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August 9, 2010

Hanjin Shipping Reports Q2 Profit

Hanjin Shipping Holding has posted a net profit of $146m in Q2 2010 compared with a loss of KRW$135bn ($115m) in the corresponding quarter a year earlier. The South Korean shipping company also posted an operating profit of $143m due to increased cargo volume and recovery of freight rates

By cms admin

Hanjin Shipping Holding has posted a net profit of $146m in Q2 2010 compared with a loss of KRW$135bn ($115m) in the corresponding quarter a year earlier.

The South Korean shipping company also posted an operating profit of $143m due to increased cargo volume and recovery of freight rates in major trades, Hanjin said.

The company said its sales increased to $2bn during the same period compared with $1.29bn in 2009, registering a rise of 56%.

Container volume rose by 16.7% to 953,917teu while bulk division sales increased by 10.1% to $360m.

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