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HomeMaritime NewsRegionsAsiaCurrency losses keep Hanjin in the red in Q3

Currency losses keep Hanjin in the red in Q3

Currency losses keep Hanjin in the red in Q3
Seoul: Hanjin Shipping remained in the red for the third quarter of 2012 with a $47.3m net loss.

The South Korean shipping company made an operating profit of KRW96.8bn ($85m) in the third quarter but the appreciation of the Korean Won against the US Dollar resulted in a foreign currency translation loss pushed it into the red at a bottomline level

The loss reported by Hanjin was, however, narrower than the third quarter of 2011 of $86m.

For the first nine months of 2012 Hanjin reported a loss of $386.9m compared to a $500.6m loss in the same period in 2011.

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