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Hamburg port's quarterly earnings rise 34pc to US$26.67 million
HAMBURG port authorities Hamburger Hafen und Logistik (HHLA) saw first quarter profit after tax and minority interests rise 34.4 per cent year on year to EUR24.4 million (US$26.67 million), due to an increase in container throughput that drove revenue up 7.1 per cent to EUR305.1 million.
Container throughput increased 10.3 per cent year on year to 1.8 million TEU, which port authorities attributed to a recovery in Far East volumes, significant growth in feeder traffic with the Baltic Sea ports, and a 5.4 per cent increase in throughput at its container terminal Odessa in Ukraine.
The container transports of HHLA's intermodal companies increased by 8.4 per cent 370,000 TEU, with both rail and road transport contributing to this growth.
"HHLA has solid foundations. This is due in part to the successful progress of negotiations held so far with shipping companies about their new schedules. We believe we have succeeded in securing steady demand for our container terminals from our customers," HHLA chairwoman Angela Titzrath.
"The company remains nevertheless aware of risks that could quickly influence economic developments and have an impact on business," Ms Titzrath said. "On the other hand, we also see many opportunities in innovation and digitalisation."
Container throughput increased 10.3 per cent year on year to 1.8 million TEU, which port authorities attributed to a recovery in Far East volumes, significant growth in feeder traffic with the Baltic Sea ports, and a 5.4 per cent increase in throughput at its container terminal Odessa in Ukraine.
The container transports of HHLA's intermodal companies increased by 8.4 per cent 370,000 TEU, with both rail and road transport contributing to this growth.
"HHLA has solid foundations. This is due in part to the successful progress of negotiations held so far with shipping companies about their new schedules. We believe we have succeeded in securing steady demand for our container terminals from our customers," HHLA chairwoman Angela Titzrath.
"The company remains nevertheless aware of risks that could quickly influence economic developments and have an impact on business," Ms Titzrath said. "On the other hand, we also see many opportunities in innovation and digitalisation."
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