ShippingWatch

Deficit-making APL continues cost reduction efforts

Singapore-based container carrier APL, currently mentioned as a potential acquisition subject, plans to stick to the course set by the deficits booked in recent years. More cost reductions underway, the carrier tells ShippingWatch.

Photo: APM Terminals

Five years of deficits have forced one of the world's largest container carriers, Singapore's APL, to implement cost reduction measures and divest assets, and even though the results show improvements, the carrier plans to stick to this course, an APL spokesman tells ShippingWatch in a comment on the interim report, published last week.

The result shows a significantly improved operating result, though the carrier still maintains its position among the industry's poorest performers.

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