HANJIN Shipping said its third-quarter profit rose 2.3 per cent, its first rise in three quarters. The company said it had benefited from increased trade between China, the US and Europe.

The company's net income rose to KRW176 billion (US$168 million) in the three-month period ending September 30, from KRW172 billion a year earlier. A stronger won however cut the company's sales by 5.7 per cent to KRW1.5 trillion.

Reports say Hanjin, Hutchison Whampoa Ltd and other logistics companies are benefiting from an increase in cargo to the US and Europe from Asia.

Shipping lines are boosting volumes, improving efficiency and forging alliances to counter the impact of higher fuel prices and port fees.

Hanjin's operating profit fell 43 per cent to KRW145 billion, however.