Neptune Orient Lines reported a $57 million loss on Friday as its APL liner shipping operation's pricing fell 9 percent in the second quarter, and the shipping line said it will post a loss for the full year if tough rate and capacity conditions don’t improve.
The loss following a $100 million profit a year ago came as APL's container's quarterly revenue stayed flat at $1.9 billion, and sent the Singapore-based carrier into the red along with a growing array of carriers. Full story
