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 Today


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

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Baltic Index Falls on Weak Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday due to weaker rates across all segments, except handysizes.

As Market Sours, LPG Tankers Anchor off Singapore

Record U.S. LPG exports to Asia flip market into a glut. Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers.

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

Finance

Will UK Maritime Traffic Rise or Fall on Brexit?

UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar 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: 0.1063 sec (9 req/sec)