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Struggling Korea Line reports half billion dollar loss

Struggling Korea Line reports half billion dollar loss

Seoul: Struggling South Korean owner and operator Korea Line reported a massive Won593bn ($512.9m) loss for 2009.
The company, which has been involved in a large number of legal cases relating dry bulk charters as freight plunged from record highs to record lows, saw its revenues plunge to Won2.3trn compared to Won3.3trn  a year earlier.
In 2008 Korea Line reported a Won367.8bn profit.  [12/02/10]

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