APL sinks to big 2011 loss | News

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APL sinks to big 2011 loss

Wednesday, February 22, 2012

The container line APL lost $446 million from continuing operations in 2011, nearly wiping out the $492 million in operating profits the line made in 2010. APL’s losses, reported Wednesday by Singapore-based parent company NOL, came on revenue that declined 5 percent in 2011 to $7.9 billion. Container volume rose 5 percent to 2.9 million TEUs, though the average revenue per FEU fell 10 percent to $2,500. The average price of bunker fuel was 33 percent higher in...

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