SINGAPORE's Neptune
Orient Lines Ltd (NOL)
has posted a third-quarter net loss of US$96 million, owing to soft freight
rates; on 28 per cent lower revenue at $1.2 billion, compared to the same
period last year.
"The
absence of the traditional third-quarter peak season in Europe and North
America led to severe freight rates erosion in major trade lanes," NOL
Group president and CEO Ng Yat Chung said in a statement, reported
Reuters.
The shipping
company is controlled by Singapore's state investor Temasek Holdings.
Source :
HKSG.
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