HMM cuts 2018 loss to $719m as revenue grows

Korean shipowner Hyundai Merchant Marine (HMM) has reduced losses in 2018 as revenue rose.

The net deficit came in at KRW 808bn ($719m) last year, down from KRW 1.19 trillion in 2017, according to the Yonhap news agency.

HMM said its revenue from boxships, tankers and bulkers grew to KRW 5.22 trillion, up 4% year-on-year.

But the operating loss was bigger at KRW 576.5bn