Royal P&O Nedlloyd anticipates 17% rise in container revenues

Royal P&O Nedlloyd anticipates 17% rise in container revenues    Netherlands-based Royal P&O Nedlloyd, parent company of P&O Nedlloyd, said it expects its first half revenues from container shipping to increase 17 percent thanks to “continued favorable supply and demand balances.”
   Royal P&O Nedlloyd is due to announce its results for the six months ended June 30 on Aug. 3, one day before the acceptance period for A.P. Moller-Maersk’s 2.3 billion euros ($3 billion) takeover of Royal P&O Nedlloyd expires.
   The Dutch carrier said it expects first half 2005 revenues from container shipping to be $3.2 million, compared to $2.7 billion in the same period last year. Royal P&O Nedlloyd also said it’s container volumes in the first six months have increased 3 percent to 2.04 million TEUs, compared to 1.97 million TEUs in the first half 2004.
   Despite the forecasted increases in revenues Royal P&O Nedlloyd warned that “increased operational costs, congestion and the weak U.S. Dollar continue to have a negative impact.”
   For the full fiscal year 2005, the board of Royal P&O Nedlloyd said it expects to achieve profit before interest and tax for 2005 of not less than $550 million.