The savings to be gained from a container line getting more miles to the gallon are immense, as Singapore's NOL Group can attest with $1.2 billion in cuts, and half of that came from bunker and network savings at its APL liner division.
20 Aug 2014
Neptune Orient Lines said Wednesday media reports that it plans to sell its logistics business, APL Logistics, for up to $900 million are "preliminary and exploratory in nature.”
05 Mar 2014
NOL Group will return to profit this year by concentrating on its core Transpacific business and reaping the benefits of its sizeable port holdings, according to one equity analyst firm.
20 Feb 2014
NOL Group posted a fourth quarter loss of $137 million, which was $46 million bigger than the $91 million loss in the same period last year, as revenue from its container shipping business was hit by overcapacity and falling freight rates.
28 Jan 2014
Jefferies expects Asian container lines’ earnings for the fourth quarter of 2013 overall will be in line with or below Bloomberg consensus estimates, as freight rates in Asia-related trade lanes continued to slide and overcapacity remained.
30 Oct 2013
NOL Group’s extensive cost-cutting paid off in the third quarter as the Singapore-based shipping line posted a net profit of $20 million even as its revenue declined.