NOL achieves turnaround in Q2
Add BT as a preferred sourceSingapore
SEVERE erosion in freight rates took its toll on container shipping firm Neptune Orient Lines (NOL) in the second quarter, which saw its liner business post a pre-tax loss even as it said in a press release on Thursday that its liner strategy was "gaining traction".
Though the group was overall profitable in the second quarter, most of its earnings came from gains on the sale of its logistics arm APL Logistics, which was completed in Q2.
TRENDING NOW
Three Holland Village shophouses sold for S$70 million to Tat Lee Bank’s Goh family unit
About 1 in 7 Singapore families has income of at least S$30k a month; share almost doubled in 5 years
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank
