NOL sinks deeper with US$91.1m loss in 3Q11

The shipping firm’s net losses widened from US$57m in 2Q on the back of a shortened peak season.

Although revenue increased by 2.9% QoQ, NOL recorded a net loss of US$157.8m in 9M11, or 14% higher than the previous forecast of analysts.

In a statement, OCBC Research said shipping customers this year are holding back on shipments due to uncertain economic conditions.

The traditional peak shipping which typically happens in 3Q failed to materialize this quarter as a result of weak demand, according to the analyst.

NOL's worse than expected net loss, despite a 6.9% volume growth in 3Q11 to 699,700 FEUs, was partly contributed by weak freight rates resulting from continued downward pricing pressure and a short period of peak season surcharges.

The company’s average revenue per FEU (ARPF) was down 18.6% YoY in 3Q11.

Weak freight rates were especially evident in the Europe trade lanes, which saw ARPF fall 24.9% YoY. However, bunker fuel prices remained high despite a weak shipping environment.

Bloomberg's 380 Centistoke Bunker Fuel Spot Price Singapore Index in 3Q11 averaged 661 points, or 48.9% higher than a year ago.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia