Hanjin Shipping experienced a setback in the container sector in 2011
Container shipping business of South Korea’s Hanjin Shipping company slid into the red in 2011
The container shipping business of the South Korean shipping company Hanjin Shipping reports an operating loss for fiscal year 2011. The management attributes the loss of USD 487 million to the overcapacity and price competition in the global liner shipping industry. In 2010, the container division of the company generated more than USD 500 million in profit. Revenue decreased from 2010 to 2011 by 2.6 per cent. The transported volume increased by 12.6 per cent to 4.17 million TEU.
In the current year, the managers of Hanjin Shipping expect stable business despite the continuing tense situation in the liner sector, caused by the commissioning of several new large container ships. What all market participants have in common is their desire for the introduction and implementation of measures to improve the profitability of the services, the managers estimate.
Quelle: LogEastics
Portal: www.logistik-express.com