[Alpha Biz=(Chicago) Reporter Kim Jisun] HMM announced on the 10th that sales in the third quarter of 2023 were 2.126 trillion won and operating profit was 75.8 billion won. Sales fell 58% and operating profit 97% compared to the same period last year.

The year-on-year drop in sales and operating profit is the result of the weak market, with shipping fares falling after the COVID-19 boom.

However, the operating profit ratio in the third quarter was 3.6%, the highest compared to global shipping companies. In fact, Denmark's Musk, the world's second-largest global shipping company, turned to a deficit with an operating loss in the third quarter, while Japan's ONE, the world's sixth-largest company, posted an operating profit ratio of 1.6% in the third quarter.

 

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