Hanjin Shipping Posts Q3 Profit Rise

10 November 2010 (Last Updated November 10th, 2010 18:30)

Hanjin Shipping's profit increased 33% during the third quarter of 2010 to KW231bn ($209m) compared with a profit of KW174bn ($155.9m) during the corresponding quarter in 2009. The South Korean shipping firm's operating income more than doubled to KW371bn ($332.5m) while its sales climbed

Hanjin Shipping’s profit increased 33% during the third quarter of 2010 to KW231bn ($209m) compared with a profit of KW174bn ($155.9m) during the corresponding quarter in 2009.

The South Korean shipping firm’s operating income more than doubled to KW371bn ($332.5m) while its sales climbed 17% to KW2.76tn ($2.47bn).

Hanjin’s cargo volume in the container division increased by 2.5% to 977,386teu.

In the bulk division, sales decreased by 3.9% to $346m despite a 10.8% increase in cargo volume.