The container-shipping industry produced further evidence of the depth of its crisis yesterday when Singapore's Neptune Orient Lines revealed a $391m first-half net loss and revenue slump.
The figures from Nol, whose core APL line operates the world's fifth-largest container-ship fleet, come after Israel's Zim said it expected to burn through $1bn cash over the next four years, and Germany's Hapag-Lloydhad to sell a stake in a key container terminal.
Hong Kong's Orient Overseas International, owner of the OOCL container line, is expected to announce significant losses today.
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