P&O Nedlloyd Announces First Quarter Results

Wednesday, May 08, 2002
P&O Nedlloyd made an operating loss for the quarter, traditionally the weakest of the year, of $68 million which compares with an operating profit of $31 million in Q1 2001; volumes were 9 per cent higher than in Q1 2001; average revenue rates were 17 per cent down on the same period last year; cost saving programmes have already contributed significantly to the reduction in unit costs compared to Q1 2001 and the new $350 million savings programme is on track to make a further impact later this year and in 2003; there are early signs that the reduction in revenues rates has bottomed out but pressure from industry over capacity will remain.

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

Baltic Index Up On Higher Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday helped by an increase in demand for capesize vessels.

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Asian Traders Unload Floating Gasoline as Market Flips

Gasoline shifted from tankers to landed storage or sold off; forward gasoline prices to flip to backwardation from July. The number of tankers storing gasoline

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.0969 sec (10 req/sec)