Hanjin, APL and OOCL see red in H1 09

摘要

Asian-based ocean carriers Hanjin Shipping Co, OOCL and Neptune Orient Lines (NOL) all saw their H1 09 financial results take a battering from the global financial downturn.rnSouth Korean-headquartered Hanjin reported a net loss of USD516 million, Singapore's NOL a deficit of USD391 million and Hong Kong's Orient Overseas (International) Ltd (OOIL), which owns OOCL, a loss of USD232 million for the period (see table). Drilling down into the container sectors of the companies, Hanjin recorded revenue of USD2 billion, a drop of 23.9% compared to H1 08, and an operating loss (EBIT - earnings before interest and tax) of USD342 million. This led to a negative return on sales (RoS) of 17%, compared to a positive 1.6% in H1 08 (see table).