Bloomberg.com, 12 May 2009, Chan Sue Ling
May 12 (Bloomberg) -- Neptune Orient Lines Ltd., Southeast Asia’s largest container carrier, reported its biggest quarterly loss in at least seven years as the global recession pummeled trade and freight rates.
The company posted a net loss of $244.6 million in the three months ended April 3, compared with a net income of $120.7 million a year earlier, it said in a Singapore stock exchange statement today. Revenue fell 36 percent to $1.5 billion.
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Related News:
Singapore's NOL says Q1 net loss $245 mln - Reuters
Singapore's Neptune Orient Lines posts hefty loss for first quarter - Earth Times
NOL slides into red - Lloyd's List
