Germany’s Hapag-Lloyd has emerged as another bellwether for the liner industry after reporting a four-fold increase in earnings in 2021.

The world’s fifth-largest liner operator raked in Ebitda of $12.8bn last year, according to preliminary figures released today.

That is massively up from with $3.1bn in 2020 and hits the top end of what the company had forecast on 29 October.