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Hapag-Lloyd Swings to Q1 Loss on Revenue Decline, Rate Pressure

Hapag-Lloyd reported a $174 million operating loss in the first quarter as the world's fifth-largest container carrier grappled with weather disruptions and soft freight rates. Revenue declined 8% year-over-year to $4.8 billion, while volume slipped 1% to 3.2 million TEUs. Global container traffic expanded 4.4% during the period. Average freight rates weakened to $1,330 per TEU. Chief Executive Rolf Habben Jansen cited Atlantic weather-related supply chain disruptions and rate pressure as key headwinds. The earnings miss contrasts sharply with industrywide volume growth, suggesting market share losses or underutilized capacity. Hapag-Lloyd maintained full-year 2026 EBITDA guidance despite the weak quarter, signaling management confidence in a near-term recovery.