News / Korean feeder lines wallow in profits as KMTC records 91% revenue boost

KMTC Dubai Credit KMTC Line.

Korea Marine Transport Co (KMTC Line) remains the top-earning South Korean feeder operator, recording a 91% year-on-year boost in revenue.

All 12 privately owned South Korean feeder operators have released their 2021 results, as required by law for companies with assets exceeding KRW12bn ($9.6m).

Last year, KMTC Line reported revenue of $3.02bn, up 91% year on year, while net profits soared nine-fold to $1.22bn. Income from shipping operations nearly doubled on 2020, to $2.6bn.

The company has been profitable every year since 1985 ...