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Tuesday, August 14, 2018

NOL Records 4th Consecutive Annual Loss

Maritime Activity Reports, Inc.

February 13, 2015

Singapore's Neptune Orient Lines Ltd slipped into the fourth straight year of losses in 2014, though the fourth-quarter net loss narrowed from a year earlier, the company said on Friday.

The shipping and logistics company reported a net loss of $259.8 million for the year, compared with a loss of $76.3 million in 2013 and a mean forecast of $191.3 million loss, based on a Reuters poll of 15 analysts.

Its fourth-quarter net loss stood at $85.1 million, down 38 percent from a year earlier, the company said in a statement.

"More port congestion, resulting from further deterioration in the labour situation on the US West Coast, is a potential risk factor," NOL said.


Reporting by Rujun Shen

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