Financial News

Hamburg, 26 May 2021

Hapag-Lloyd further expands its container fleet: 60,000 TEU of standard containers ordered

- Standard containers scheduled for delivery beginning in July

- Response to equipment shortage

- Hapag-Lloyd to increase investment in its container fleet to 210,000 TEU in total

The sharp increase in demand has led to a shortage of containers across the world. Severe imbalances - such as with exports from Asia, but also owing to congestion in ports and delays in hinterland transports - are causing containers to be tied up in transit for considerably longer periods of time. More boxes are currently needed overall to manage the same transport volume.

For this reason, Hapag-Lloyd has once again invested in its container fleet and ordered an additional 60,000 TEU of standard containers from China. The first boxes will supplement those currently being produced and are scheduled to be delivered to Hapag-Lloyd as early as July and integrated into the existing fleet. The majority will be subsequently delivered in the third quarter.

"Demand continues to be very high, and the supply of container equipment is currently one of our industry's biggest challenges and demands our full attention. To counteract the container shortage - but, most importantly, to offer our customers a better service - we have repeatedly invested in our container fleet since the beginning of the pandemic," said Rolf Habben Jansen, CEO of Hapag-Lloyd.

In April of this year, Hapag-Lloyd had already announced orders for a total of around 150,000 TEU of standard and reefer containers to be delivered over the course of 2021. The company had also invested in its container fleet at the beginning of the pandemic.

About Hapag-Lloyd
With a fleet of 241 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The Company has around 13,300 employees and 395 offices in 131 countries. Hapag-Lloyd has a container capacity of approximately 2.8 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 121 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company's forward-looking statements.