News / HMM finally sails into the black after 21 quarters, but half-year is still red

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After 21 consecutive quarters of negative results, HMM has finally moved into the black.

The carrier posted a net profit of $23m for Q2 20, compared with a loss of $54m for the same period of 2019.

The South Korean carrier has racked up billions of dollars in losses in the past five years as it struggled to restructure its liner business after being on the verge of bankruptcy in 2016 – the year that saw the demise of its larger compatriot, ...