NOL Shares Suspended

Friday, August 10, 2001
Shares of Singapore-based Neptune Orient Lines (NOL), the world's sixth largest container ship operator, were suspended on Friday pending an announcement. "We suggested a suspension pending an announcement by them," a spokesman from the Singapore Exchange told Reuters. NOL officials were not immediately available to comment but the market was speculating the firm may issue a statement on its performance expectations. The Straits Times newspaper quoted president and chief executive Flemming Jacobs as saying "the expectations now are for much lower results than what we saw last year". Falling freight rates and sluggish cargo volumes as a result of the global economic downturn have hurt shippers like NOL. NOL shares were trading at S$1.16 before the suspension.

Maritime Today


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

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

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators 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: 0.0739 sec (14 req/sec)