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

Finance

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Statoil, DNV GL Drive Subsea Factory Interface Standardization

Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction 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: 0.1505 sec (7 req/sec)