Hapag-Lloyd Swings to Loss as Strait of Hormuz Chaos and Weather Delays Hit Shipping

Container shipping giant Hapag-Lloyd reported a sharp deterioration in first-quarter earnings on Tuesday, blaming severe weather disruptions and the conflict in the Middle East for rising costs and weaker operational performance as the shipping industry grapples with another volatile year. 

The German carrier posted Group EBITDA of $494 million (€422 million) for the first quarter of 2026, down sharply from €1.05 billion a year earlier. Group EBIT swung to a loss of €134 million from a €463 million profit in the same quarter last year, while net profit fell to a loss of €219 million.

Hapag-Lloyd said lower freight rates, severe weather