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NOL returns to the black in Q2

Neptune Orient Lines (NOL) returned to the black in the second quarter. Singapore: NOL reported a $100m net profit for the second quarter, compared to a $146m loss in the same period last year. The second result mean the Singapore-listed company narrowly scraped a $1m profit for the first half of the year on revenues of $4.2bn "Vessels were effectively full during much of the first half of 2010 even though we reintroduced idled vessels to our network and added incremental capacity," said Eng Aik Meng, president of liner unit APL. "In the second half, we will continue to emphasize operational efficiency and service reliability to meet the needs of our customers." NOL said it expects a significant improvement in third quarter profits. [06/08/10]

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