NOL Returns To Black, Sees Brighter 2000

Monday, March 27, 2000
Neptune Orient Lines (NOL) returned to the black in 1999 after suffering losses the previous two years, and top company officials said the shipping group expects to sustain its profits in 2000.

For the year ended Dec. 31, 1999, the company reported a net profit of $92.8 million, compared to a net loss of $246.3 million in 1998. Turnover grew 12 percent to $4.2 billion, largely due to improved operations.

NOL officials expect first-half 2000 performance to be better than second-half 1999, and 2000 earnings to be in line with last year's. Future growth will be generated mainly from the company's logistics operations, which accounted for nine percent of NOL's sales last year. Chartering accounted for 77 percent of total sales in 1999.

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

Contracts

TOTE Finalizes Charter for LNG Containerships

World’s first LNG powered containerships to serve Puerto Rico TOTE, Inc. announced an agreement today between its operating companies TOTE Shipholdings Inc.

Ahrenkiel Steamship Consolidates Entire Fleet at DNV GL

Ahrenkiel Steamship, the newly formed German ship management company, will consolidate its entire fleet at DNV GL. Nick Topham managing director of Ahrenkiel Steamship and Tor E.

Frontline & TI form new VLCC Company

Frontline Management (Bermuda) Ltd. and Tankers International LLC (TI) today announced the formation of a new company, VLCC Chartering Ltd ('the Company').

Finance

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

Vallianz Acquires OER Holdings for $28m

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte.

DryShips: Public Offering of Its Senior Secured Notes

DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.1730 sec (6 req/sec)