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Business > Maritime
2GO, Chelsea and Harbor Star incur net loss in Q1
By Genivi Verdejo
May 26, 2021 12:30 am



The country's shipping lines 2GO, Chelsea and Harbor Star incurred a net loss in the first quarter of the year, due to travel restrictions and a slowdown in the economy during the coronavirus disease 2019 (Covid-19) pandemic.

2GO Group, Inc. and subsidiaries widened the net loss to P292 million in the first three months of the year, from P111 million net loss in the same period a year ago. Total revenue declined 23 percent year-on-year (YoY) from January to March.

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