Helped by a 20% rise in container freight rates and $163m in cost-savings Singapore's Neptune Orient Line has turned a $430m loss into a $429m profit.
Having sold off its tanker subsidiary AET last year to Malaysian International Shipping Corporation for $445m, NOL has focused on its core APL Liner container shipping and APL Logistics business which contributed 75% and 18% respectively of 2003's $5.5
