HAMBURG (dpa-AFX) - In view of the upheavals at the major shipping companies, the port logistics company HHLA is preparing for a withdrawal of container cargo from the Port of Hamburg in the medium term. In particular, the effects of the announced alliance between Hapag-Lloyd and Maersk under the name "Gemini Cooperation" are not yet foreseeable, said HHLA CEO Angela Titzrath on Thursday. "We are just at the beginning of talks, also with our customer Hapag-Lloyd." She referred to existing contracts and to the fact that HHLA is a valued service provider for shipping companies.

Hapag-Lloyd and Maersk announced their cooperation in January. From February 2025, the two container shipping companies intend to sail the seas as partners with parts of their fleets and will be giving up their partnerships with other shipping companies at the beginning of next year. The ships in the new alliance will primarily call at ports where Hapag-Lloyd and Maersk own or control terminals - such as Bremerhaven and Wilhelmshaven in Germany. As a result, less cargo is expected to be handled in Hamburg. Hapag-Lloyd has announced a ten percent drop in cargo at the Port of Hamburg.

Hamburger Hafen und Logistik AG must also prepare for further shifts in shipping alliances. The current European block exemption rule expires on April 25. It allows shipping companies to apply less stringent competition rules to cooperations. "We are in close contact with the shipping companies in order to best prepare for the changes in the market," said Titzrath. The industry is undergoing a fundamental upheaval.

Increase in turnover expected

Before the start of the Gemini alliance, HHLA initially hopes that business will stabilize this year. At Group level, a moderate increase in revenue and an operating result before interest and taxes (EBIT) in the range of EUR 85 million to EUR 115 million are expected, the Group announced. Titzrath pointed out that the forecast contains many uncertainties - in addition to the realignment of the shipping companies, geopolitical tensions and the war in Ukraine are also having an impact on the business.

Last year, HHLA's earnings fell short of its own expectations. EBIT halved to around 109.4 million euros. The bottom line was a profit of 20 million euros - after just under 93 million euros in the previous year. Shareholders are to receive a dividend of 8 cents per share. Previously it was 75 cents.

HHLA expects to invest between 400 million and 450 million euros this year, the majority of which will be in the area of port logistics. The focus will be on the automation and expansion of terminals and the expansion of the rail network.

Effects of MSC's entry unclear

The planned entry of the shipping company MSC is also likely to bring major changes for the port logistics provider. The City of Hamburg wants to manage HHLA together with the world's largest shipping company. The city is to hold a majority stake of 50.1 percent. In addition to increasing HHLA's equity by 450 million euros, the plan is for MSC to increase its cargo volume to an additional one million standard containers per year by 2031. What this means for handling this year is still unclear, said Titzrath. At the moment, there is only a preliminary agreement.

According to the red-green Senate, it wants to secure the future of the port with the MSC investment. There is considerable opposition to the deal, particularly from port workers, works councils, the trade union Verdi and the opposition in the parliament. "We see the worries and concerns of the workforce and are taking them seriously," said Titzrath. In the long term, the deal offers opportunities for the company. Parliament is expected to make a final decision on the deal at the end of May./rgr/DP/jha