STX PAN OCEAN CO. , South Korea's biggest bulk shipping line, said Wednesday its net profit jumped in 2008 on higher shipping rates and diversified business lines. Net profit amounted to 578 billion won (US$410 million) last year, compared with 393 billion won a year earlier, the company said in a regulatory filing.
* Sales rose 70 per cent to 8.27 trillion won, and operating income surged 60 per cent to 745 billion won, it said.
* STX Pan Ocean's domestic rivals also reported better-than-expected results last year, HANJIN SHIPPING CO. (KSE:000700), the nation's largest shipping line, said last week its net income more than doubled to 321 billion won last year.
* Sales rose 70 per cent to 8.27 trillion won, and operating income surged 60 per cent to 745 billion won, it said.
* STX Pan Ocean's domestic rivals also reported better-than-expected results last year, HANJIN SHIPPING CO. (KSE:000700), the nation's largest shipping line, said last week its net income more than doubled to 321 billion won last year.