Regional Container Lines third quarter loss narrows to US$7.1 million

THAILAND's Regional Container Lines (RCL) has posted a third quarter net loss of THB216 million (US$7.1 million), drawn on revenues of THB804 million, down four per cent year on year.

The loss for the first nine months of 2012 was THB704 million versus THB388 the year before.

The intra-Asia feeder and domestic carrier posted a net loss of THB216 for third quarter compared to THB804 million in the same period of 2011.

The third quarter result was based on an eight per cent year-on-year increase in capacity to 593,315 TEU and costs were down by four per cent, so the disappointing results were attributed to freight rates.