Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

RCL back in the black in 2014

RCL back in the black in 2014
Thailand’s Regional Container Lines (RCL) was back in the black in 2014 with a THB362m ($11.18m) profit.

The intra-Asian and feeder line turned round a 2013 loss of THB1.65bn. The fourth quarter of 2014 the company reported a profit of THB166m compared to a loss of THB939m in the same quarter a year earlier.

“Stringent cost control, realignment of services and fleet deployment, selective product mix and the reversal of provision for loss under onerous contract have contributed to the operating gain of THB149m in 4Q2014, before a gain on sales of fixed assets,” RCL said.

The line’s total volumes carried reduced by 9% in 2014 with the company’s vessels carrying 1.89m teu.

In Q4 the cost of freight and operations fell 14% to THB2.82bn, “mainly due to the decline in bunker, fixed cost and liftings”.

TAGS: Containers RCL