German shipping group Hapag-Lloyd reported an “unsatisfactory” first-quarter result, citing the impact of lower freight rates and operational disruptions from severe weather conditions and the blockage of the Strait of Hormuz. The group’s first quarter profit for 2026 is significantly below the prior-year quarter, with the 2026 outlook remaining unchanged.

The container shipping giant delivered “unsatisfactory” first quarter figures for 2026, recording a group profit of USD -256m (EUR -219m). In the first quarter, the group EBIT declined to USD -157m (EUR -134m) compared to EUR 463m for the same period last year.

Meanwhile, the group’s EBITDA stood at EUR 422m (with the same period last year being EUR 1,048m).

“The first quarter of 2026 was unsatisfactory for us, with weather-related supply chain disruptions and pressure on freight rates leading to significantly lower results. At the same time, our Gemini network has proven its resilience even under difficult conditions, helping us maintain a reliable service offering for our customers,” chief executive Rolf Habben Jansen said in a statement.

The group confirmed its outlook for the 2026 financial year, saying it would focus on “rigorous cost management” in the context of volatile markets.

“We will stay firmly focused on our Strategy 2030 and the next milestones for the successful completion of our merger agreement with ZIM while we maintain our rigorous cost management as we navigate the volatile market environment,” noted chief executive Jansen.

For the 2026 financial year, Hapag-Lloyd’s executive board continues to expect the group EBITDA to be in the range of USD 1.1 to 3.1bln (EUR 0.9 to 2.6bln) and the group EBIT to be in the range of USD -1.5 to 0.5bln (EUR -1.3 to 0.4bln).

The group said the outlook remains subject to considerable uncertainty due to the highly volatile development of freight rates and the conflict in the Middle East.

Meanwhile, Danish container liner Maersk said Tuesday it is continuing to avoid transits through the Strait of Hormuz due to the highly volatile situation in the region.

In its latest Middle East operational update issued Tuesday, Maersk said the situation remains “deeply dynamic,” and warned that full maritime certainty has not yet assured. “Information is still scarce, and we are urgently seeking clarification,” the company said, adding that volatility persists in the situation.

“In coordination with our security partners, we have assessed that as of now, transit through the Strait should be avoided. We will continue monitoring developments and provide updates as clarity improves.”

Maersk welcomed U.S. efforts to restore freedom of navigation but made it clear that any decision to transit the Strait of Hormuz will be based on continuous risk assessments, close monitoring of the security situation, and available guidance from relevant authorities and partners.

The advisory highlights that Maersk is closely following the developments. “Once we understand the details of the US administration’s initiative,” it says, “it will be factored into our ongoing security reviews.”