The South Korean shipower posted a loss of KRW 200bn ($195m) against a loss of KRW 80bn in the corresponding period last year.

Revenue for the three months declined 14% to KRW 2.5 trillion, but the company returned to an operating profit of KRW 29bn.

Hanjin said the weak quarterly figures were due to foreign currency losses and less revenue from the disposal of older tonnage.

“The