Hamburg Sud revenue up 45pc to US$5.6 billion in 2010

GERMANY's second largest carrier Hamburg Sud has posted its financial results for 2010, showing a 45 per cent increase in revenue to about EUR3.9 billion (US$5.6 billion) in 2010 with a volume growth 23 per cent from 2009 to 2.9 million TEU.


The results include its Brazilian subsidiary Alianca as well as the tramp activities operating under Rudolf Oetker and Furness Withy Chartering.


The carrier did not release profit figures, but said: "After the shipping division had been forced to accept a slight loss for the first time in 2009, it succeeded in achieving a pleasing result again in 2010. Operational cash flow increased significantly in comparison with the previous year, enabling capital spending - which also enjoyed a powerful boost to EUR429 million - to be financed from the company's own resources."


The carrier runs a fleet of 169 vessels of which 40 are owned by the company. Among them, 113 ships have been employed in the liner services and 56 in the tramp division.


Its slot capacity deployed in the liner services increased 22 per cent in 2010 from the previous year to 371,000 TEU. This included the delivery of the 4,600-TEU Cap Jackson and the Cap Jervis bound for the Asia-west coast South America loop via Mexico, as well as the 7,100-TEU ships, the Santa Clara and the Santa Isabel, the largest ships in carrier's history destined for Asia-east coast South America trade.


"Powerful cargo growth and the procurement of sufficient container capacity presented logistics with major challenges," said the carrier. "In late 2009 Hamburg Sud was the first liner shipping company to begin ordering new containers in China. In all, 77,000 units were added. This increased the container pool by 17 per cent, to some 396,000 units as of December 31, with a disproportionate growth in reefer containers being recorded."
(Source:http://www.schednet.com)