NOL breaks loss-streak with US$50m profit

NEPTUNE Orient Lines ended six straight quarters of losses with net profits of US$50 million in its third quarter ended Sept 21.

It posted a US$91 million loss in the corresponding quarter of last year.

Q3 revenue was up four per cent to US$2.30 billion from $2.21 billion a year ago.

However, in the first nine months of 2012, its losses came up to US$321.4 million, deepening from US$157.8 million in the same reporting period.

NOL sinks into red with Q3 loss of US$90.22m, warns of FY2011 loss

By CARINE LEE


Neptune Orient Lines (NOL) Limited on Monday reported a net loss of US$90.22 million dollars for the third quarter ended Sept 30, 2011, compared to a net profit of US$282.63 million a year ago.

The group said that the net loss is mainly due to higher costs associated with higher volumes and higher bunker costs.

Revenue for the quarter fell 9 per cent year-on-year to US$2.21 billion from US$2.43 billion on the back of lower liner revenue from lower freight rates across most major trade lanes.

Consequently, earnings per share (EPS) for the quarer was negative 3.53 US cents. A year ago, EPS was 10.95 US cents.

For the nine months ended Sept 30, NOL posted a net loss of US$157.76 million from a net profit of US$283.46 million previously.

However, year-to-date revenue crept up 2 per cent to US$6.81 billion from US$6.65 billion a year ago, due to increase in logistics revenue from higher volumes across the various logistics businesses.

Year-to-date EPS for FY2011 is negative 6.12 US cents. A year ago, EPS was 11 US cents.

'With continued low freight rates in container shipping and slowing trade demand, NOL Group expects to report a loss for the full year in 2011,' said the global container shipping and logistics services provider.

NOL makes first investment in China terminal

SINGAPORE - Singapore's Neptune Orient Lines (NOL), the world's seventh largest container shipping firm, announced on Thursday its first investment in a China terminal.
NOL will invest US$25.8 million in a joint venture with Chinese shipping logistics firm SITC International Holdings and Qingdao Qianwan United Container Terminal to operate a two-berth container terminal at the port of Qingdao.

The terminal will add 1.5 million twenty-foot equivalent units (TEUs) of annual capacity at Qingdao, which is China's fifth-largest container port and the largest in northern region, NOL said. -- REUTERS

NOL sees 12% rise in container volume

By NISHA RAMCHANDANI


Neptune Orient Lines (NOL) saw container shipping volumes increase 12 per cent year-on-year to 212,700 forty-foot equivalent units (FEUs) for the four weeks spanning 12 February to 11 March, but average revenue slipped one per cent to US$2,560 per FEU.

'The increase in volume was mainly due to higher volumes carried on the Intra-Asia and Asia-Europe trade lanes while the decline in average revenue per FEU was due mainly to falling rates in the Asia-Europe trade lane,' NOL said in a release to the Singapore Exchange (SGX) on Monday.

For the year to date, container shipping volumes have risen 8 per cent to 534,300 FEUs while average revenue per FEU has increased 6 per cent to US$2,616.

NOL carries 5% more cargo in 6 weeks to Feb 11

SINGAPORE - Singapore-listed Neptune Orient Lines (NOL) said on Monday that its container shipping volumes for the six weeks to Feb 11 rose 5 per cent from a year ago, helped by higher traffic on the intra-Asia and Asia-Europe routes.

NOL carried 321,600 forty-foot equivalent units (FEUs) during the six-week period, up from 307,400 FEUs a year ago, the firm said in a statement.

The average revenue per FEU increased 10 per cent year-on-year over the same period to US$2,654 per FEU, helped by improved freight rates on major trade lanes, particularly the transpacific route. -- REUTERS

NOL rises after CEO orders more vessels

SINGAPORE - Shares of Singapore's container shipping firm Neptune Orient Lines (NOL), rose as much as 2.5 per cent on Friday after saying it plans to order more vessels, a local trader said.

At 0113 GMT, shares of NOL, the world's seventh largest container shipping firm, were traded at S$2.02 with 849,000 shares changing hands, while the broader Singapore market was up by only 0.3 per cent.

NOL said in an interview on Thursday it will order more vessels to address an expected shortage in the global freight market within a few years.

NOL, around two-third owned by Singapore state investor Temasek Holdings , also posted better-than-expected quarterly earnings last week.

It said it had a fourth quarter net profit of US$177 million compared to a loss of US$211 million a year ago. Its results beat the average analyst estimate of US$121.9 million according to Thomson Reuters. -- REUTERS

NOL posts Q4 net profit of US$177m

SINGAPORE - Neptune Orient Lines, the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared.

NOL, around two-third owned by Temasek Holdings, posted fourth quarter net profit of US$177 million compared to a loss of US$211 million a year ago. Its results beat the average analyst estimate of US$121.9 million according to Thomson Reuters I/B/E/S.

For the whole of 2010, NOL made a net profit of US$461 million compared with a loss of US$741 million in 2009.

The global shipping industry suffered its worst downturn in history in 2009 as the recession hit global trade and forced many companies to lay up ships and cut jobs.

NOL said that 'notwithstanding the improved performance for 2010, market conditions are uncertain'. -- REUTERS

NOL posts higher average revenue per FEU

SINGAPORE: Mainboard-listed container shipper Neptune Orient Lines (NOL) said its average revenue per 40-foot equivalent unit (FEU) container has risen.


In a filing on Monday to the Singapore Exchange, NOL said revenue for the period from November 13 to December 31 rose 21 per cent from a year earlier to US$2,647.

The firm said the higher average revenue per FEU was due to improved freight rates in the major trade lanes.

Its shipping volume for the same period gained 26 per cent from a year earlier.

NOL said the improvement in volume was mainly due to higher volumes carried on the Intra-Asia and Asia-Europe trade lanes.

Meanwhile for the full year of 2010, average revenue per FEU container is up 22 per cent to US$2,787.

At the same time, volume has also grown by nearly a quarter.

-CNA/wk

NOL Group reports US$282 million third-quarter profit

US$421 million turnaround from 3Q 2009; revenue 55% higher


SINGAPORE, 19 OCTOBER 2010 – NOL Group today reported net earnings of US$282 million for the third quarter of 2010, a US$421 million turnaround from the US$139 million net loss in the third quarter of 2009. NOL said revenue in the third quarter improved 55% to US$2.4 billion.

The Group has now reported net earnings of US$283 million through three quarters of 2010. It lost US$530 million during the same period last year.

“Strong demand and an improved rate environment have helped us turn around our performance,” said Group CEO Ronald D. Widdows. “Our emphasis at this point is on operating efficiency and cost containment to ensure that we maintain our momentum.”

The Group’s Core EBIT (Earnings Before Interest and Taxes) for the third quarter was US$319 million compared to a Core EBIT loss of US$115 million in the same quarter a year ago. For the first three quarters in 2010, Core EBIT was US$359 million compared to a Core EBIT loss of US$468 million for the first three quarters of 2009.

NOL carried 18% more cargo in 4 wks to July 23

SINGAPORE - Singapore's Neptune Orient Lines (NOL), the world's sixth-largest container shipping firm, said on Monday it carried 18 per cent more containers in the four weeks to July 23 compared to a year ago.

NOL said in a statement it shipped the equivalent of 220,200 40-foot containers (FEU) on its vessels in the period, up from 187,400 a year earlier, mainly due to higher shipments on trans-Pacific and Asia-Europe routes.

The average revenue in the period from each container rose to US$3,076, up 39 per cent from a year earlier. -- REUTERS

NOL narrows losses in Q1, sees full year profit

How will NOL perform next week?

By JOYCE HOOI


NEPTUNE Orient Lines narrowed its losses year-on-year for its first quarter ended Apr 2, 2010 by posting a loss of US$98.5 million compared to a loss of US$244.6 million in the corresponding period last year.

The better performance was attributed to higher volume and increasing freight rates under the improved container shipping operating environment.

Revenue for the quarter grew a robust 36 per cent, from US$1.54 billion the year before to US$2.1 billion. The increase in revenue is mainly due to the increase in container shipping revenue which experienced volume and rate improvement.

Loss per share stood at 3.82 US cents, compared to a loss per share of 15.01 US cents in Q1 2009.

NOL expects to return to profitability for the full year on continued improvements in volumes and freight rates in its principal markets.

The group's counter closed a cent lower in trading today, to $2.14.