Analysts "Reduce" Recommendation on P&O

Wednesday, June 20, 2001
Dresdner Kleinwort Wasserstein said on Wednesday it was cutting its recommendation on P&O (Peninsular & Oriental Steam Navigation Company Plc) to reduce from hold and had a price target of 240 pence a share.

A research note said a recent visit to P&O Ports discovered that new project start-ups were proceeding apace and underlying volume growth was still healthy, although the market rate had fallen as world trade had slowed.

Slower growth should prove challenging to P&O Nedlloyd as container shipping capacity is set to grow 12.5 percent this year and 11 percent next year.

"Utilization will come under pressure and freight rates are likely to fall. It is largely a question of the timing and order of magnitude," the note said.

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

De Nora Acquires Severn Trent's Water Purification Business

De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies,

Bunker Holding Buys LQM

Bunker Holding Group (Bunker Holding), a global leader in the purchase, sale and supply of marine fuel with 54 offices in 27 countries, announced today the acquisition

Buoys in Disputed Waters Roil South China Sea Dispute

Buoys stretched "as far as eye could see" - Philippine sailor. The Philippine navy recently found a large steel marker bearing Chinese inscriptions and hundreds

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1088 sec (9 req/sec)