South Korea’s Hyundai Merchant (HMM) continued its run of red ink despite increasing container volumes, hit by low freight rates and higher bunker prices.
HMM’s year-on-year quarterly loss widened even as its cargo volume increased. The Korean liner’s revenue remained flat compared to the corresponding period of last year.
HMM posted a KRW 242.74bn ($215m) loss for the second quarter of 2018, compared to the KRW 173.72bn
