25 Feb 2016
RCL is pleased to report its fourth quarter 2015 results, posting a net gain of THB 248 million, as compared to a gain of THB 166 million in 4Q2014. The stringent cost control and the strategic realignment of services as well as fleet deployment, selective product mix and the reversal of provision for loss on impairment of assets, have contributed to the operating gain of THB 243 million in 4Q2015, before a gain on sales of fixed assets. After taking into consideration the gain from sales of fixed assets in 4Q2015, year 2015 recorded a higher profit of THB 442 million versus a gain of THB 362 million in 2014.
In line with the industry, reflecting the over supply container vessel, Regional Container Lines Group’s Shipper Owned Container (SOC) liftings in 4Q15 decreased 20% year-on-year at 182,304 TEUs. For Carrier Owned Container (COC), the liftings increased 7% year-on-year at 257,097 TEUs. The total liftings for 4Q15 therefore decreased 6% year-on-year at 439,401 TEUs. On the full year basis ended December 31, SOC liftings decreased 15% at 797,347 TEUs and COC liftings at 954,786 TEUs similar to last year, resulting in total liftings decrease of 8% at 1,752,133 TEUs.
As a result of the competitive freight rate, total turnover for 4Q15 before exchange difference, gain on sale of assets, reversal of provisions for loss on impairment of assets, decreased by 6% Y-O-Y at THB 2,959 million.
The cost of freight and operation in 4Q15 increased by 3% at THB 2,908 million as compared to the same quarter the year before, mainly due to the proportion of fixed cost.
In 4Q15 the group disposed some old containers, which translated to a disposal gain of THB 5 million as against a disposal gain of THB 17 million in 4Q14. On a positive note, the group recorded a gain on exchange of THB 1 million in 2015 versus a loss of THB 43 million last year.
Founded in 1979, RCL is a Thai based container shipping line. Listed on the Thai Stock Exchange since 1988, its core business is in the carriage of Shipper owned containers (SOC) and its own Carrier container containers (COC) in a service network that is fully Asia centric. RCL currently owns and operates a fleet of 46 vessels with sizes ranging between 500 TEUs to 3316 TEUs. It also has a fleet of 71,723 TEUs to support its own COC carriage as well. RCL operates a network of 64 offices made up of both owned and agency partner offices to support its operations. Today, RCL is recognised as amongst the leading SOC and Intra Asian operator by both peers and customers alike.
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