Hanjin’s first half profit slumps 56%
Despite moving an extra 17.6 percent worth of container traffic in the first half of this year, Korea’s Hanjin Shipping’s net income dropped 55.6 percent to Won94.8 billion ($98.6 million), from Won213.6 billion in the same period 2005.
After six months, the Seoul-based carrier moved 1.6 million TEUs, compared to 1.36 million last year.
Hanjin’s operating income dropped 81.2 percent to Won53.1 billion ($55.4 million), compared to Won282 billion in the first half 2005. Revenue was up just 0.8 percent to Won2.92 trillion ($3 billion).