Subsidised South Korean ocean carrier Hyundai Merchant Marine (HMM) continued to bleed money in the final quarter of 2018, to end the year some Won808bn ($720m) in the red.
It attributed the loss, which follows a $1.1bn deficit the previous year, to increased fuel costs, the Iran sanctions and “delay in rate recovery”.
HMM transported 4.46m teu in the 12 months, which was 10.6% higher than the year before, as it stepped …
The post HMM ends 2018 $720m in the red, but has high hopes for new ships and alliances appeared first on The Loadstar.
Source: The Loadstar
Be the first to comment on "HMM ends 2018 $720m in the red, but has high hopes for new ships and alliances"