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HomeMaritime NewsRegionsAsiaHMM continues to post heavy losses

HMM continues to post heavy losses

HMM continues to post heavy losses
Seoul: South Korea's Hyundai Merchant Marine (HMM) continued to stay in the red after posting heavy losses in the first quarter ended 31 March 2012.

HMM reported a net loss of KRW200.8bn ($176.8m) in the first quarter compared to a net loss of KRW27bn in the same period a year ago.

The shipping firm, which owns a mixed fleet of containerships, dry bulk carriers, oil tankers and LNG tankers, has been struggling after it posted a 2011 net loss of KRW367bn, as against a net profit of KRW598bn in 2010.

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