With supply chain disruptions projected to continue in the second half of 2021, Hapag-Lloyd expects a profit of US$9.2 billion to US$11.2 billion for the entire year.

According to preliminary financial results released, the shipping company said in the first half of 2021, it expects EBITDA of roughly US$4.2 billion, up from US$1.3 billion in the same time in 2020.

Nonetheless, the Hamburg-based container line offered bleak statement for shippers looking for some normalisation of supply chains and the record high container freight rates in the second half of 2021.

Because worldwide demand for container shipping remains high, it expects operational interruptions throughout the supply chain to cause considerable delays, worsening the supply shortage.

As a result, rather than the predicted gradual normalization of earnings in the second half of the year, Hapag-Lloyd now forecasts even larger profits in the second half of the year.

Hapag-Lloyd said it is forecasting an EBITDA for 2021 as whole of US$9.2 billion  to US$11.2 billion.

“We also benefitted from better freight rates in the second quarter and are looking at a very strong first half-year overall. At the same time, since we firmly expect this momentum to carry over into the second half of the year, we have raised our earnings forecast for 2021 as a whole,” Rolf Habben Jansen, CEO of Hapag-Lloyd, commented.