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NOL
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Pinnacle
Master |
31-Oct-2007 22:21
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Neptune Orient bullish as Q3 profit rises 50 pct Singapore's Neptune Orient Lines <NEPS.SI> (NOL) on Wednesday posted a 50 percent gain in third-quarter net profit, and said it expected the rise in container rates and shipments to continue next year. "Over the first nine months of this year, improving market conditions have led to robust volume growth and higher freight rates in key trade lanes," NOL said in a statement. "We expect this momentum to continue into 2008," it added. NOL, which owns APL, the world's eighth-largest container shipping company, said its earnings for the three months to September rose to $191 million from $127 million a year earlier. Its revenues rose 15 percent to $2.03 billion during the period. APL carried 1.7 million forty-feet equivalent units of cargo in the nine months to September, 11 percent more than the same period last year. The increase was driven mainly by the trans-Pacific and intra-Asia trade lanes, NOL said. In Singapore, the world's largest container transhipment hub, container volume at state-owned port operator PSA climbed 13.4 percent in the first nine months of the year. NOL said last month it shipped 15 percent more containers during the four weeks to September 21, compared with a year earlier. Average revenue per forty-feet equivalent unit container rose 10 percent to $2,922 from a year ago. NOL's logistics business, however, saw a 14 percent fall in earnings before interest and tax to $12 million during the quarter due to higher operating expenses. Revenues from the logistics unit rose 2 percent from a year ago to $318 million. Brokers polled by Reuters Knowledge expected NOL to report a 6.3 percent rise in full-year earnings to $386.7 million from $363.7 million a year earlier. APL competes with other shipping lines such as Danish shipping group A.P. Moller-Maersk <MAERSKb.CO> and Taiwan's Evergreen. |
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ChinChye
Member |
31-Oct-2007 21:42
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Steady... will the share cheong tmr??? keke... |
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Pinnacle
Master |
31-Oct-2007 17:47
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Singapore's Neptune Orient Q3 profit up 50 pct SINGAPORE, Oct 31 (Reuters) - Singapore's Neptune Orient Lines State-controlled NOL, which owns APL, the world's eighth largest container shipping company, said its earnings for the three months to September was $191 million compared with $127 million a year earlier. Quarterly revenues rose 15 percent to $2.03 billion. |
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zhuge_liang
Supreme |
16-Oct-2007 22:35
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NOL rose after the firm posted its latest operations update and raised hopes of strong earnings. It said that it moved 15% more containers in the 4 weeks ending Sep. 21 compared to the same period a year ago, and average revenue per 40-foot container rose 10% versus last year. Strong growth in NOL's Q3 volume and freight rates mean the company's Q3results may be higher than expected, Morgan Stanley analyst Sophie Loh and Chin Y. Lim said in a client note. They have an "equal-weight" rating on the stock and a price target of $5.65. |
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shplayer
Elite |
16-Oct-2007 21:11
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pauleong, See attached link. The positive sentiment to NOL's price today is the indication that container freight rates may be turning around. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_66DB1C34339DFFAB48257375002E82E5/$file/NOL_Operating_Performance_for_P9_2007.pdf?openelement |
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pauleong
Member |
16-Oct-2007 13:59
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Can someone tell me, oilprice reached all time high of usd 86 per barrier and now NOL shown sign of chiong now S$5.75. |
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Pension
Elite |
14-Sep-2007 13:37
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once the oil price hit usd 100 per barrel, you may notice many container ship parking at our eastern or western anchoarge. I think the current share price is very high and not worth buy it. |
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zhuge_liang
Supreme |
14-Sep-2007 12:14
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Hi dinghoki. Pls mention the name of the broker in future. |
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ghlau935
Veteran |
14-Sep-2007 10:36
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DJ MARKET TALK: JPMorgan Cuts NOL To Neutral, Keeps S$5.50 Target
0122 GMT [Dow Jones] STOCK CALL: JP Morgan cuts Neptune Orient Lines (N03.SG) to Neutral from Overweight; keeps S$5.50 target. "Exposure to the U.S. has become a negative driver for the stock recently; concerned that softening US retail sales will further reduce its volume in the Transpacific trade." Notes U.S. retail sales grew only 3.6% in first seven months of the year, slowest since 2003; retail sales highly correlated with the Transpacific container freight market; says conditions could slow further. Shares currently down 1.8% at S$5.40. (KIG) |
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Nostradamus
Supreme |
13-Sep-2007 23:43
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Also falling due to high oil prices which will increase transport costs. |
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dinghoki
Member |
13-Sep-2007 11:23
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Downgrade on US exposure ? We downgrade to Neutral, maintain our PT at S$5.5: We decrease our 2007 and 2008 earnings estimates for NOL as we are concerned that softening US retail sales will further reduce its volume in the Transpacific (TP) trade. We also increase our operating cost estimates by 3% to factor in the higher-thanexpected operating costs in 1H07. Our Mar-08 price target of S$5.5 implies 1.9x FY08E P/BV and 7x EV/EBITDA. ? A solid firm exposed to the weaker link of the container trade: NOL has the highest revenue exposure (50% of its FY08E revenue) to the TP trade in our coverage universe. Its strength in this trade has been NOL?s competitive advantage since it acquired APL in 1997. Exposure to the US, however, has become a negative value driver for the stock recently given the weakness of the US economy relative to Europe and the rest of the world. ? US retail data a potential catalyst for the stock: The US census retail sales data (released in the middle of each month), same store sales figures, and the sales forecast of large US retailers such as Walmart, and Target, are particularly important indicators of NOL?s medium-term outlook. Risks to our PT are the return of corporate development stories, such as: (1) the merger story between NOL and other liners; and (2) terminal disposal play. PS: Personal opinion: Worth holding this stock. Transportation rate will increase by 2% in 2008 and 9% in 2009 repectively, according to yesterday's Today newspaper. |
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tradeling
Member |
13-Sep-2007 11:15
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Hi, Anyone know why NOL has been dropping for the past few days? Is there some re-rating by some fund manager? |
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tanglinboy
Elite |
10-Sep-2007 10:00
Yells: "hello!" |
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NOL is one of the top losers today. Is it profit-taking happening? |
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zhuge_liang
Supreme |
07-Sep-2007 21:54
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Neptune Orient Lines rose, tracking a rally in freight rates. "The bullish freight rate is what continues to drive the stock higher," said a dealer at a local brokerage. Analysts said the container shipping cycle is in the midst of a recovery which could last until '09, driven by rising demand for shipments from Asia to Europe. |
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zhuge_liang
Supreme |
21-Aug-2007 20:51
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NOL rose on investor hope that stronger freight rates will lift the company's earnings.
"We believe that NOL's strong operating data indicates positive earnings momentum for NOL and reinforces our view that the container shipping industry fundamentals remains sound despite slowing U.S. demand," Morgan Stanley analysts Sophie Loh and Chin Y. Lim said in a note. They said the recent price correction in the overall market provides "an attractive entry point" for NOL stocks. Credit Suisse, which has an "outperform" rating with a tp of $5.70, said in a note that it expects freight rates to go higher in Aug/Sep as the sector moves deeper into the summer peak season. NOL carried 10% more containers on its ships and recorded higher revenues per container in the 4 weeks to Jul 27 yoy. |
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zhuge_liang
Supreme |
16-Jul-2007 13:13
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Maybe time to take profit. Goldman Sachs has lowered its view of Asia's container shipping industry to "neutral" from "buy", saying stock valuations in the sector had run ahead of fundamentals. "While very positive about dry bulk shipping fundamentals and valuations, we believe container shipping valuations have run ahead of fundamentals," Goldman analysts Matthew Chan and Edwin Yeo said in a note to investors. "In 2006, investors were overly fearful of a potential downcycle in container shipping (obscuring even obvious deep value situations such as OOIL; we believe the pendulum has now swung too far the other way." |
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zhuge_liang
Supreme |
11-Jul-2007 01:06
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Shares of NOL, Yang Ming Marine Transport Corp and other Asian shipping lines surged after a media report said the region's shipping companies raised freight rates. Asian sea carriers on Jul 1 raised freight rates to Europe by US$300 per container, the Taiwan-based Commercial Times said, citing the Far Eastern Freight Conference. Starting in Aug, shipping companies will add a US$135 peak season charge for each 20-foot container, it said. Rod Riseborough, the London-based CEO of the freight conference, confirmed the rate increases in an e-mailed response to questions. He wouldn't say if all its members raised rates by the same amount. |
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zhuge_liang
Supreme |
03-Jul-2007 13:30
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It rose to a record high of $5.90 as investors expect freight rates to rally following recent ship purchases made by shipping firms.NOL said on 28/6 that it would buy 8 container ships worth a total of US$1 billion. "The shipping firms are buying new ships, and that's a good indicator that the companies are forecasting that freight rates will rebound," said a local dealer. STX Pan Ocean |
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dinghoki
Member |
03-Jul-2007 12:26
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Then why this counter is continuing growing up? Today even up 45cents!! Wow! |
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zhuge_liang
Supreme |
29-Jun-2007 00:16
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UBS cut its recommendation for NOL to "reduce" from "buy" and left its price target for the stock at $4.80. UBS analyst Alex Chang said in a note to investors that NOL's monthly operating data has been consistent with its forecasts. "In our OOIL report...we discussed the potential for OOIL to acquire NOL, Hapag Lloyd, or Wan Hai Lines. If a takeover of NOL were to be undertaken, we would not expect an offer price to significantly exceed the current NOL share price," Chang said. |
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