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Regional Container Lines back in black with US$9.2 million profit
BANGKOK's Regional Container Lines has posted a second quarter net profit of THB294 million (US$9.2 million) compared to a year-on-year loss of THB132 million.
The turnaround was credited to cutting loss-making routes and lower fuel costs, but second quarter volume declined nine per cent year on year to 479,490 TEU.
RCL joined other lines fed up with Manila congestion to call at Batangas port in the Philippines after capital Manila was hit with congestion.
RCL along with an undisclosed partner will operate the service with two 1,700-TEU vessels.
"The Philippines has enjoyed strong economic growth in the past several years and rapid development as a result," said RCL president Sumate Tanthuwanit.
The turnaround was credited to cutting loss-making routes and lower fuel costs, but second quarter volume declined nine per cent year on year to 479,490 TEU.
RCL joined other lines fed up with Manila congestion to call at Batangas port in the Philippines after capital Manila was hit with congestion.
RCL along with an undisclosed partner will operate the service with two 1,700-TEU vessels.
"The Philippines has enjoyed strong economic growth in the past several years and rapid development as a result," said RCL president Sumate Tanthuwanit.
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