Hanjin Shipping targets $6.5 billion revenue in 2006

Hanjin Shipping targets $6.5 billion revenue in 2006    Korean Hanjin Shipping has targeted revenue of $6.5 billion in 2006. The Seoul-based ocean carrier’s 2006 business plan also aims for an operating profit of $548 million and an annual transport volume of 3.28 million TEUs and 49 million tons of bulk cargo.
   “To achieve the 2006 business plan, Hanjin Shipping will strengthen core potentials by enhancing its fleet, lowering costs, improving profitability of container and bulk business and expanding new logistics business scope,” Hanjin said.
   “Investment in terminals, repair shipyards and 3PL (third-party logistics) businesses, vessels, equipments and IT infrastructure will be doubled up to reach $580 million,” Hanjin added.
   Hanjin also said it plans to improve its financial structure by lowering its debt to equity ratio to 121 percent.