Hanjin plans for another record year
Having recorded a large increase in profits for 2004, Seoul-based Hanjin Shipping said it expects to make an operating profit of $690 million this year, while shipping 2.87 million TEUs of containers and 46.9 million tons of bulk cargoes.
As part of the carrier’s 2005 business plan, announced today, the Korean shipping line is also looking to record $5.6 billion in revenue for this year.
Hanjin Shipping said it will invest about $280 million over the coming year on vessels, port and terminal facilities and information technology infrastructure. It will also aim to lower the debt-to-equity ratio to 141 percent.