Hanjin Shipping incurs in a quarterly net loss of 97 million dollars



The South Korean shipowning society Hanjin Shipping, against an increment of 16.9% of the revenues gone up from 1.683 million dollars to 1.967 million dollars, has archived item the first trimester of this year with a net loss of 97 million dollars respect to a net loss of 111 million dollars in the first three months of 2010. The operating result has been negative for 11 million dollars respect to a result negative for six million dollars in the first trimester last year.

In the field of the containerized transport the company has totaled revenues for 1.613 million dollars, with an increase of 19.0% regarding 1.356 million dollars in the first trimester of 2010, and operating liabilities of 28 million dollars respect to operating liabilities of 23 million dollars in the correspondent period last year.

In the first three months of the 2011 fleet of portacontainer of Hanjin Shipping container has transported cargos for a volume 945.301 pairs to teu, with an increase of 15.6% regarding 817.639 teu in the first three months of 2010. The company has explained that the operating result in the section of the container has been negative although the fort increment of the transported volumes, with a +22.7% of transpacifiche shipments westbound, a +23.3% of the Asia-Europe shipments in both the directions and a +39.1% of the traffics intra-asiati us, and that such deterioration has had to the decrease of the hires of the Asia-Europe traffics in concomitanza with an increase of the ability and the costs of the fuel and the logistics.

The division that work bulk transport has recorded revenues for 354 million dollars, in increase of 8.3% on 327 million dollars in the first trimester of 2010, and an operating profit of 17 million dollars respect to an identical operating profit in the first trimester last year. The division has recorded an increase of 26.2% of the transported volumes.

Hanjin Shipping is not soverchiamente optimistic about the course of the market in according to trimester of this year: "in spite of the gradual resumption of the total economy and the increase of the question that happens in sight of the peak season - it has explained the company - we are worried for the negative impact of the slow resumption of the real estate market and for the elevated rate unemployment in the United States, for the increase of the ability on the traffics East-West and for the excursion of the price of the oil. With regard to this, we will concentrate on the maintenance of the profit optimizing our lines through several measures of cost reduction. For that it regards the market of the bulk, the increase of the ability and the contraction of the main world-wide economies determined from the increasing cost of the raw materials can be translate in a weakening of the hires; however other factors are some that can have positive effects on the market, between which the continuous demand for cereals for South America and the increasing coal imports of China".