Container markets will likely continue to bounce back through the third and fourth quarters of this year and return to 2019 levels next year as the recovery from Covid-19 lockdowns continues, according to Rolf Habben Jansen, CEO of Hapag-Lloyd.
The Germany-based container line, now the world’s fifth largest container line by capacity, saw second quarter profits surge on higher freight volumes and lower fuel costs despite reporting year-on-year volume declines.
Speaking in a Q&A webinar earlier this week, Habben Jansen said carriers had benefitted from demand recovering quicker than idled capacity could be reintroduced.
“It was not quite as bad as we expected or feared,” he said. “We saw a very sharp decline of volumes, especially in the months of April and May. But we have seen quite a decent recovery when we look at the last six to eight weeks. Volumes are probably stronger than we all expected.”
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Source: Lloyd’s Loading List