KUALA LUMPUR: MISC Bhd, which had been sailing the high seas with stellar performance over the past few quarters, ran into low tide in the third quarter ended Dec 31, 2007 on rising bunker and port charges as well as lower freight rates.
On Thursday, the national shipping corporation announced that its net profit for the quarter under review fell by about 50% to RM440.9mil from RM944.5mil in the previous corresponding quarter on the higher charges and lower rates although revenue was higher at RM3.31bil compared with RM2.83bil before.