Hanjin Shipping returned to profitability in the second quarter as its container volume jumped 16.7 percent and freight rates rose.
The South Korean carrier posted net profit of $146 million, compared with a $325 million loss a year ago as total sales rose 20.7 percent to $1.67 billion. Container revenue increased 23.2 percent to $1.67 billion and bulk revenue rose 10.1 percent to $360 million.
But the carrier said it is “concerned that the uncertainty will remain in the market due to the scheduled delivery of mega-sized vessels.”