Restructured Korean owner Hyundai Merchant Marine (HMM) has posted a huge loss for 2017 after selling 10 ships to a state-backed fund.
The liner company said the net deficit last year was KRW 1.2 trillion ($1.1bn), against KRW 484m in 2016.
A large part of the 2017 figure - KRW 479.5bn - came from a book loss on the value of the vessels sold to, and leased back from, Korea Shipping and Maritime Transportation in March.
