Hapag-Lloyd AG celebrates 175th anniversary
The Hamburg-Amerikanische Packetfahrt-Actien-Gesellschaft (Hapag) is celebrating its 175th anniversary on Friday (May 27, 2022). Founded on May 27, 1847 by shipowners and merchants, Hapag-Lloyd AG emerged in 1970 from a merger with North German Lloyd in Bremen. Further acquisitions followed including those of Canadian Pacific (2005), CSAV (2014), UASC (2017), NileDutch (2021) and the incorporation of DAL's container liner business in 2022. The Hamburg-based Hapag-Lloyd is presently the world's fifth-largest container liner shipping company and Germany's largest with 248 container ships and a container fleet of around 3.0 million TEU. A total of 123 liner services connect more than 600 ports on every continent.
Albert Ballin - founder of the cruise
The company initially focused on transporting mail and passengers especially emigrants to North America. Cargo played a secondary role at first. Albert Ballin, Director-General (1857-1918), hit on the idea for the cruise and led the emigration business in Hamburg to great heights. The company has always stayed the course despite the loss of virtually all of its ships in both world wars. Rolf Habben Jansen, CEO of Hapag-Lloyd AG, remarked: "Our anniversary fills us with great pride. As with many long-established companies, our history has also been characterised by constant change and innovation. Hapag, which initially sailed the Atlantic with just a single sailing ship beginning in 1848, has today become a renowned and internationally active logistics company serving almost all of the world’s major ports.”
Great start to 2022
The company is commemorating its 175th anniversary with all kinds of activities including a conference, a party for employees in Hamburg, and a congress this year. “Hapag-Lloyd has every reason to celebrate – but also to be grateful,” Habben Jansen added. “Thanks are due to our more than 14,000 employees around the world, our customers, our shareholders and everyone who has played a part in helping Hapag-Lloyd to stay on course and to successfully weather even the most difficult times over the past 175 years.” And the company is faring well, as reflected by figures for Q1 of 2022. Hapag-Lloyd closed this year's first quarter with EBITDA of USD 5.3 billion (EUR 4.7 billion) while EBIT grew to USD 4.8 billion (EUR 4.3 billion) and net profit rose to USD 4.7 billion (EUR 4.2 billion).