Neptune Orient Lines , the world's fourth largest container shipping firm, a wider-than-expected first quarter net loss, but it expects to return to profit for the full year.

The company, around two-third controlled by Singapore state investor Temasek Holdings reported a quarterly loss of $98 million, compared with a net loss of $245 million a year ago, with global shipping sector still struggling to bring rates to profitable levels.

"Operating environment has improved further. If this trend continues, NOL expects to return to profitability for the full year," the company said in a statement. (Reuters)