P&O NEDLLOYD Container Line increased operating profit from $16-m in the third quarter to $31-m in the fourth quarter of 1999, despite significantly higher fuel prices which continue to have an adverse effect on the market.
A strong growth in volume on all main trade routes reflected a 12% increase in throughput to 739 100 teus against 658 400 in the previous quarter.
The outlook is more positive than for some time, with fuel costs being the only significant negative item, says P&O Nedlloyd's Nigel Pusey.
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