Shipping is dynamic and there are plenty of forces pulling both ways. But this week, the contradictions seem to have come to the fore. As container shipping enters an early winter lull, some major Asia-Europe liners are planning capacity cuts but others are planning to deploy super post-panamaxes in December. If liner discipline cracks, rates are only going to go lower but at the moment we are giving the carriers the benefit of the doubt. In the tanker sector, China’s future oil imports from Ghana promise to expand tonne miles but the ESPO pipeline threatens the reverse. And while bulk rates dropped last week, there has been a sharp recovery in property sales in the major cities of China. This can only mean that stronger steel production and iron ore imports lie ahead. We are OVERWEIGHT on containers but NEUTRAL on dry bulk and UNDERWEIGHT on tanker shipping. Our Outperform recommendations include Pacific Basin (TP: HK$7.35), Precious Shipping (TP: THB20), NOL (TP: S$2.25), and BLTA (TP: Rp680).

Vested.

Sold Half my NOL today when price hit $1.98.

Better take some profit off the table because falling to $1.98 is not a Good Sign.

If it continue to falls, I would sell all my NOL.

Just my personal opinion. Don't take it too seriously.

Good luck.

Hi snooty,

What I have heard are really just rumours and I cant elaborate on it cause they are still rumours afterall. Factually there are many favorable reports from analyst regarding NOL, I too believe their synergy with APL (which they paid a hell of a premium for 'dont know if this had anything to do with the previous poor performances') will eventually to pay off. The mgmt has been building their war chest lately plus their ability to reverse 6 qtrs of consecutive losses and posting a profit is also good news to me.

So far only victorf is the only one here with the crystal ball and he too calls 'Buy on dip' as at 15 Sep