Subscribe to RSS feedDipping into the red – Hanjin posts big loss
by
Hui Chinghoo, Hong Kong
—
last modified
Feb 15, 2010 10:06 AM
SOUTH Korean line Hanjin Shipping plunged into the red last year with a loss of US$1.1bn, down from a net profit of US$323m in 2008.
This is the first annual result for Hanjin Shipping after the company spun off its subsidiary businesses under the aegis of Hanjin Shipping Holdings last November.
Sales fell 34.5% to US$5.6bn in 2009 compared with US$8.6bn a year earlier, while...
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