Receive our newsletter – data, insights and analysis delivered to you
February 7, 2010

Hanjin Shipping Reports Post Demerger Losses

South Korea's Hanjin Shipping has posted a loss of $26m on revenue of $573m for last December, which was its first full month of operation post its demerger. In January, Hanjin’s parent company split into two separate companies - one into a holding company, Hanjin Shipping Holdings, and

By cms admin

South Korea’s Hanjin Shipping has posted a loss of $26m on revenue of $573m for last December, which was its first full month of operation post its demerger.

In January, Hanjin’s parent company split into two separate companies – one into a holding company, Hanjin Shipping Holdings, and second an operating company, Hanjin Shipping.

In 2009 the company suffered a loss of $1.09bn from its shipping operations, compared to a profit of $323m in 2008.

For quarter-to-quarter basis, it reported a loss of $239m in the fourth quarter ending December, compared to a loss of $339m in the third quarter ending September 2009.

Hanjin Shipping says it expects sales to improve this year as a result of a rise in container traffic due to gradual economic recovery in the US and Europe.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU