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RCL losses narrow in first quarter

RCL losses narrow in first quarter

Bangkok: Thailand's Regional Container Lines remained in the red for the first quarter of 2010. The intra-Asia and feeder container line reported a first quarter net loss of THB342m narrowing from a loss of THB711m in the same period in 2009. RCL said the company's volume's increased 7% in the first quarter to 600.917 teu. However, the company added that rates could not be increased as lines had started to compete for market share. Cost cutting exercises reduced RCL's total expenses to THB3.97bn in the first three months of the year, but the company did not reach the breakeven point as fuel prices increased 10% and consumption increased as volumes rose. [17/05/10]

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