Regional Container Lines posts record 3rd quarter profit, revenue

Regional Container Lines posts record 3rd quarter profit, revenue

   Regional Container Lines said that best-ever container volumes and improved freight rates helped it achieve record net income and revenue in the third quarter.

   The Thailand-based carrier’s net income improved 12 percent to Baht1.42 billion ($35 million) in the third quarter. Revenue was up 18 percent to Baht5.96 billion ($145 million). Regional Container Lines said it carried a record 580,894 TEUs up 8 percent from the year earlier quarter.

   The carrier said its cost of freight and operations rose 18 percent to Baht3.81 billion ($93 million).

   “Other than the continuous increase in bunker cost this quarter, the increase was in line with the improved liftings,” the carrier said.

   For the year to date, Regional Container Lines posted a net profit of Baht4.08 billion ($99 million), up 74 percent compared to the first nine months of 2004. Revenue up 31 percent to Baht16.67 billion ($405 million).

   Regional Container Lines owns and operates a fleet of approximately 40 vessels with a combined capacity of 60,000 TEUs.