The South Korean carrier Hyundai Merchant Marine closed its last three months with its highest quarterly profit ever. Revenues increased 130% compared to the same period in 2020 and 40% compared to the second quarter. Overall, their net income was $2 billion.
As a result, the company has been able to climb back up the slope into which it had slid down in the dramatic 2020, moving from the accumulated loss of $10 million recorded in the first nine months of the pandemic year to a net profit of $2.34 billion between January and September 2021.
According to the company, quarterly financial performance reached a record high in the third quarter of 2021, primarily due to higher freight rates and the efficiency of the fleet, which includes twelve 24,000-TEU containerships.
Translation by Giles Foster