DECLINING FREIGHT rates and uncertainty in the worldÕs major economies have put pressure on the shipping industry with P&O Nedlloyd posting third quarter operating profit of US$30 million (R288m), 60% lower than the equivalent period in 2000. Operating profit for the year to date is $107 million (R1bn). MD of P&O Nedlloyd Southern Africa, Nigel Pusey, says that although volumes were 6% better than in Q3 2000, revenue rates were 4% down on the previous quarter and 8% lower than in the same period last year.
Economic pressures reflect on P&ON results
Comments | 0
