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lg_6273 Elite	19-Dec-2006 18:03        lg_6273 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Published December 19, 2006   Shipping rates fall in Q3 as new vessels boost capacity But cost of moving crude from Middle East to Asia expected to rise (SINGAPORE) The world's shipping lines charged less to move containers in the three months ended September, as new vessels entering the fleet boosted capacity, Containerisation International magazine said.   Tougher times: Fees of sea carriers have been falling from the second half of 2005, as shipyards are set to deliver a record number of vessels this year. Neptune Orient Lines said in August it expects the more difficult environment to persist over the next 12 months  The average rates of goods, including surcharges, moved to the US West Coast from Asia fell 8 per cent to US$1,547 per 20-foot standard container in the third quarter, the magazine said, citing data from unidentified shipping lines. Fees for goods shipped to Europe from Asia declined 16 per cent to US$1,546 a box, according to the report. Fees of AP Moeller-Maersk A/S, CMA CGM SA and other sea carriers to move goods through containers have been falling from the second half of 2005, as shipyards are set to deliver a record number of vessels this year. Neptune Orient Lines Ltd said in August it expects the more difficult environment to persist over the next 12 months. Maersk, Hapag-Lloyd AG and other shipping lines have said they will reduce capacity during the northern hemisphere's winter season when transport demand slows. Meanwhile, the cost of transporting crude oil from the Middle East to Asia on 2 million-barrel tankers is expected to rise as refineries complete vessel bookings before year-end holidays, tanker brokers said.   The average rates of goods moved to the US West Coast from Asia fell 8 per cent to US$1,547 a box in Q3    Refineries need to ensure that any outstanding bookings are finalised as quickly as possible this week to allow themselves time to resolve last-minute glitches. Tanker owners and traders will depart for Christmas holidays at the end of this week. 'There are some cargoes coming out before Christmas,' Per Mansson, a tanker broker for Nor Ocean Stockholm AB, said by telephone from the city. The supply of ships is 'basically in balance' and rates will move 'maybe a few points up', he said. Exxon Mobil Corp, the world's biggest oil company, hired the Takama at a rate of 57.5 Worldscale points, according to a note from Paris-based shipbroker Barry Rogliano Salles. That's 5 per cent less than the benchmark assessment for shipments to Asia by the London-based Baltic Exchange. Takama has only one layer of steel separating its cargo from the ocean. Such vessels carry a greater risk of spillage than double-hulled tankers if there's an accident and are cheaper to hire. The exchange's assessment is for a mixture of double-and single-hull vessels. Worldscale points are a percentage of a nominal rate, or flat rate, for a specific route. Flat rates, quoted in US dollars a ton, are revised annually by the Worldscale Association in London to reflect changing fuel costs, port tariffs and exchange rates. At 60.94 Worldscale points, owners of modern, double-hulled Very Large Crude Carriers, or VLCCs, can earn US$30,202 a day on a 38-day round trip from Saudi Arabia to South Korea, based on a formula by RS Platou, an Oslo-based shipbroker, and Bloomberg bunker prices. Frontline Ltd, the world's biggest tanker company by capacity, said on Nov 28 that it needs US$29,966 a day to break even on each of its VLCCs. Its single-hulls typically earn it US$10,000 a day less than its double-hulls, chief executive officer Bjorn Sjaastad said. The price of ship fuel, known as bunkers, fell to US$271 a ton, or US$40.44 a barrel, at Fujairah in the United Arab Emirates, from US$273 a ton on Dec 12, according to data compiled by Bloomberg. - Bloomberg
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YongJiu Veteran	28-Nov-2006 12:40        YongJiu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Singapore's NOL extends gains on potential tie-ups SINGAPORE (XFN-ASIA) - Neptune Orient Lines Ltd extended its gains while the rest of the market took a beating on hopes that NOL's valuations would improve with the possibility of strategic tie-ups, dealers said.     Citigroup earlier said revisiting potential ports sales could see NOL add 25 pct to its valuation.     In a client note, Frasers Securities research head Najeeb Jarhom said from a technical standpoint, the worst could be over for NOL and its share price ought to begin recovering in the coming months.     "After five months of testing the sub-2.00 sgd area, (the) stock is returning to a familiar 2.00-2.10 sgd base with potential to reach 2.18-2.20 sgd, with the next stop around 2.30 sgd," he said.     NOL was up 0.03 sgd or 1.43 pct at 2.13 with 1.57 mln shares traded.     The Straits Times Index was down 30 points or 1.06 pct at 2,810.94.
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cashiertan Elite	28-Nov-2006 11:30        cashiertan About Contact  Quote this Post!
x 0   x 0  Alert Admin	take note of this counter. somthing brewing
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zhuge_liang Supreme	27-Nov-2006 22:13        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Investors bought the stock on hopes the company may seek joint ventures in its port terminals business. Citigroup said in a report on Friday that NOL could seek tie-ups with port terminal operators such as the Seattle port. Citigroup analyst Charles de Trenck said NOL could look for strategic tie-ups similar to what South Korea's Hanjin Shipping Co did in September when it sold a 40% stake in its six overseas terminals to Macquarie Bank. "Targeting individual terminals such as Seattle for specific joint ventures could also add value and returns," de Trenck said. Despite this, Citigroup maintained a "sell" call on NOL's stock, citing a weak sector outlook, with a price target of $1.80.
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singaporegal Supreme	27-Nov-2006 22:06        singaporegal About Contact  Quote this Post! Style: Technical   Mood: Yells: "Female TA nut"
x 0   x 0  Alert Admin	Hard to tell the trend for this one... so be cautious
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shplayer Elite	27-Nov-2006 14:31        shplayer About Contact  Quote this Post!
x 0   x 0  Alert Admin	3Q result posted by NOL declared NAV as at 22 Sep USD 1.41 => 1.41 x 1.55 = S$ 2.185.
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YongJiu Veteran	27-Nov-2006 12:52        YongJiu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Net asset value of 2.3 sgd mean it currently undervalue by 20cts =)
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zhuge_liang Supreme	27-Nov-2006 11:39        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is sharply higher on hopes that it will consider a restructuring of its ports to improve its valuations, dealers said. Citigroup has maintained a "sell" recommendation on NOL with a target price of $1.18 due to the weak sector outlook, but noted that "a catalyst from freeing capital from ports could alter our valuation." "Revisiting potential ports sales could add 25% to valuation," it said in a note. "NOL's ports, which saw about 4 mln TEU of lifts in 2005, are relatively firmly integrated into operations," it said. "The quality of the assets is high, however, and merits a revisit from management as to potential to restructure." Citigroup said it values NOL's terminals at about US$534 mln in 2007 in its NAV of $2.30 per share for NOL.
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maxsyn Veteran	02-Nov-2006 22:23        maxsyn About Contact  Quote this Post!
x 0   x 1  Alert Admin	MA down trend.
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allantanhc Veteran	02-Nov-2006 22:19        allantanhc About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think this is a stock to avoid for the time being.
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Nostradamus Supreme	02-Nov-2006 22:03        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	NOL, which runs the world's eighth-biggest container shipping line, said on Thursday that its quarterly profit had halved, reflecting the downturn in the shipping industry. Big shipping firms such as A.P. Moeller-Maersk, the world's biggest container line, and Germany's TUI, which owns Hapag-Lloyd, have recently warned that their profits will be hit by the slowdown this year due to lower prices for shipments, higher fuel costs, and new ships entering the market. Earlier this week, Taiwan's Evergreen Marine, the world's third-largest container shipping line, posted a sharp decline in quarterly profit as a result of oversupply, lower freight rates and investment losses. The company's core container shipping business, APL, which is headed by industry veteran Ron Widdows, suffered a 66% slump in quarterly core earnings before interest and taxes to $82m, reflecting lower freight rates and higher fuel prices. Average revenues per forty-foot equivalent unit (FEU), a standard industry measure, fell 10%, while the number of containers carried on APL's ships increased by 9%. NOL said its fuel costs for the year to date increased by $183m, but didn't give a comparative figure. The firm's logistics business, APL Logistics, which is meant to reduce NOL's exposure to economic cycles in shipping, saw a 6% drop in core earnings before interest and taxes to $16m.
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chipchip66 Master	02-Nov-2006 20:59        chipchip66 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	may move south to around $1.80++ in the short to medium term. trade with care
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jackjames Elite	02-Nov-2006 19:27        jackjames About Contact  Quote this Post!
x 0   x 0  Alert Admin	ho ho, another boat sinking tomorrow ....
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YongJiu Veteran	02-Nov-2006 19:11        YongJiu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Verdict falls 61 pct by Bloomberg 3 days ago Singapore's NOL Q3 net profit falls 49 pct yr-on-yr but beats forecasts SINGAPORE (XFN-ASIA) - Neptune Orient Lines Ltd said its net profit fell 49 pct year-on-year to 127.34 mln usd as falling freight rates and higher fuel costs continued to dampen earnings.      The net profit, however, beat the 25-120 mln usd forecasts of analysts polled by XFN-Asia.      While NOL incurred a 6.53 mln usd loss at the pre-tax level, compared with a pre-tax profit of 267.47 mln usd a year ago, the company said its bottomline was bolstered by a 127.34 mln usd tax writeback following changes to the tax treatment of its US-flagged vessels.      Prior to the changes, revenue earned by these had been subject to US taxes and future tax liabilities were provided for the NOL group. With the changes, provisions for future tax liabilities of these vessels were written back.      "NOL's third-quarter results reflect significantly more challenging market conditions," newly-appointed group CEO and president Thomas Held said.      Average revenues per forty-foot equivalent unit containers were down 10 pct year-on-year in the third quarter, offsetting 9 pct volume growth during the quarter.
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YongJiu Veteran	31-Oct-2006 13:47        YongJiu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Neptune Orient May Say Third-Quarter Profit Fell on Fuel, Rates : Bloomberg By Kyunghee Park    Oct. 31 (Bloomberg) -- Neptune Orient Lines Ltd., which operates Asia's fourth-largest container shipping company, may say its profit fell for a fourth straight quarter after paying more for fuel and charging less for moving cargo.    Net income may slump 61 percent to $96 million, in the three months ended Sept. 22 from $248.6 million a year earlier, according to a median estimate of three analysts surveyed by Bloomberg News. Sales may drop 1.3 percent to $1.74 billion, the analysts said. The Singapore-based company is scheduled to announce earnings on Nov. 2.    Thomas Held, 49, Neptune Orient's incoming chief executive officer, faces the task of helping the shipping line overcome higher fuel costs and lower shipping fees. A.P. Moeller-Maersk A/S and other shipping companies have reported smaller profits in 2006 as a record number of vessels have entered the global fleet, pushing down rates.    ``Lower freight rates and higher fuel costs will continue to undermine Neptune Orient's earnings,'' said Rohan Suppiah, an analyst at Kim Eng Securities in Singapore, which has a ``sell'' recommendation on Neptune Orient stock. ``It may become more challenging next year considering the acceleration of new capacity coming in.''    Shares of Neptune Orient, which have dropped 18 percent this year, fell 3.8 percent to S$2.03 in the city state yesterday. The stock is the fourth-worst performer on the benchmark Straits Times Index.    German-born Held will become chief executive on Nov. 1, replacing David Lim, who is stepping down, Neptune Orient said on Oct. 25. Held was chairman and CEO of German logistics company Schenker AG for three years until January.                        Falling Rates    The average revenue per 40-foot container carried by Neptune Orient's APL Ltd. fell 9.9 percent from a year earlier to $2,652 in the three months ended Sept. 22, according to calculations based on the company's monthly data. The volume in the period rose 9.2 percent to 504,300 boxes.    Rates are falling as more ships enter the global fleet. Shipyards in South Korea, home to the world's largest, delivered 2.78 million compensated gross tons in the third quarter, 20 percent more than a year earlier.    ``We expect freight rates to continue to decline next year owing to an oversupply,'' Credit Suisse Group analysts Andrew Lee and Peter Hilton wrote in an Oct. 17 note. ``Freight rates could begin to decline during the traditionally slack demand period at the end of this year and early 2007,'' they said.    Neptune Orient's container shipping unit APL will take delivery of a total of 32 vessels over the next four years, mostly from 2007, according to APL Chief Executive Ron Widdows. The company will have four 8,100 20-foot ships through its cooperation with Mitsui O.S.K. Lines Ltd., Japan's second- biggest shipping line.                        Fuel Costs    Neptune Orient is paying more for fuel, as record oil prices push up the cost of fuel. Fuel increased the cost of moving a 40-foot container by 3 percent in the second quarter, the company said. Excluding fuel, cost per container was down 2 percent from a year earlier, it added.    Neptune Orient is recovering less than half of its additional fuel costs through surcharges, Widdows said in August. The company also hedges about 40 percent of its fuel needs to reduce the risk of sudden price fluctuations.     The price of 380 Centistoke marine bunker fuel, used by ships, averaged $318.50 per metric ton in Singapore in the third quarter, 11 percent higher than the same period a year earlier, according to Bloomberg data.    APL and the 10 other shipping lines in the Transpacific Stabilization Agreement have said they will seek a rate increase next year to help cover higher costs for moving goods to the U.S. from Asia.    Neptune Orient, which counts Singapore state-owned investment company Temasek Holdings Pte as a shareholder, got 82 percent of its total revenue from container shipping in the second quarter.                     A.P. Moeller, Evergreen    A.P. Moeller, the world's biggest shipowner, cut its profit forecast for the second time in three months on June 27 because of rising fuel costs and falling rates. Nippon Yusen K.K., Japan's largest shipping line, expects a pretax loss of 17 billion yen ($145 million) in the year ending March 2007 for similar reasons, it said in August.    Evergreen Marine Corp., Asia's largest container shipping line by fleet, may say third-quarter profit plunged 77 percent to NT$804 million ($24 million), according to the median estimate of four analysts in a Bloomberg survey. The Taipei- based company is due to report its earnings today. --Editor: Espina (nrd/bco/kre)
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YongJiu Veteran	26-Oct-2006 09:47        YongJiu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oh Deutschland CEO, guess NOL will sail slow & stabile for a while due to the German management style that I know. I was rather impressed by Deutsche Bahn operation system & the extensive coverage rail-way network as a whole for my 2yrs stay there =)
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Nostradamus Supreme	25-Oct-2006 23:44        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thomas Held, a trained economist who has a PhD in business studies, was most recently chief executive at Schenker, a logistics company owned by German rail operator Deutsche Bahn. He left Schenker in January this year after Deutsche Bahn's US$1.1b acquisition of U.S. logistics company Bax Global from security firm Brink's Co. According to reports in the Financial Times Deutschland and other German newspapers at the time, Held left the group following disagreements over Deutsche Bahn's plan to integrate Schenker more closely with the state-owned parent group. NOL also announced the resignation of its CFO Patricia Leung, effective Dec. 31 after just 18 months in the job. She will be replaced by Group Deputy President Cedric Foo from Jan 1, 2007. NOL said Leung had decided to pursue a career change and would take a break from work.
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shplayer Elite	25-Oct-2006 22:02        shplayer About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hmmmm...the whole episode seems extraordinarily suspicious. CEO David Lim's resignation was announced by the board and he did not seem aware that he had resigned. They hire this new guy, Held, who is currently unemployed. The announcement is made 1 week before he (Held) physically comes on board Concurrently, the CFO, Patricia Leung (FT from HK), who joined only 18 months ago, has resigned with apparantly no job. She leaves NOL on 31 Dec. With this chain of events, I cannot help but speculate there is much more than meets the eyes.
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allantanhc Veteran	25-Oct-2006 21:33        allantanhc About Contact  Quote this Post!
x 0   x 0  Alert Admin	SINGAPORE - Container shipping liner Neptune Orient Lines on Wednesday appointed Thomas Held as chief executive to replace David Lim, who quit earlier this year without giving a reason. Mr Held, a German national and chairman and CEO of logistics firm Schenker for three years until January 2006, will start his new job on Nov 1, NOL said. -- REUTERS
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mwzl95 Member	22-Oct-2006 14:57        mwzl95 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oh man... I'm getting a clear sell signal.
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