NOL Led Group Bids For Koja Container Terminal
A consortium led by Singapore shipping group Neptune Orient Lines (NOL) has put in a $150 million bid for Indonesia's Koja Container Terminal in Jakarta's Tanjung Priok port area. The other members of the group include Singapore government's investment arm, Temasek Holdings, and Indonesian shipping firm Samudera Shipping Line Ltd. Competing against NOL is Hong Kong Tycoon Li Ka-Shing's Hutchison Whampoa, according to a report in the Business Times.
NOL Led Group Bids For Koja Container Terminal
A consortium led by Singapore shipping group Neptune Orient Lines (NOL) has put in a $150 million bid for Indonesia's Koja Container Terminal in Jakarta's Tanjung Priok port area. The other members of the group include Singapore government's investment arm, Temasek Holdings, and Indonesian shipping firm Samudera Shipping Line Ltd. Competing against NOL is Hong Kong Tycoon Li Ka-Shing's Hutchison Whampoa, according to a report in the Business Times.
S&P: Credit Quality of SE Asian Owners Drops
Standard & Poor's said the credit quality of shipping companies across Southeast Asia has suffered in the last two years, with most companies in the "weak to vulnerable" range, compared with "fair to weak" previously. "Earnings vulnerability and aggressive capital structures, characterized by modest and volatile cash flows and high debt levels, have strained the ability of many companies to meet financial obligations in a timely manner," shipping analyst Ee-Lin Tan said. Tan said underpinning the deterioration were limited geographic diversity and exposure to regional trade flows, intense price-based competition led by lower cargo traffic in certain trade routes and excess capacity within several shipping segments.
