HMM Returns to Black for First Time in Five Years – gCaptain
By Mike Wackett (The Loadstar) – South Korean ocean carrier HMM has posted its first annual profit for five years, despite a decrease in its liftings. Revenue last year surged by 16.3%, compared with 2019, to $5.43bn, earned from a 9.2% decline in its container volume to 3.89m teu. Net profit came in at $105m, in comparison with a loss of $500m the year before. HMM moved back into the black in the fourth quarter, recording a net profit $137m, after 15 consecutive loss-making quarters and racking up some $3.5bn of red ink. The carrier attributed its return to profitability to inc...
Source: gcaptain.com