Container

Low freight rates knock ailing Hanjin into the red

Korean container carrier Hanjin Shipping dipped into the red in the second quarter 2016. Low freight rates hit the carrier hard and at a time when Hanjin is already struggling to get its enormous debt under control.
Photo: Hanjin
Photo: Hanjin
BY DANIEL LOGAN BERG-MUNCH

Hanjin Shipping, South Korea's largest shipping group, completed the second quarter of the year with a big loss compared to a positive result in the same period last year. The red bottom line is just another problem in the long line of challenges facing the company, which is currently in the midst of a critical restructuring process.

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