Covid-19 dashes HMM’s profit hopes

HMM’s hopes of restoring profitability have been dashed by the Covid-19 pandemic, despite efforts and capacity and rate discipline.

The South Korean liner operator reported a net loss of KRW65.6 billion (US$53.64 million) on revenue of KRW1.31 trillion (US$107.11 billion), although its bottom line was improved from the KRW178.46 billion (US$157.1 million) loss on revenue of KRW1.32 trillion (US$1.16 billion) in Q1 2019.

Container shipping accounts for nearly 90% of HMM’s revenue, and HMM...

https://container-news.com/covid-19-dashes-hmms-profit-hopes/

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