Hapag-Lloyd In 2011 First Quarter
In the traditionally weak first quarter Hapag-Lloyd managed to boost revenues by comparison with the same period of the previous year by 16.5 percent to 1.483 million euros. The main reason for this achievement was a ten percent rise to 1,563 USD/TEU in the average freight rate. Transport volume was two percent up on the 2010 first quarter at 1.2 million TEU. Active yield management enabled Hapag-Lloyd to concentrate successfully on profitable cargo, foregoing transports of inferior price quality.
Fuel Costs Pressure NOL Earnings
Neptune Orient Lines (NOL) reported a net profit of $187m for the first half of 2006, down 52% from the same period of 2005. The company posted a second quarter net profit of $67 million, 66% lower than in 2005. NOL Chairman Mr Cheng Wai Keung, said: “After record financial performances in the past three years, we are now in a more challenging business environment, which is reflected in reduced earnings for the first half of 2006. “Business conditions for both our liner and logistics segments have become more difficult. 1H 2006 total Group revenues rose slightly year-on-year to $3.52b, while the Group’s Core Earnings Before Gross Interest Expense, Tax and Non-Recurring Items (EBIT) of $227m was down 47% from the corresponding period of 2005.
