Hapag-Lloyd reported an earnings recovery in the second quarter of 2026, supported by stronger freight rates and higher container volumes. However, disruption in the Middle East created around US$600 million in additional costs during the quarter. The German container shipping company reported Group EBITDA of US$829 million in Q2 2026, slightly above the US$820 million recorded a year earlier. Meanwhile, Group EBIT fell to US$176 million from US$189 million. Group profit declined more sharply to US$83 million, compared with US$306 million in Q2 2025. Revenue increased to US$5.84 billion from US$5.27 billion in the same quarter last year. Hapag-Lloyd said the second quarter showed a clear improvement from the start of 2026. Strong exports from Asia and improved demand in the United States supported the recovery. Freight rates rise 9% in Q2 Hapag-Lloyd’s Liner Shipping segment generated revenue of US$5.68 billion in the second quarter, up from US$5.17 billion a year earlier. Transport volumes increased to 3.48 million TEU from 3.36 million TEU in Q2 2025. At the same time, the average freight rate rose 9% year on year. It reached US$1,475 per TEU, compared with US$1,354 per TEU in the previous-year quarter. Despite the stronger market, Liner Shipping EBITDA slipped to US$773 million from US$777 million. EBIT declined to US$153 million from US$167 million. Hapag-Lloyd attributed the pressure mainly to the blockage of the Strait of Hormuz. The disruption resulted in additional bunker, insurance, storage, service rerouting and inland transportation costs. Overall, the company estimated that Middle East disruption added around US$600 million in costs during Q2. Gemini network maintains strong reliability Hapag-Lloyd also highlighted the performance of the Gemini Cooperation network during the quarter. According to the carrier, the network remained resilient despite operational challenges and continued to outperform the wider market in schedule reliability. “Th