Hanjin Shipping's operating performance for the 1st half 2008 is as follows ;
-
FY2008 H1
FY2007 H1
Change
Sales
(KRW in billions)
32,185
26,752
20.3%
Average Revenue per TEU
(USD/ TEU)
1,419
1,255
13.0%
Volume
(TEU)
1,762,258
1,838,051
-4.1%
TEU : Twenty-foot Equivalent Unit
Commentary
The container division’s sales for the 1st half of 2008 recorded 20.3% increase year-on-year, due to the depreciation of KRW and 13% increase in average revenue per TEU.
The transportation volume in the 1st half, 2008 showed a drop of 4.1%, influenced by the reduction of trade volume mainly caused by the recession in the U.S. The average exchange rate of KRW against USD was 934 for the 1st half, 2007, and 986.67 for the 1st half, 2008.
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FY2008 H1
FY2007 H1
Change
Sales
(KRW in billions)
10,228
5,183
97.3%
Average Revenue per Ton
(USD/ R.Ton)
25.81
18.20
41.8%
Volume
(R.Ton)
17,788
18,407
-3.4%
Commentary
For the 1st half of 2008, the bulk division recorded a 97.3% increase in revenue compared to the same period last year. The main contributors to such boost were the average revenue per ton which increased 41.8% year-to-year, and the charterout business that performed fairly well.
The transportation volume decreased 3.4% from the same period last year. Nonetheless, Dry bulk market remained strong due to the increasing volume of ironore(inbound to china), coal(outbound from North America) and grain(outbound from south America).
The average exchange rate of KRW against USD was 934 for the 1st half, 2007, and 986.67 for the 1st half, 2008.
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