SINGAPORE, Aug 6, 2009 (AFP) - Singapore container shipping firm Neptune Orient Lines on Thursday reported a loss of 146 million dollars in the second quarter and warned business would remained depressed for the rest of the year.

It also said a full-year loss likely, despite implementing a raft of cost-cutting measures as global trade continues to be hit by the economic slump.

However, the figure was an improvement on the 245 million dollar net loss in the first quarter.

"For the rest of the year, NOL anticipates a continuation of adverse business operating conditions. This is notwithstanding the cost saving measures that have been undertaken," the shipping firm said.

"NOL reiterates that it expects to post a significant full-year loss."

For the three months to June, revenues fell 38 percent on the year to 1.39 billion dollars, the firm said.

NOL, the world's eighth-largest container shipping firm by capacity, is 66 percent owned by state-linked investment firm Temasek Holdings.