CIMB Keeps Neptune Orient Lines (N03.SG) at Outperform with $2.25 target price, pegged to 1.5X P/BV; says 2.4% sequential drop in average rates to US$3,104/FEU ($4,061/FEU) in 4 weeks to September 17 “should not prevent NOL from recording strong 3Q earnings” as 3Q average rate of US$3,120/FEU (forty-foot equivalent unit) +12% from 2Q “and is just a whisker away from the peak rate of US$3,127/FEU of 3Q08.”
Posts Tagged ‘FEU’
NOL says container shipping volumes rose 29% from May 29 to Jun 25
July 19th, 2010 |
No Comments
NOL says for the four weeks of Period 6 in 2010 (May 29 to Jun 25) container shipping volumes increased 29% to 221,900 FEU (Forty-foot Equivalent Unit) over the same period last year mainly due to higher volumes carried from all major trade lanes, particularly the Transpacific and Intra-Asia trade lanes.
Average revenue per FEU was US$2,892 ($3,993) or 32% above the same period last year, due to improved core freight rates in the major trade lanes including the Transpacific trade lane.
P6 YTD, 2010 container shipping volumes increased 39% to 1,347,500 FEU from 970,600 FEU while average revenue per FEU increased 11% to US$2,643 from US$2,375.
{jcomments on}
NOL says container shipping volumes rise 63% for Dec 26–Feb 5
March 1st, 2010 |
No Comments
Neptune Orient Lines says for the six weeks of P1 2010 (Dec 26 to Feb 5), container shipping volumes increased 63% to 307,400 FEU (Forty-foot Equivalent Unit) while average revenue per FEU declined 9% to US$2,417 ($3,400) over the same period last year.
NOL says shipping volumes rose 43% for Nov 14–Dec 25
January 25th, 2010 |
No Comments
Neptune Orient Lines says shipping volumes increased 43% y-o-y to 312,500 FEU (Forty-foot Equivalent Unit) for the six weeks of Period 12 from Nov 14 2009 to Dec 25 2009 while average revenue per FEU declined 25% to US$2,189 over the same period last year.
The improvement in volume was due to higher volumes lifted in all major trade lanes. Lower average revenue per FEU was due to lower core freight rates, lower bunker recovery and changes in trade mix.
2009 container shipping volumes declined 7% while average revenue per FEU declined 25% over 2008 levels.
{jcomments on}
Container shipping volumes up 23% y-o-y from Oct 17–Nov 13 says NOL
December 7th, 2009 |
No Comments
Container shipper Neptune Orient Lines says for the 4 weeks from Oct 17 to Nov 13 (Period 11), container shipping volumes increased 23% y-o-y to 208,000 FEU (Forty-foot Equivalent Unit) while average revenue per FEU declined 28% y-o-y to US$2,239 ($3,109).
The increase in volume was mainly due to higher volumes lifted in several trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery.
P11 YTD, 2009 container shipping volumes declined 12% to 1,976,200 FEU while average revenue per FEU declined 24% to US$2,301 over P11 YTD, 2008 levels.
{jcomments on}
NOL says container shipping volumes up 1% y-o-y from Aug 22 to Sept 18
October 12th, 2009 |
No Comments
Neptune Orient Line says in Period 9, or the four weeks from Aug 22 to Sept 18, container shipping volumes increased 1% y-o-y to 205,700 FEU (Forty-foot Equivalent Unit) while average revenue per FEU (Forty-foot Equivalent Unit) declined 29% to US$2,247 ($3,146) over the same period last year.
NOL says the increase in volume was mainly due to higher volumes lifted in several trade lanes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery.
{jcomments on}
NOL says container shipping volume fell 7% from July 25–Aug 21
September 14th, 2009 |
No Comments
Neptune Orient Lines says for the four weeks (Period 8) from July 25 to Aug 21, container shipping volumes declined 7% to 192,800 FEU (Forty-foot Equivalent Unit) from 208,200
FEU while average revenue per FEU declined 30% to US$2,189 ($3,120) from US$3,116 over the same period last year. The decrease in volume was due to the decline in demand on nearly all major trade lanes, partially offset by improvement in Intra-Asia trade volumes. Lower average revenue per FEU was due to lower core freight rates and lower bunker recovery. P8 YTD, 2009 container shipping volumes declined 20% while average revenue per FEU declined 23% over P8 YTD, 2008 levels.
{jcomments on}