Hapag-Lloyd, a major player in container shipping, is facing additional expenses ranging from $50 million to $60 million each week due to the current obstruction in the Strait of Hormuz, its CEO informed Xenix News on Wednesday.
CEO Rolf Habben Jansen mentioned that, in contrast to the period before the war, his company is allocating additional funds towards pricier fuel and transporting goods by trucks and trains.
Jansen indicated that he anticipated freight rates — the fees Hapag-Lloyd bills customers for shipping their products — to increase in the coming months to help the company recover its higher expenses.
“That’s ‘fair,’ he stated, “since when you visit the gas station, you can’t inform the attendant that you wish to pay February’s price… you must settle the price of today.”
Jansen characterized Hapag-Lloyd’s performance for the initial quarter of 2026 as “somewhat disappointing.”
The German firm reported a loss of €219 million (approximately $256 million) in the first quarter, attributing this to unfavorable weather conditions in Europe and North America, along with ongoing disruptions stemming from the US-Israeli conflict with Iran.
Hapag-Lloyd presently has four vessels stuck in the Persian Gulf, Jansen mentioned, with two of its ships succeeding in leaving since the conflict began on February 28
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