Asciano Limited
(ASX:AIO) has experienced a 0.8 per cent decline in its container lifts for the first quarter.
CEO John Mullen has conceded that the shipping industry’s capacity to forecast container volumes amid difficult economic conditions has become near impossible.
Mr Mullen warned shareholders of a sustained markdown in container volumes, as major shipping customers find themselves uncertain as to what is happening in the market.
Compounding the market uncertainty, service cancellations and a temporary weather shutdown also decreased activity levels at Sydney’s Port Botany and Melbournes East Swanson Dock.
Mr Mullen says that despite the hardships Asciano remains financially strong and committed to deliver on its shareholder return targets.
Asciano generated a net profit of $242.7 million in the 2012 financial year.
