Hanjin loses $209 million in 1Q

Asia

Friday, May 11, 2012

The container shipping division of liner carrier Hanjin Shipping slumped to a $209 million operating loss in the first quarter of 2012, a huge drop from the $28.3 million it lost in the same quarter in 2011. Hanjin’s liner revenue fell 0.3 percent year-on-year in the quarter to $1.6 billion, despite container volume rising 7.4 percent to just more than 1 million TEUs. Hanjin’s group figures were slightly better, thanks to profitable performances from its bulk division...

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