Hapag-Lloyd expects freight rates and volumes to remain firm this year, but will cull charter capacity and newbuilding projects if it needs to.

Chief executive Rolf Habben Jansen said the coming months are subject to significant uncertainty because of the outlook over coronavirus.

But unlike AP Moller-Maersk — which has halted earnings forecasts — the German liner operator produced an Ebitda forecast ranging from €1.7bn