APL loses $246 million in 1Q

Wednesday, May 09, 2012

The liner carrier APL lost $246 million from continuing operations in the first quarter, a massive drop from the $8 million it lost in the corresponding period in 2011, Singapore-based parent company NOL said Wednesday. APL saw revenue drop 4 percent year-on-year in the first quarter to $2 billion, while container volume increased 4 percent to 791,000 TEUs. Average revenue per TEU fell 7 percent to $2,420, while average bunker prices in the quarter rose 31 percent to ...

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