Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Continuing a trend among container lines South
Korea’s HMM reported record profits for 2022, but the fourth quarter saw a
sharp fall off.
HMM reported an annual operating
profit of KRW9.95trn ($7.79bn) for 2022 up 34.8% on the previous year. Revenues rose 34.7% to KRW18.59bn in
2022, while operating
margins remained the same between 2022 and 2021 at 53.5%.
However, the fourth quarter of 2022
showed a different story with operating profit standing at KRW1.26trn, down
53.4% year-on-year, and 51.6% lower than Q3 2022.
“The freight rates in most key trade lanes
have been under downward pressure since H1 2022, led by a slowdown in demand
and the ease of supply chain strain,” HMM
said.
Looking ahead the South Korean
company said: “Unfavorable market conditions are expected to continue due to
widespread inflation and weak economic growth, putting pressure on demand.”
