Regional Container Line suffers US$11.4 million Q1 loss despite sales rise

BANGKOK's Regional Container Lines (RCL) posted an accelerating first quarter profit loss of US$11.4 million versus the $1.1 million loss suffered last year despite a 1.9 per cent increase in revenue to US$113.5 million.


Quarterly losses outran revenue gains because of bunker fuel prices and rising Asian currencies. In 2010, RCL recorded a full-year profit of $9.9 million, turning around from a $114 million loss in 2009.


Liftings for the first quarter increased one per cent to 605,905 TEU year on year, said the company statement.
(Source:http://www.schednet.com)