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RCL bucks container shipping trend with improved 2015 profit

RCL bucks container shipping trend with improved 2015 profit
Bucking the trend in boxshipping Thai-listed Regional Container Lines (RCL) reported an improved profitability in 2015 despite carrying lower volumes.

RCL said that including gains from sales of fixed assets it made a THB442m ($12.37m) profit in 2015 compared to THB362m in 2014. In Q4 2015 it reported a net profit of THB248m against THB166m in the same quarter a year earlier.

The company said that “stringent cost control and the strategic realignment of services as well as fleet deployment, selective product mix and the reversal of provision for loss on impairment of assets”, had contributed to its fourth quarter profit.

The realignment of services and an oversupply of containership capacity was reflected in a 8% decrease in annual volumes to 1.75m teu.