Pan Ocean reported on the 31st that its operating profit for the second quarter of this year reached 123 billion won, a 9% decrease compared to the same period last year.
Revenue for the same period increased by 4.9% to 1.29 trillion won, while net profit rose by 12% to 122.8 billion won.
By institutional sector, the dry bulk sector recorded an operating profit of 53 billion won, a decrease of 37.9% compared to the previous year due to falling freight rates and worsening market conditions, while the tanker sector posted a profit of 16.4 billion won, down 57.1% during the same period.
In contrast, the container sector benefited from rising freight rates, yielding an operating profit of 15.3 billion won, up 104.6% compared to the same period, and the liquefied natural gas (LNG) transportation sector also recorded a profit of 37.2 billion won, a 494.4% increase. The increase in the LNG sector's operating profit was explained by the growth in the fleet from just 3 ships to 11.
Pan Ocean recorded an operating profit of 236.3 billion won and revenue of 2.68 trillion won in the first half of the year, marking increases of 1.3% and 21.6%, respectively, compared to the same period last year.
A representative from Pan Ocean noted, "Despite ongoing external uncertainties such as the strengthening of global protectionism and geopolitical risks, efficient fleet management and proactive responses to market changes are leading to improvements in revenue."