Severe weather and Middle East conflict: Hapag-Lloyd Q1 result unsatisfactory in International Shipping News 14/05/2026 Hapag-Lloyd has concluded the first quarter of 2026 with a Group EBITDA of USD 494 million (EUR 422 million). In the same period, the Group EBIT declined to USD -157 million (EUR -134 million) and the Group profit to USD -256 million (EUR -219 million). Compared with the same quarter of the previous year, earnings were impacted by lower freight rates and operational disruptions as a result of severe weather conditions and the blockage of the Strait of Hormuz. In the Liner Shipping segment, revenues decreased to USD 4.8 billion (EUR 4.1 billion), primarily due to the lower average freight rate of USD 1,330/TEU (Q1 2025: USD 1,471/TEU). Transport volume was 3.2 million TEU and nearly on par with the prior-year quarter – despite bad weather conditions in Europe and North America, which resulted in ongoing disruptions of terminal operations and supply chains. Additionally, the blockage of the Strait of Hormuz led to disrupted volume flows. EBITDA decreased to USD 447 million (EUR 382 million), while EBIT amounted to USD -174 million (EUR -149 million). In the Terminal & Infrastructure segment, revenues increased to USD 168 million (EUR 144 million) in the first quarter of 2026 due to the first-time full consolidation of J M Baxi’s container business as well as strong volume growth in Latin America and India. EBITDA rose to USD 47 million (EUR 40 million), while EBIT amounted to USD 18 million (EUR 15 million). “The first quarter of 2026 was unsatisfactory for us, with weather-related supply chain disruptions and pressure on freight rates leading to significantly lower results. At the same time, our Gemini network has proven its resilience even under difficult conditions, helping us maintain a reliable service offering for our customers. We will stay firmly focused on our Strategy 2030 and the next milestones for the successful completion of our mer