Merrill Lynch "Reduces" P&O's Rating

Monday, August 13, 2001
Merrill Lynch said on Monday it had cut its rating on British shipping and logistics group The Peninsular & Oriental Steam Navigation Company (P&O) to "reduce" from "neutral" in the intermediate term.

Analysts at the investment bank also cut their long-term rating on the stock to "accumulate" from "buy", citing a worsening outlook for the company's container business.

They expected second-quarter results for P&O Nedlloyd (P&O's joint venture with Dutch Koninklijke Nedlloyd Groep), due on Thursday, to be poor for sentiment, they said.

"The tone is unlikely to be encouraging and the risk with forecasts is on the downside," they said.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar
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: 0.1153 sec (9 req/sec)