Financial Results as at 30 June 2020
18 Aug 2020

The impacts of the COVID-19 to the global economy have been felt widely throughout the 2nd quarter of the year. As the number of infection cases rose every day, more and more countries went into lock down, seizing majority of economic activities and trading. The implementation of those restrictions and measures have further deteriorated demand for shipping.

RCL has put efforts in place to mitigate the impacts from this economic slow-down through, for example, special port calls and extra voyage arrangements where cargoes existed. However, container volume handled in Q2 2020 was down by 15% from a year earlier to 465,000 TEU. In contrast to this lower cargo volume, freight income per TEU improved by 8%. Thanks to such improvement, the decline of total revenue was hence limited to only 9%, reporting at THB 3,928 Mil.

From the aforementioned circumstances, RCL continues to execute various actions to control our operational cost through a better capacity optimization, cargo operation arrangements, and box management. Combining with a 37% better bunker expense, the cost of freight and operation improved by 13%. Therefore, RCL’s total expense was trimmed down by 13%, compared with the same period in the preceding year, to a total of THB 3,654 Mil.

Amid those difficult operating environments, RCL is, however, pleased to report a net profit of THB 215 Mil for Q2 2020, which may be considered as a significant development compared to a net profit of THB 11 Mil reported in the same period last year. This has brought our first six months result to a net profit of THB 228 Mil.

About RCL
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 43 vessels with sizes ranging between 200 TEUs and 6621 TEUs. It also has a fleet of 107,574 TEUs to support its own COC carriage as well. RCL operates a network of 69 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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