NOL narrows first quarter losses even as freight rates fall

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By Gavin van Marle

14/05/2015

As with Hapag-Lloyd, so too for fellow G6 alliance member APL. Today the Singapore-headquartered line announced a first-quarter loss of just $11m, compared with a $98m loss in the same period last year. Despite a 13% drop in revenues, the result was propelled mainly by the steep decline in bunker costs. Heaven help the shipping lines should fuel prices suddenly climb with the alacrity with which they fell.

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