News / APL container line sails back into the black with a surprise $3m quarterly profit

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Industry eyes almost popped out at the headline “NOL posts second-quarter profit of $890m

However, the caveat followed almost immediately: “Excluding the $887m gain on the sale of its supply chain management business, NOL achieved a net profit of $3m…”

But even a profit of $3m, compared with a $54m loss in the second quarter of last year, achieved during a period of freight rate volatility and soft demand, seems a compliment to Singapore-based NOL’s turnaround of its APL container shipping business.

Excluding ...