From American Shipper:

Hanjin Korean conglomerate Hanjin Shipping reported a net profit of $6 million in 2015 compared with a loss of $396 million in 2014.

The improved earnings came despite the fact that the company reported sales of just $6.86 billion, a 15.3 percent drop from the $8.1 billion recorded in 2014. The company attributed the drop in revenues primarily to lower freight rates.

The company’s container division had an operating profit of $119 million on sales of $6.3 billion in 2015 versus an operating profit of $137 million on sales of $7.4 billion in 2014.

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