Nedlloyd Posts Loss

Friday, May 12, 2000
Dutch shipping firm Koninklijke Nedlloyd Groep NV posted a first-quarter net loss of $15.4 million, but said it expected full-year results from ordinary activities to be "clearly positive." The shipping and road transport group, which holds a 50 percent stake in the P&O Nedlloyd joint venture with Britain's P&O, said its losses equaled those in the first quarter of 1999 and were largely due to strength in the U.S. dollar versus the euro.

P&O Nedlloyd reported a first quarter pre-tax loss of $29 million versus a $36 million loss a year ago. "The figures are slightly better than expected, and they foresee some operational profit in the second quarter, but they say that nearly every year. But the share price hasn't really reacted to the figures," a trader said.

"We are confirmed in our view from P&O Nedlloyd's expectations of a significant improvement of the results in 2000, including a positive second quarter at operating level," it added. On Tuesday, P&O Nedlloyd announced that Tim Harris had resigned as director and chief executive. P&O director Robert Woods was appointed group managing director.

Maritime Today


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

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

Ship Repair & Conversion

IRClass First to Certify Indian Recycling Yards per EU Standard

IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt.

Drydocks World Conforms to FPC under EU Regulation

Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors has successfully been certified to European Standards EN 1090 – 1 and EN 1090-2.

KR Boosts Operational Efficiency with Boxship Conversion

The Korean Register has announced that it has successfully completed a feasibility study for the conversion of an 8,600 teu containership into a 10,000 teu vessel.

Finance

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar 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: 0.0801 sec (12 req/sec)