Third consecutive trimester in red for group NOL



The shipowning group and logistic Neptune Orient Lines (NOL) of Singapore has closed the third consecutive trimester in red recording in the period July-september of this year a net loss of 91 million dollars on revenues for 2.213 million dollars respect to a profit clearly of 282 million dollars on revenues for 2.429 million dollars in the third trimester of 2010. The operating result has been negative for 72 million dollars respect to a profit of 319 million dollars in the period July-september last year.

In the first nine months of the 2011 group it has totaled a net loss of 158 million dollars on revenues for 6.808 million dollars respect to a profit clearly of 283 million dollars on revenues for 6.648 million dollars in the correspondent period last year. The operating result of the nine months has been negative for 100 million dollars respect to a profit of 359 million dollars in the period January-september of 2010.

"The industry of the marine transport of line - the managing director of NOL, Ng Yat Chung has commented today - is tackling to a slow down of the question, to an ability excess and to the costs of the remarkablly advanced fuel that are respect to a year makes. Our primary priority is to reduce the costs and to increase the efficiency".

In the field of the line transport, in which NOL work through branch APL, in the third trimester of this year the group, although has recorded an increment of 7% of the volumes transported from the APL fleet that has enlivened a traffic 699.000 pairs to container from 40 ' (feu), it has totaled a decrease of 12% of the revenues, attesting to 1.904 million dollars, and is incurred in operating liabilities of 88 million dollars respect to an operating profit of 301 million dollars in the third trimester of 2010. The medium revenue for feu is diminished of 19% attesting itself to 2.539 dollars and, meanwhile, the cost of the fuel has grown of 45%.

In the first nine months of this year the fleet of portacontainer of APL has transported 2.155.000 feu, with an increase of 8% on the same period of 2010. In the period January-september of the 2011 such activity has produced to operating liabilities of 149 million dollars on revenues for 5.868 million dollars respect to an operating profit of 314 million dollars on revenues for 5.857 million dollars in the first nine months last year. In the first nine months of the 2011 medium revenue for container feu it is diminished of 9% to 2.560 dollars.

The field of the logistics, in which the group of Singapore work through branch APL Logistics, it has archived item the third trimester of this year with an operating profit of 16 million dollars on the revenues for 333 million dollars respect to an operating profit of 18 million dollars on revenues for 302 million dollars in the same period of 2010. In the first nine months of the 2011 society January-september has recorded an operating profit of 49 million dollars on revenues for 1.015 million dollars respect to an operating profit of 45 million dollars on revenues for 880 million dollars in the period last year.

NOL has announced that, in consideration of the lacked improvement world-wide the economic scene, of the continuous reduction of the hires in the field of the containerized marine transport and the decrease of the question, the group previews to close the entire exercise anniversary 2011 in loss.