The Singapore-listed containerline chopped its deficit to $76m in 2013 compared to a huge loss of $412m a year earlier, it revealed last week.
The improvement, which was in line with most analyst’s expectations, was down to the company’s $470m in cost savings as well as the $200m sale of its headquarters.
The savings came from the delivery of a series newbuildings which replaced older or smaller tonnage that was either sold or scrapped, while NOL also returned five ships chartered at high rates.
Outlook
