NOL closes 2011 with a heavy loss of 478 million dollars



In the 2011 economic performance of Neptune Orient Lines (NOL) they have been approached those decidedly negative recorded by the shipowning and logistic group of Singapore in 2009, black year of the containerized marine transport. If the sign of the results last year is strongly negative, with losses that however have not reached the levels of 2009, 2011 have been archived item with analogous to those of the year precedence but very advanced revenues (+41%) regarding those totaled in difficult 2009.

Commenting today the achieved results last year, the managing director of the group, Ng Yat Chung, have asserted that "the performances of the marine transport of the container are disappointing. The excess of ability and the costs more elevated of the fuel - it has explained the CEO of the NOL - has negatively influenced the entire industry of the containerized marine transport. We are acting with urgency - it has emphasized - in order to place under control the costs and all the other factors to the aim to improve our results".

Last year the fleet of the APL, the company of the NOL that work the activity of containerized marine transport, Core business of the group of Singapore, has transported almost three million container from 40 ', with an increment of 7% on 2010 ( on 30 January 2012). The medium revenue for container has been however inferior of 10% regarding the year precedence.

In entire the 2011 revenues of group NOL they are piled to 9.211 million dollars, down of 2% regarding 9.422 million dollars in the year precedence. The single activity of the marine transport of the container has generated revenues for 7.910 million dollars, with a bending of 5% on 2010. In the logistic field, instead, the revenues are increased of 12% attesting itself to 1.405 million dollars.

In the 2011 group Core EBIT) of 377 million dollars has recorded operating liabilities ((respect to an operating profit of 557 million dollars in a 2010) and net loss of 478 million dollars (useful clearly of 461 million dollars in 2010). In the field of the line transport Core EBIT has been negative for 446 million dollars respect to a profit of 492 million dollars in 2010. Core EBIT of the logistic activities has been positive is in the 2011 that in 2010 respective for 69 million and 65 million dollars.

Last year the harbour terminals of the group of Singapore have totaled a traffic of the container pairs to 2.467.000 handlings (- 2% on 2010).

In the solo fourth trimester of the 2011 group has totaled a net loss of 320 million dollars on revenues for 2.403 million dollars respect to a profit clearly of 177 million dollars on revenues for 2.774 million dollars in the period October-December of 2010. Core EBIT has been negative for 277 million dollars respect to a positive result for 198 million dollars in the fourth trimester of 2010.

About the perspectives for the next months, NOL has found that the hire installments have shown recently increase signs, but that however continuous the world-wide economy to being characterized from a field and uncertainty phase of the containerized marine transport continues to having to tackle to high cost of the fuel and an excess of ability to the fleet. If such situation will last - it has explained the group - the economic performances continues to being little consisting.