Hanjin Shipping Co., South Korea's second-largest shipper, said Friday its third-quarter net profit tumbled 81.6 percent from a year ago due to the won's gain against the U.S. dollar and high fuel costs.Net profit came to 32.5 billion won (US$34.8 million) in the three months to Sept. 30, compared with 176.3 billion won the previous year, the company said in a regulatory filing.Sales gained 5.6 percent to 1.6 trillion won, but operating profit plummeted 70.4 percent to 43.1 billion won from a year earlier, the company said.Hanjin Shipping's shares closed at 25,250 won, down 1.75 percent, on the Seoul bourse. The results were released after the market closed."Third-quarter operating income soared 94.1 percent from the previous quarter thanks to increased shipping charges," the company said in the statement. "Compared with the previous year, however, the won's appreciation, increased fuel costs and a fall in container shipping charges eroded profits."
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