KOREA's Hyundai Merchant Marine (HMM) posted a first quarter net loss of KRW175.8 billion (US$162.3
million), increasing the deficit from the KRW735.2 billion loss in the
same quarter a year ago.
Quarterly revenue also fell 14.6 per
cent year on year to KRW1.11 trillion, which was blamed on excess supply, low
freight rates and high fuel costs, reported Yonhap new agency.
Despite widening losses Korea's
biggest carrier confirmed an order for 20 new containerships, 12 of more than
20,000 TEU and eight 14,000-TEUers, as part of the company's plan to grow the
fleet to one million TEU.
HMM said that its massive ship
building programme will allow it to take advantage of increased economies of
scale, as well as to meet looming environmental regulations set to come into
effect in 2020.
According to a separate regulatory
filing, HMM also plans to purchase the remaining stake it does not already own
in a container terminal at the Port of Busan along with Singapore-based
terminal operator PSA International.
Source : HKSG.
Tidak ada komentar:
Posting Komentar