News / NOL adds $23m to its losses this year as US west coast port congestion hits Q3

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By Mike Wackett

31/10/2014

Posting a $23m net loss for third-quarter trading to add to the $152m of red ink in the first half of the year, Singapore-headquartered NOL said its APL container line had been adversely impacted by “severe port congestion in Southern California”.

Its ships have been held with many others at anchor off San Pedro Bay during the strong peak season as the two biggest US ports of Los Angeles and Long Beach struggle to cope with larger ships, increased volumes and ...

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Congestion indigestion NOL The Purse Strings

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