'First time in five years'
P&O Nedlloyd improved its operating results in the first quarter of the year by $4-million (R24,8m)and the loss before tax by $3-million (R18,6m) compared to last year's first quarter results.
With the weakest quarter completed, the outlook continues to be positive compared to last year, according to m.d. John Turner.
We are ready for further consolidation and are exploring all avenues to maintain our position as one of the largest container operators based on standing slots, Turner says.
Turner also identifies a marked improvement in demand/supply levels.
Demand in 2000 is set
to grow by 6,5% and supply by only 3,9% - the first
time in five years that the growth in demand will have exceeded the growth in
supply, he told FTW.
Further highlights show
an increase in volumes by 17% between the first quarter (Q1) 1998 and Q1 1999.
There has also been a
significant improvement in flows into Asia. Conversely, the growth in Asian exports to Europe has not matched the high levels of the first quarter in 1998.
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