Hanjin Shipping's operating performance for the 1st quarter 2008 is as follows ;
-
FY2008 Q1
FY2007 Q1
change
Revenue
(KRW in billions)
1,479
1,265
16.9%
Average Revenue per TEU
(USD/ TEU)
1,413
1,241
13.9%
Volume
(TEU)
846,731
929,943
-8.9%
TEU : Twenty-foot Equivalent Unit
Commentary
The container division’s revenue for the 1st quarter of 2008 recorded 16.9% increase year-on-year, due to the depreciation of KRW and 13.9% increase in average revenue per TEU. The transportation volume in the 1st quarter, 2008 showed 8.9% decrease, 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 938.67 for the 1st quarter, 2007, and 955.67 for the 1st quarter, 2008.
-
FY2007 Q4
FY2006 Q4
change
Revenue
(KRW in billions)
499.0
255.6
95.2%
Average Revenue per Ton
(USD/ R.Ton)
26.23
17.30
51.6%
Volume
(R.Ton)
9,283
9,733
-4.6%
Commentary
For the 1st quarter of 2008, the bulk division recorded a 95.2% increase in revenue compared to the same period last year. The main contributors to such boost were the average revenue per ton which increased 51.6% year-to-year, and the charter-out business that performed fairly well. Nonetheless, the transportation volume decreased 4.6% from the same period last year. The tanker market in particular, faced more difficulty, with decreasing demand and trade volume due to the ongoing international oil price hike.
The average exchange rate of KRW against USD was 938.67 for the 1st quarter, 2007, and 955.67 for the 1st quarter, 2008.
