Hanjin in the red

Hanjin Shipping, South Korea's biggest container carrier by sales, posted a net loss in the first quarter, though narrower than a year earlier, as a substantial rise in bunker prices combined with declining European freight rates cut into profitability. Hanjin Shipping's net losses narrowed to US$99.7 million for the three months ended March 31 from $116.99 million a year earlier. Sales rose 14 percent to $2.03 billion from $1.77 billion.
(Source:http://www.seatrade-asia.com)