South Korean carrier Hyundai Merchant Marine today reported an 18% year-on-year increase in first-quarter revenues on the back of an 11% increase in volumes, but recorded a loss.
Although HMM posted quarterly revenues of KRW1.31bn (US$1.1bn), after carrying 1,087,373 teu, compared with the 981,230 teu it carried in Q1 18, it posted a first-quarter loss of KRW105.7bn (US$88m).
But this compares with a KRW170.1bn loss in the same period last year.
The carrier …
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Source: The Loadstar