Hamburg Süd records 10% volume increase

ALAN PEAT IN ITS annual report for 2005 Hamburg Süd and its sister company Aliança Navegação é Logística reported that - as a consequence of rising market volumes - cargo volume in the liner services increased by 10% to over 1.5-million TEUs. Group turnover rose by R3.81-billion (19%) on 2004 to R23.02-bn – of which R18.81-bn (82%) was attributable to the liner division – up on the previous year. Turnover in the tramp division, in contrast, at R3.43-bn (15% of total turnover), was R371.42-million down. A material factor here, said management, was falling earnings in the second half of the year. At R2.93-bn, investment volume in 2005 reached the highest level in the group history - an increase of 28% on the R2.29-bn in 2004. Around two thirds went into the final payments for the “Monte” ships and down payments on 16 further newbuildings to be delivered between 2007 and 2008. The remaining one third was invested in the expansion of the owned share of the container inventory - especially new reefer (refrigerated) containers. At the end of 2005 the group’s fleet totalled 146 units compared to 141 in 2004 - including 56 tramp ships (59). The owned fleet rose to 27 vessels with the addition of three further vessels of the “Monte” class. Said management: “In view of the positive growth forecasts for world trade, and especially the economic development of China, a further rise in cargo volume is expected for 2006.”