Heung-A Shipping Records 40 Percent Drop in Operating Income
Even with a 6 percent increase in sales this year, South Korean chemical tanker and container shipper Heung-A Shipping recorded a 39.7 percent drop in operating income, from 34.1 billion to 20.6 billion KRW. In an exchange filing today, the firm attributes the drop in income to lower overall unit price of shipping however, they note their company’s sales continues to grow.
The company’s net income for the year grew 5 percent to 17.1 billion KRW.
Last week the firm ordered 4 new chemical tankers to be built.
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