Hanjin scores third quarter profit

Hanjin scores third quarter profit    Hanjin Shipping said Thursday its container division recorded third quarter operating profit of $323 million, compared to a $177 million operating loss in the corresponding period in 2009.
   Revenue for the container line surged 73.6 percent in the quarter to $1.9 billion, on container volume that increased 6.9 percent to 977,386 TEUs.
   'Despite continued uncertainty in the world economy, we were able to return to black compared with the same period last year due to inventory restoration in the U.S. and Europe, increased cargo transport volume during annual peak season and various cost cutting measures,' Hanjin said in a statement. 'However, these gains are merely recovering some of the larger operating losses of 2009.'
   Hanjin said its increased revenue was driven by rate restoration and peak season surcharges on the Asia/Europe and transpacific trades.