NOL Shares Surge

Thursday, May 17, 2001
Shares of shipping group Neptune Orient Lines (NOL) hit a nine-month high today, boosted by prospects of its logistics operations and hopes its weightage will rise in changes to the MSCI Singapore index. NOL, which is the world's sixth largest container shipper, is up 12.5 percent since the start of the year and has outperformed the benchmark Straits Times Index by 31 percent. "A lot of houses like this stock because it has been a great turnaround story. There is also speculation that it might be a beneficiary in the upcoming MSCI changes," a dealer with a Singapore brokerage said. The Singapore-based company, in which the government holds 33 percent, is a constituent stock of the MSCI index with a 1.18 percent weighting. Masya Spek, analyst at GK Goh, said in a recent report that investors' perceptions of NOL as an unprofitable debt-laden monolith was a thing of the past. NOL had debts of S$1.93 billion at the end of 2000, after some asset sales and a recapitalization, against debts of US$3.1 billion in 1998. She expected the company to reduce gearing even as it expands its operations and noted that NOL was chartering rather than buying new vessels. - (Reuters)
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

US Rail Jams Force Rush to Roads and Rivers

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

Port of New Orleans Sponsors Agricultural Summit

The Port of New Orleans has signed on as a sponsor for the 9th annual Oilseed & Grain Trade Summit, taking place here October 7-9, 2014, at the Hyatt Regency New Orleans.

Finance

Info-X Invests in $5m Headquarter Expansion

Transportation solutions provider capitalizes on outsourcing trend Info-X Software Technology, provider of software solutions and back-office support to U.S.

US Rail Jams Force Rush to Roads and Rivers

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low

Jones Act is Critical to Conn. Economy

Study shows Connecticut shipbuilding industry worth $2.5 billion to state’s economy, supports nearly 23,000 jobs The American Maritime Partnership (AMP) joined

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage 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: 0.1249 sec (8 req/sec)