The net figure compares to a deficit of $415.7m in 2012.

Revenue was $2.45bn last year, against $4.81bn, withoperating losses running at $206.7m from $187.24m in the previous 12 months.

The figures were unveiled in a mandatory statement to theKorea stock exchange because the result had changed by more than 15%.

It blamed the loss on “marine claim expense” and lower revenue from reduced cargo volumes.

The