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

Finance

Poland's LNG Terminal - Unfinished Agenda for Saipem

Poland's liquefied natural gas (LNG) terminal at the Baltic port of Świnoujście will be completed only if Italian firm Saipem receives further payment, reports Reuters.

Emission Control to Cost Additional $100 bln for Shipping Lines

The implementation of a global sulfur cap slated for 2020 is estimated to add an additional $50-100 billion to the shipping industry's annual fuel bills, Lloyd's List reports.

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1061 sec (9 req/sec)