Hapag-Lloyd Peru: "We fell 7% [in ebit], but operating profit is healthy"

Diego Galindo, CEO of Hapag-Lloyd Peru, explains how the drop in freight rates affected the shipping company's results. He also details the progress of their alliance with Maersk.

It has been a difficult first quarter for shipping companies. The Hapag-Lloyd group lost US$256 million. Has this performance also been reflected in Peru's results?

Indeed, the first quarter closed with a positive group ebitda, but a negative ebit of US$157 million. The expectation for the year is that we could lose US$1,500 million or gain US$500 million. Although we have transported the same cargo as in 2025, freight rates have fallen, on average, by 10%.

So, did Peru's operation also register losses?

Peru and Latin America had less negative results. We fell 7% [in ebit], but operating profit is healthy.

The port of Chancay has been operating for over a year. What has been the impact on your operation?

We do not operate in Chancay due to the higher cost of reaching it. But we do not rule out doing so in the future. We do see that with Chancay, the port [of Callao] is being decongested.

In February 2025, you launched the Gemini Cooperation with Maersk. Does it benefit the Peruvian operation?

'''The alliance is for East-West traffic. All these routes arrive on time 90% of the time. Those that do not represent 70%. It indirectly impacts Peru, because we transship in Cartagena [Colombia], a Gemini hub. In a next stage, it would extend to North-South routes, which would include Peru.'''

What plans does the company have in Peru?

We have redesigned the MSW service route, which goes directly to the Mediterranean. It used to start in Paita; now, it starts in Callao. In addition, we finished implementing tracking equipment across the entire fleet. Globally, we have an order book of 32 ships to be delivered between 2027 and 2029.

What synergies did the acquisition of the Israeli shipping company Zim achieve?

It consolidates us as the fifth largest shipping company worldwide, with over 400 ships. It is very complementary because it is strong in niches such as the Middle East. Regulatory approvals are still pending and may take until the end of the year.