Neptune Orient Lines books $14.5m loss in Q1

Due to the challenging shipping market.

Neptune Orient Lines booked a net loss of $14.5m (US$11m) in the first quarter.

This is 89% smaller than the net loss of $129.5m (US$98m) that it booked in the same quarter last year.

NOL managed to narrow its losses through capacity management and improved cost and operational efficiencies.

“While congestion in the US West Coast is easing, the liner industry continues to face persistent over-capacity and
uncertain global economic prospects,” said NOL Group President and CEO Ng Yat Chung.

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