Hanjin Shipping announced 2010 third-quarter business results with total sales of US$2.327 billion, operating profit of US$314 million and net profit of US$196 million.
Hanjin Shipping explained, “Despite continued uncertainty in the world economy, we were able to return to black compared with the same period last year due to inventory restoration in the US and Europe, increased cargo transport volume during annual peak season and various cost-cutting measures. However, these gains are merely recovering some of the larger operating losses of 2009.”
As a result of cargo volume increases in major trades, the container division saw a 2.5% upturn in cargo volume to 977,386TEU quarter-on-quarter. Total sales also experienced a 18.6% rise up to US$1,981 million and operating profit was up 156.3% with US$323-million quarter-on-quarter driven by the rate restoration of Asia-Europe and Transpacific trade and peak season surcharges.