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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant.

Statoil: COSL Pioneer Temporarily Suspended

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0970 sec (10 req/sec)