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Yes, most definitely long term. When the economy makes a turn for the better, most companies would rebound by then. The rate at which sectors would recover will differ. leaving my investment in NOL would mean foregoing potentially better returns elsewhere.
As far as AIG is concerned, it is heavily sedated with American taxpayers money. Under such state, delusional behavior of a sudden windfall is expected.
agree the economic can't be V-sharp and it's never happened in any economic crisis!!!
also expect that NOL will continue to lose moneny until next year. But the fact is that NOL has 1) Cash; 2) SGP Goverment support; 3) 8 cents devidend 4) share price much less than NAV. For a long-term investor, I still believe it's worth to invest at this point when most of guys has pessimistic view at this counter. Usually, when the economic is confirmed up, you've already miss the best price of NOL unless you are full-time trader. :)
So many examples in the market... how about AIG? suddenly it earn moneny lah... sorry,it's just my view...
They are looking at a V shaped recovery but just look at BDI.
BDIY:IND BALTIC DRY INDEX
| Value2,772.00 | Change-135.000 | % Change-4.644 | High2,772.00 | Low2,772.00 | Open2,772.00 |
Tek2009 ( Date: 07-Aug-2009 12:48) Posted:
| Citi and Philip poems recommand to call "BUY" and target $2.0 |
|
MFTs try to unload their stakes.... bleed so much still can up TP ??? both eyes paste stamp!
Those who bought @
1.61 yesterday will be chuckling loud all the way to the bank...
Citi and Philip poems recommand to call "BUY" and target $2.0
Where got....share still up... haha...
Wow, this is serious bleeding. Second quarter losses were not as bad.
el7888 ( Date: 06-Aug-2009 08:03) Posted:
NOL Posts First Half Net Loss of US$391 million
Singapore, 6 August 2009: Global container shipping, terminals and logistics group Neptune Orient Lines (NOL) today announced a net loss for the first half of 2009 (1H09) of US$391 million, compared with a net profit of US$196 million for the same period of 2008 (1H08).
For the second quarter of 2009 (2Q09), NOL recorded a net loss of US$146 million.
At the Core EBIT level NOL posted a loss of US$353 million for 1H09.
Revenue for 1H09 was down year-on-year by 37% to US$2.931 billion. |
|
Neptune Posts Third Consecutive Loss as Trade Slows (Update1)
By Chan Sue Ling
Aug. 6 (Bloomberg) --
Neptune Orient Lines Ltd., Southeast Asia’s largest container carrier, posted its third consecutive quarterly loss as the global recession pummeled trade and freight rates.
The
company posted a net loss of $146 million in the second quarter, compared with a net income of $76 million a year earlier, it said in a Singapore stock exchange statement today. Revenue fell 38 percent to $1.39 billion in the period.
Neptune Orient carried 19 percent fewer containers in the last quarter as European and U.S. consumers pared purchases amid the deepest recession in half a century. Chief Executive Officer
Ron Widdows took a pay cut, idled ships and accelerated cost cuts after freight rates sank to the
lowest level in six years.
“It won’t be easy for them to raise rates,” said
Alfred Low, an analyst at Phillip Securities Research Pte in Singapore. “The challenge now is excess capacity.”
The
stock fell 1.7 percent to S$1.69 in Singapore trading yesterday. The results were released before the market opened for trading. Of the 18 analysts tracked by Bloomberg, 11 are recommending that investors sell the stock, three with “buy” calls, with the remainder having “hold” ratings.
Depressed Conditions
“Business conditions remain depressed,” Widdows said in a statement today. “This continued to impact our financial performance.”
Global trade may shrink 10 percent this year, the most since World War II, due to sluggish demand, according to the
World Trade Organization. Container lines worldwide could rack up $10 billion of losses this year, Lloyd’s List said, citing Mitsui O.S.K. Lines Ltd. President
Akimitsu Ashida.
Widdows, who became chief executive last year, took a 20 percent cut in basic pay voluntarily from March, while
non- executive directors have accepted a 20 percent reduction in their fees. The company aims to more than double its cost- savings target for the year to as much as $550 million.
For the year, Neptune Orient may post a loss of $518.5 million, according to the
median forecast of 10 analysts surveyed by Bloomberg. That would be the biggest loss in at least 20 years, according to Bloomberg data.
Raising Rates
Shipping companies are now trying to increase freight rates after an April attempt collapsed amid rising competition and a 20 percent drop in demand, Transpacific Stabilization Agreement, a group of 14 members including APL and China Cosco Holdings Co., said last month. Average revenue per container sank as much as $1,200 from October to May, the TSA said.
In the four weeks ended June 26, Neptune Orient’s average revenue per FEU was $2,190, the lowest in at least six years according to the company’s Web site.
Box-ship lay-ups may increase by 66 percent to 2 million twenty-foot containers by early next year, said Anthony Randall, Australian sales director at the container unit of A.P. Moeller- Maersk A/S, the world’s biggest mover of boxes by sea. Ships with a combined capacity of 800,000 containers are due to be delivered in the second half of this year, followed by a further 1.7 million boxes’ worth in 2010, he said last month.
“While liners may have seen the worst, a rapid recovery is not on the cards due to shaky global consumption and a large inventory overhang,”
Rigan Wong and
Horng Han Low, analysts at Citigroup Inc. wrote in a July 20 report. “Any significant hike in rates is likely to be eroded due to vessel overcapacity.”
NOL Posts First Half Net Loss of US$391 million
Singapore, 6 August 2009: Global container shipping, terminals and logistics group Neptune Orient Lines (NOL) today announced a net loss for the first half of 2009 (1H09) of US$391 million, compared with a net profit of US$196 million for the same period of 2008 (1H08).
For the second quarter of 2009 (2Q09), NOL recorded a net loss of US$146 million.
At the Core EBIT level NOL posted a loss of US$353 million for 1H09.
Revenue for 1H09 was down year-on-year by 37% to US$2.931 billion.
HONG KONG (MarketWatch) -- Asian markets ended mostly higher Monday,
with resource and shipping shares jumping in line with commodity prices
and as data showed Chinese manufacturing activity continued to gather
pace in July.
Baltic Dry Index comparison with other commodities
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
useful for NOL, this is good to keep as the prices is way undervalue, when the prices for freight soars maybe in a year time NOL will follow.
This is a futile question to ask..
Any reason NOL up 5 today? Is it for Q2 result?
rate change apparently provide some power. BDI dropped last Friday, yet this big ship can move up..
cannot really say a company lost price must drop. perhaps price dropped already totally factored in
NOL Q2 result is this Thursday 6 Aug.
red red one still can up...?
i m still waiting for the right issue price
| NOL gains 0.6% on rate increase agreement |
| WRITTEN BY BLOOMBERG |
| FRIDAY, 31 JULY 2009 10:02 |
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, gained 0.6% to $1.66. The company and nine other container lines agreed to raise rates for US-Asia shipments from Sept. 1, according to an e-mailed statement from the Westbound Transpacific Stabilization Agreement. |
perhaps it has different view from citi. still not so undrstaood. :)
Got a recent news from Edge S'pore:
| Neptune Orient Lines cut to ‘underweight’ at Morgan Stanley |
| Written by Bloomberg |
| Friday, 24 July 2009 10:38 |
|
Neptune Orient Lines was cut to “underweight” from “equal-weight” at Morgan Stanley, which said the stock’s current valuations are above historical means and that earnings in the second half of this year and in 2010 could “disappoint” investors.
|
