NOL Loss Deepens

14 February 2010 (Last Updated February 14th, 2010 18:30)

Neptune Orient Lines (NOL) has reported a net loss of $741m for 2009, compared to a net profit of $83m in 2008, the company has announced. The Singaporean container shipping group has posted a Q4 net loss of $211m, compared to a net loss of $149m a year earlier. NOL said at th

Neptune Orient Lines (NOL) has reported a net loss of $741m for 2009, compared to a net profit of $83m in 2008, the company has announced.

The Singaporean container shipping group has posted a Q4 net loss of $211m, compared to a net loss of $149m a year earlier.

NOL said at the Core EBIT level it posted a loss of $651m for 2009, compared to a profit of $213m in 2008.

Core EBIT for Q4 2009 was a loss of $183m, compared to a Core EBIT loss of $45m for the corresponding period in 2008.

The group’s revenue fell 30% to $6.5bn for 2009 on year-on-year, it said.