NOL NEPTUNE ORIENT LINES LIMITED N03.SI Neptune Orient Lines (NOL SP) 1Q16: Losses Mount As NOL Awaits CMA-CGM’s Eventual Acquisition
- NOL’s net loss widened to US$105m for 1QFY16, amid the weakening shipping environment.
- The poor results were led by declines in freight rates and volumes, which more than offset quarterly cost savings.
- Net gearing crept up to 117%.
- Shipping outlook remains gloomy, with no near-term recovery in sight.
NOL NEPTUNE ORIENT LINES LIMITED N03.SI Neptune Orient Lines: Stuck in the red
- Neptune Orient Lines Ltd’s (NOL) 1Q16 core earnings (liner business) remained in the red as net loss widened 190.5% YoY to US$105.1m.
- 1Q16 liner revenue fell 28.0% YoY to US$1.14b due to falling freight rates and weak container trade demand.
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