Economic Slowdown Contributes To NOL's Downgrade

Tuesday, July 10, 2001
GK Goh Securities has downgraded Neptune Orient Lines (NOL), the world's sixth largest container shipper, to hold from buy due to the economic slowdown that is expected to hurt capacity levels and dent earnings.

"The expected pick-up in summer shipping activity does not appear to be coming through," an analyst said in a recent report.

"Capacity utilization is now under pressure, reversing a two-year trend of container trade growth outpacing capacity expansion."

Although NOL remained undervalued compared with its peers, analysts said high utilization - a major factor driving its profits - was expected to come off as liners cut rates to fill ships.

Earnings per share were projected at $.07 for fiscal year 2001 and $.05 for 2002, down 58 percent and 70 percent respectively.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO),

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.0889 sec (11 req/sec)