• ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

Hanjin’s net income down 25% in 2005

Hanjin’s net income down 25% in 2005

   Seoul-based Hanjin Shipping cited a more than 10 percent appreciation of the Korean won against the U.S. dollar as a driver to its 25.2 percent decrease in its 2005 net income to Won482.8 billion ($497 million).

   In 2004, Hanjin’s net income was Won645.7 billion ($665 million).

   The Korean container and bulk shipping company’s annual operating income dropped 30.1 percent to Won572.8 billion ($589 million), from Won819.8 billion in 2004. The company blamed the operating income decline on a rise in bunker purchasing price and continuing weakness in the U.S. dollar.

   Hanjin’s 2005 revenue dropped 3.6 percent to Won5.98 trillion from Won6.20 trillion a year earlier, although the company’s revenue in U.S. dollars increased 7.4 percent to $5.8 billion from $5.4 billion in 2004.

   The Korean carrier said it transported 2.85 million TEUs last year, up 6.1 percent from 2.68 million TEUs in 2004.