HMM has become the latest major liner operator to post a substantial increase in full-year results.

The South Korean shipowner said on Monday that it had made a net profit of KRW 5.33trn ($4.4bn) — a 40-fold year-on-year increase — while operating profit of KRW 7.3trn was a sevenfold increase on the KRW 981bn 12 months earlier.