News / Torrid Q4 for APL drags NOL down, but selling family silver cuts annual losses

© Khunaspix Dreamstime.

The container arm of Singapore-headquartered Neptune Orient Lines (NOL) suffered a torrid final three months of 2013, dragging down its parent to a net loss for the quarter of $137 million.

The loss is the consequence of an 8% year-on-year decline in container line APL’s average revenue per feu to $2,218.

Meanwhile, for the full-year, NOL’s turnover was down 7% on 2012, to $8.8 billion, in a year that saw APL’s throughput decline by 2% to 2.9 million teu.

However, at the bottom ...