The South Korean shipping firm is looking forward to emerging to the black in the next quarter through active freight increase efforts such as early application of peak season surcharge and cost reduction.
Net loss for the first quarter of 2012 widened to KRW338.4bn ($295.07m) from KRW14036bn in the same period a year ago. Revenue inched down to KRW2.26trn from KRW2.28trn.
“The container business unit has rolled out plans to ensure positive turnaround by launching new routes, adapting early peak season surcharge in addition to other freight rate increase efforts, and lowering operating costs through deployment of low cost mega vessels, and container transport volume as well as freight rates are on the increase since March,” Hanjin Shipping said.
“As for the bulk business, factors such as seasonal rebound in the Chinese iron ore industry, greater demand for coal to power the approaching summer's electricity supply and southern hemisphere's harvest season are expected to bolster the cargo volume compared to first quarter.”