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Singapore's NOL slips into 4th year of loss in 2014; Q4 loss narrows

[SINGAPORE] Singapore's Neptune Orient Lines Ltd slipped into the fourth straight year of losses in 2014, though the fourth-quarter net loss narrowed from a year earlier, the company said on Friday.

The shipping and logistics company reported a net loss of US$259.8 million for the year, compared with a loss of US$76.3 million in 2013 and a mean forecast of US$191.3 million loss, based on a Reuters poll of 15 analysts.

Its fourth-quarter net loss stood at US$85.1 million, down 38 per cent from a year earlier, the company said in a statement. "More port congestion, resulting from further deterioration in the labour situation on the US West Coast, is a potential risk factor," NOL said.