P&O: Economic Slump To Affect Future Revenues

Thursday, August 16, 2001
P&O Nedlloyd said on Thursday that global economic slowdown was expected to affect future revenues, as the container shipping group posted a slight rise in second quarter operating profit. P&O Nedlloyd - a joint venture between Peninsular & Oriental Steam Navigation Company Plc (P&O) and Koninklijke Nedlloyd Groep - said operating profit for the quarter rose to $46 million from $44 million a year ago. Overall volumes rose four percent from last year, but the average revenue rate fell four percent. "Slower growth in world trade and new capacity entering the market are expected to adversely impact future load factors and revenue," the group said in a statement.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

FedEx Completes Takeover of TNT Express

US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately.   The

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0565 sec (18 req/sec)