Neptune Orient Lines’ losses jumped 241% to $352m in FY14

This is its third consecutive year of losses.

Neptune Orient Lines reported that its net loss jumped to $352m (US$260m) in FY14, up 241% compared to the $103m (US$76m) net loss that it posted in the preceding financial year.

This marks the third consecutive year of losses for the shipping line. NOL declared no dividends for FY14,

 “While we are seeing some benefits from the current trend of lower bunker prices, the longer term impact of the drop in fuel price on container freight rates is uncertain. More port congestion, resulting from further deterioration in the labour situation on the US West Coast, is a potential risk factor,” said NOL Group CEO Ng Yat Chung.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!