terminals is a port services company, a subsidiary of Hanseatic Global Terminals. It operates 10 ports in Latin America, five of them in Chile.

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Hapag-Lloyd published its annual report on Thursday, indicating that a slight increase in operating profit was achieved in 2024.

“ Group EBITDA amounted to $5 billion . EBIT improved slightly year-over-year, reaching $2.8 billion. At $2.6 billion, Group profit was lower than the previous year, primarily due to lower interest income and higher tax expenses,” the company said in a statement.

“In a challenging market environment, we delivered solid results and further increased customer satisfaction. We have further consolidated and expanded our terminal business under the Hanseatic Global Terminals brand. We have worked to further improve processes, which will bear fruit in the coming years, and we have increased our investments in digitalization and employee training. Finally, we launched the largest newbuilding program in our company’s history, which will allow us to further modernize and decarbonize our fleet,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

In the liner shipping segment, the company reported that shipping volume for the whole of 2024 increased by 4.7% to 12.5 million TEUs (20-foot containers), while the average freight rate remained stable at $1,492/TEU.

As a result, revenue increased to $20.3 billion. Despite increased shipping costs related to the necessary rerouting of vessels around the Cape of Good Hope , EBITDA increased to $4.9 billion, while EBIT remained at the prior-year level of $2.7 billion.

The Terminals and Infrastructure segment saw an improvement in EBITDA in fiscal year 2024, reaching $151 million, thanks in particular to several acquisitions made during the previous fiscal year. EBIT increased to $72 million.

Based on these results, the Executive Board and Supervisory Board of Hapag-Lloyd AG will propose a dividend of 8.20 euros per share for the 2024 financial year to the Annual General Meeting , corresponding to a total payout of 1.4 billion euros. This once again makes Hapag-Lloyd shares one of the most attractive on the German dividend market.

For the 2025 financial year, the Board of Directors expects the Group’s EBITDA to be between US$2.5 billion and US$4 billion and EBIT up to US$1.5 billion , a forecast subject to considerable uncertainty due to the high volatility of freight rates and significant geopolitical challenges.

“In 2025, we are off to an excellent start with Gemini, but the economic and geopolitical environment remains fragile. Against this backdrop, we forecast earnings in 2025 to be lower than in 2024. In the first half of this year, we will roll out our Gemini network and expect to set new standards in schedule reliability. We will continue to develop Hanseatic Global Terminals and look forward to further expanding our landside business. At the same time, we will closely monitor our unit costs and focus on becoming even more efficient and environmentally friendly,” stated Rolf Habben Jansen.

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