Amidst the competitive and volatile trade environment, RCL was still able to achieve in 5.8% higher in total liftings of 557,573 Teus for 1Q 2019, better than that of 1Q 2018. Along with this, freight income was up 3.6% vis-a-vis 1Q 2018.

Total revenue rose 4% year-on-year to THB 4,244 Mil, coupled with a favourable 58.4% year-on-year gain on sale of assets and a gain in exchange of THB14.6 Mil versus THB 3.38 Mil, despite a 2.26% drop in the freight rates per unit.

In tandem with the increase in volume achieved and despite the persistently high bunker prices caused by the on-going trade war and uncertainties, RCL managed to maintain its year-on-year total expenses reasonably well at THB 4,293 Mil, a decrease of 0.3%. Total expenses comprising cost of freight & operation and administration cost, registered a lower figure by THB 47 Mil (1.2%) and higher by THB 5.8 Mil (2.6%) respectively, when compared to 1Q 2018. Similar others in the same industry, RCL faced a spike in its bunker cost which resulted in a year-on-year increase of 13.1%, thus contributing to lesser than expected performance.

All in all, because of the said reasons, RCL Group reported a net loss of THB 28 Mil for 1Q 2019, which was notably still a substantial improvement when compared to the net loss of THB 191 Mil in 1Q 2018.