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 Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


R-22 Phase-out Presents Dangers and Expense -WSS

The shipping industry is facing price, supply and safety risks in the run-up to the global ban on R-22 (chlorodifluoromethane or HCFC) refrigerant, warns Wilhelmsen Ships Service,

U.S. Ups Philippines Aid as South China Sea Turmoil Builds

The United States has raised its military aid to the Philippines this year to $79 million, the U.S. ambassador said on Wednesday, as tension rises in the region

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0564 sec (18 req/sec)