GERMAN port operator and stevedore Hamburger Hafen und Logistik (HHLA) posted a 26 per cent increase in year-on-year first quarter operating profit to EUR46 million (US$56.1 million), drawn on revenues of EUR348.7 million, up 3.9 per cent.
First quarter container revenue only increased 1.3 per cent to EUR198.1 million. But volume shortfalls were more than offset by an increase in revenue quality, said he company statement.
"Whereas container transport rose by 10.7 per cent in the first quarter, container throughput fell 6.6 per cent in the first three months of the year," said HHLA.
"The decrease is due to the loss of a Far East service at Container Terminal Burchardkai in May 2020. Conversely, the Real Estate subgroup posted significant decreases in both revenue and earnings." it said.
Said HHLA chairwoman Angela Titzrath: "HHLA remains commercially successful. We are focusing on measures to carry out the restructuring programme in the container segment.
"Our rail subsidiary Metrans once again made an outstanding contribution to the positive course of business in the first quarter. Thirty years after its foundation, Metrans has every reason to be proud of what it has achieved," she said.
"This was mainly due to the loss of a Far East service in mid-May 2020. Cargo volumes for Far East services subsequently decreased slightly, while volumes for Middle East services fell strongly.
"There were also significant decreases in the United Kingdom shipping region and in feeder traffic in the Baltic region. While throughput volume at the three Hamburg container terminals was down 7.2 per cent on the same period last year, the terminals in Odessa and Tallinn declined 0.3 percent to 143.800 TEU," she said.