Struggling South Korean owner and operator Korea Line reported a massive Won593bn ($512.9m) loss for 2009.
The company, which has been involved in a large number of legal cases relating dry bulk charters as freight plunged from record highs to record lows, saw its revenues plunge to Won2.3trn compared to Won3.3trn  a year earlier.
In 2008 Korea Line reported a Won367.8bn profit.