Better returns from the container sector helped South Korean Hanjin Shipping narrow its losses in the third quarter to Won47.3 billion (US%43.2 million) compared with a deficit of Won85 billion ($77.7 million) in the same three months of 2011.
Moreover, the result came after the Seoul-listed conglomerate suffered Won77.8 billion of foreign exchange losses due to the strength of the currency against the US dollar.
Hanjin recorded a 2.2% quarter-on-quarter increase in its liftings to 1.2 million teu, matched by a 5% gain in revenue.
In a statement, Hanjin Shipping said: "In the container sector, demand and supply balance in the transpacific market will be sustained till the end of the year as the fourth-quarter holiday shopping season approaches, along with further rate restoration expected in 2013, due to continued volume increase driven by US economic growth mainly from the housing market recovery.
"In the Asia-Europe routes, container freight rates are expected to stabilise gradually as carriers continue in eco-steaming, idling, service rationalisation and rate restoration."
Nevertheless, Hanjin Shipping remains heavily leveraged with a debt-to-equity ratio of 552% as at the end of September.
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