EMEA News
Costlier Bunker Fuel Will Bear Down on Competitiveness, Says Hapag-Lloyd CEO
Inflationary pressures are back on shipping executives' agendas as the post pandemic disruption fades, the chief executive of a major container line has said.
In an earnings call, Habben Jansen, the CEO of Hapag-Lloyd, pointed to costlier bunker fuels as a concern going forward, Reuters reports.
Box trade profits have risen on the back of pent up post-pandemic demand but as that demand fades and the market settles, inflationary pressures including bunker fuel have come back to the fore.
The run up to Chinese New Year could lend some momentum to a market which will otherwise be burdened with falling spot rates and higher unit costs, the chief executive was reported as saying.
Hapag Lloyd is one of the top five box ship operators globally.
