NOL Records 4th Consecutive Annual Loss
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