NOL Group Third Quarter Net Profits Up

Wednesday, October 31, 2007
Global container shipping and logistics group Neptune Orient Lines (NOL) today reported a net profit for the third quarter of 2007 of $191m, 50% higher than for the same period in 2006. The Group’s EBIT for 3Q was $209m, 115% higher than in the third quarter of 2006. For the first three quarters of 2007, the company reported net profits of $327m (up 4%) and EBIT of $385m (up 17%). Revenue for the year-to-date was up 9% to $5.7b, and by 15% quarter-on-quarter. In NOL’s container shipping business, APL, revenue rose 11% year-to-date, and 19% on a quarter-on-quarter basis. Third quarter average revenue per FEU was 9% higher quarter-on-quarter. Freight rates generally continued to move in a positive direction, with the benefit of several successful rate restoration programs in recent months in key trade lanes. APL carried 1.7 million FEU (forty-foot equivalent unit) year-to-date, which was 11% more cargo than the same period last year. The volume increase was driven mainly by the Transpacific and Intra-Asia trade lanes. APL’s overall headhaul utilisation averaged 99% during 3Q07. NOL’s logistics business, APL Logistics, reported a 2% improvement in revenue quarter-on-quarter. Year-to-date, sales were down 1%.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Oil Soars in Biggest One-day Rally in Years

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies

Odfjell Reports Best Quarter Since 2008

In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million.

ASRY 2015 Strategy Combats Challenging Market

Up to May 2015, ASRY (Arab Shipbuilding & Repair Yard), was seeing encouraging results from it’s 2015 strategy to combat the widespread challenges facing the maritime repair market,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators 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: 0.2308 sec (4 req/sec)