NOL Registers Q2 Profit

10 August 2010 (Last Updated August 10th, 2010 18:30)

Neptune Orient Lines (NOL) has reported a second-quarter profit of $100m, compared with a loss of $146m in the corresponding quarter a year earlier. The Singapore-based shipping firm said its quarterly revenue increased 53% to $2.1bn. The group's core earnings before interest and

Neptune Orient Lines (NOL) has reported a second-quarter profit of $100m, compared with a loss of $146m in the corresponding quarter a year earlier.

The Singapore-based shipping firm said its quarterly revenue increased 53% to $2.1bn.

The group’s core earnings before interest and taxes (EBIT) for the quarter was $114m against a core EBIT loss of $131m in the same quarter in 2009.

During the first half, NOL’s container shipping volume increased 39% to 1.35 million feus.

The company’s liner shipping business, APL, reported a 46% increase in its H1 revenue of $3.7bn, up from $2.5bn a year ago.