NOL Expects Overall Profit For Year

Wednesday, September 22, 1999
Neptune Orient Lines Ltd. (NOL) expects a better second half and overall profit in the current year. NOL said the bottoming out of the Asian economic crisis had resulted in higher cargo volumes in most sectors. Freight rates out of Asia to Europe and North America had also increased since mid-year, it said in comments accompanying its result. NOL reported an interim net profit, the first time in two years, but results were disappointing as gains came mostly from non-recurring items. The national shipping giant reported a net profit of S$10.02 million for the six months ended June 30, 1999 against a net loss of S$240.76 million a year earlier. While rates for Asia inbound containers have weakened, rates for NOL's two major trade routes were expected to firm. Asia to North America saw rates firm by $500 per teu from May while Asia to Europe rose by $75 per teu from April.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Crowley Ships Massive Electrical Equipment

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico.

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1369 sec (7 req/sec)