Hapag-Lloyd expects to earn billions of dollars less this year as it earnings gradually normalise.

The world’s fifth-largest liner operator expects Ebitda to fall between $4.3bn and $6.5bn this year — way down on the $20.5bn earned in 2022.

Ebit is expected to be $2.1bn to $4.3bn compared with $18.5bn last year.

The new guidance was issued today as the Hamburg-based company published its annual report on its 175th anniversary.