Thai-based container shipping line RCL recorded a net loss of 43 million Thai Bahts (U.S. $1.3 million) for the second quarter of 2018, fueled by the unfavorable freight environment and higher bunker costs.
RCL’s net loss was an improvement from the first quarter of 2018, when the company posted a net loss of THB 193 million, but still fell short of a net profit of THB 162 million recorded in the second quarter of 2017.
Revenues for the second quarter of 2018 inched up 2.8 percent year-over-year to THB 2.9 billion amid an 8.3 percent boost in total liftings compared to last year’s second quarter.
RCL saw bunker costs for the quarter jump 31.7 percent year-over-year and 5.5 percent quarter-over-quarter.