May.3--Hanjin Shipping cut its loss in the first quarter of 2013 to 34.7 billion won (approximately US$300 million), an 89.7 percent improvement year-over-year.

Container volume grew 9.3 percent, to 1,109,285 20-foot-equivalent units. This resulted in a 14.1 percent year-over-year increase in revenue for the segment to $1.9 billion.

Looking ahead, the shipping line said that it expects a gradual reduction in the imbalance between supply and demand despite deliveries of mega-ships and thus an increase in profitability, helped by the peak season and the stabilization of oil prices.

(Source:JOC)