Hyundai Merchant Marine (HMM) has trimmed the red ink in the second quarter on the back of cost cutting efforts and increased sales.
The South Korean shipowner lost KRW 200.7bn ($165m) in the April – June 2019 period versus a loss of KRW 242.7bn 12 months ago.
For the year-to-date HMM posted a net loss of KRW 379.1bn, versus the KRW 418.4bn loss seen in the first six months of 2018.
HMM said it expects to face a tough second half to the year due to the ongoing US-China trade war, while rising fuel costs were also said to be a concern.
