In the first trimester shipowning group NOL has totaled a net loss of 254 million dollars



The shipowning group and logistic Neptune Orient Lines (NOL) has closed the first trimester of this year with a net loss of 254 million dollars respect to a net loss of 10 million dollars in the first three months of 2011. The revenues are diminished of 2.7% attesting to 2.378 million dollars regarding 2.443 million dollars in the first trimester last year and the operating profit (Core EBIT) have been negative for -233 million dollars respect to an operating profit of 13 million dollars in the first three months of 2011.

The group of Singapore has explained that the results of the first three months of the 2012 quickly have the impact of the elevated cost of the fuel and the low level of the hires. NOL has specified that in the first trimester of this year the group has realized savings pairs to about 100 million dollars in the within of own program of control of the costs and that such savings are therefore online with those total ones for 500 million dollars previewed for entire 2012.

"In the first trimester - the managing director of the NOL, Ng Yat Chung has commented - they have been positive signs: in March the hires have recorded a rise and the activity in the logistic field has grown. However - it has specified - we must continue to maintain our operating costs under rigorous control and to optimize our organization for a greater efficiency".

The single division of the marine transport of line of group NOL, constituted from the company of navigation APL, last year has archived item the first trimester of the 2012 with an operating loss of 246 million dollars on revenues for 2.010 million dollars respect to an operating loss of 8 million dollars on revenues for 2.103 million dollars in the correspondent period.

In the first three months of the 2012 fleet of portacontainer of APL container from 40 has transported cargo volumes 791.000 pairs to ' (feu), with an increase of 4% regarding 764.000 feu in the first trimester of 2011. In particular, on the routes intra-Asians 349,000 feu (+9% are transported), on those transpacifiche 216,000 feu (- 5%), on the routes for Latin America 54,000 feu (+13%), on the routes ocean-going liners 40,000 feu (+3%) and on the lines Asia-Europe 132,000 feu (+2%). The total medium revenue for feu has been of 2.420 dollars (- 7%). The hire of the Asia-Europe services has recorded a decrease of 20% having come down to 2.149 dollars/feu; less emphasized the bending in the other markets: transpacifico 3,825 dollars/feu (- 1%), Latin America 3,405 dollars/feu (- 2%), ocean-going liner 2,974 dollars/feu (- 6%) and intra-Asian 1,439 dollars/feu (- 2%).

The logistic activities, operated through branch APL Logistics, have totaled an operating profit of 13 million dollars on revenues for 394 million dollars respect to an operating profit of 21 million dollars on a volume of transactions of 368 million dollars in the first three months of 2011.

With respect to the forecasts for next months, NOL it has evidenced that the adoption of General Rate Increases has generated an increase of the hires beginning from last March and that however the forecasts on the economic development continue to being uncertain, while the segment of the transport of continuous line to having to tackle to the high cost of the fuel and to an excess of ability to the fleet. If the situation of the fuel and the hires will not show improvements - it has explained NOL - the performances financial institutions of the group will continue to being weak people.