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Posts Tagged ‘Neptune Orient’

Sâ€™pore NOL carries 26% more cargo in 7 weeks to Dec 31

January 31st, 2011 | No Comments

Neptune Orient Lines (NEPS.SI) said on Monday its container shipping volumes for the seven weeks to Dec 31 rose 26% from a year ago, helped by higher traffic on the intra-Asia and Asia-Europe routes.

NOL, the world’s sixth largest container shipping firm, carried 394,500 forty-foot equivalent unit (FEU) during the seven-week period, up from 312,500 FEUs a year ago.

Volumes rose 8% over the same period last year on a normalised six-week period, the firm said.

The average revenue per FEU increased 21% year-on-year over the same period to US$2,647 ($3,396) per FEU, helped by improved freight rates on major trade lanes, in particular Tran-pacific and Asia-Europe.

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Shares flat at midday, Chinaâ€™s property curbs weigh

January 27th, 2011 | No Comments

Singapore shares were flat at midday on Thursday, weighed by China’s fresh measures to cool the property market, but container shipping firm Neptune Orient Lines (NEPS.SI) led gains on hopes it will report strong earnings.

By the midday break, the Straits Times Index (STI) <.FTSTI> was up 3.26 points at 3,224.04. The total value of shares traded in the morning session was $838.8 million, up from $815.1 million on Wednesday.

NOL +2.8%; rebounding on oversold conditions

January 27th, 2011 | No Comments

Neptune Orient Lines (N03.SG) rises 2.8% to $2.24, rebounding after 5 sessions of declines amounting to 6.4%, which took the stock to its $2.16 low yesterday, an area where AmFraser’s Najeeb Jarhom says there is multi-year support.

NOL down on oversupply, falling rates

January 7th, 2011 | No Comments

Shares of Singapore-listed container shipping firm Neptune Orient Lines (NEPS.SI) fell as much as 2.5% on Friday because of oversupply in the industry and falling container rates.

There is also general negative sentiment in the shipping industry following floods in Australia, although it is not directly affecting container traffic.

NOL down on Australia floods

January 7th, 2011 | No Comments

Shares of Singapore-listed container shipping firm Neptune Orient Lines (NEPS.SI) fell as much as 2.5% on Friday as the floods in Australia, a major coal supplier, were seen to likely reduce shipments of the commodity.

At 0251 GMT, NOL shares were down 2.1% at $2.33 on a volume of 2.6 million shares.

NOL cut to Hold from Buy by Phillip; Eyes $2.41

December 17th, 2010 | No Comments

Phillip Securities downgrades Neptune Orient Lines (N03.SG) to Hold from Buy due to limited upside of 11.6% from current share price to fair value estimate of $2.41, which is raised from $2.36 due to higher estimates.

The house is now more optimistic on the outlook of container shipping industry, while “NOL has also ordered new container vessels, which shows it is confident about the future.”

NOL off 1.4%; MS bearish on freight rates N/T

December 7th, 2010 | No Comments

Neptune Orient Lines (N03.SG) off 1.4% at 4-session low $2.18, with latest operating data affirming expectations for freight rates to remain soft in near term. Average revenue per box down 4.1% sequentially during 4 weeks ended November 12, marking 3rd consecutive fall.

NOL carries 6% more cargo in 4 weeks to Nov 12

December 7th, 2010 | No Comments

Singapore’s Neptune Orient Lines (NEPS.SI) (NOL), the world’s sixth-largest container shipping firm, carried 6% more containers in the four weeks to Nov 12 compared with a year ago.

NOL said in a statement it shipped the equivalent of 220,800 40-foot containers (FEU) on its vessels in the period, up from 208,000 a year earlier, due mainly to higher volumes carried on the intra-Asia and Asia-Europe trade lanes.

The average revenue in the period from each container was $3,649, up 25% from the year ago period.

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NOL raised to Hold by Citi; Less pessimistic on 2011

November 23rd, 2010 | No Comments

Citigroup upgrades Neptune Orient Lines (N03.SG) to Hold from Sell, says FY11E P/B at 1.2x looks fair vs liner peers, fair vs FY11E 11% ROE.

Raises target price to $2.40 from $1.80 due to higher BVPS estimates in line with higher earnings forecasts, which Citi raises by 23% in FY11E, 178% in FY12E (off low base).

"We turn less pessimistic on 2011E outlook (for freight rates) on hopes of increased capacity discipline. We turn more constructive on 2012+ outlook, as new supply appears to be limited and shipyards’ 2012 slots are fully booked. We see upside to 2012+ freight rates."

Adds, key downside risks for stock include faster-than-expected U.S. consumer slowdown, less-than-expected supply, capex discipline by major industry players, faster-than-expected onset of additional capacity.

Shares down 0.9% at $2.16.

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NOL cut to Neutral by Macquarie; $2.25 target

November 11th, 2010 | No Comments

Macquarie downgrades Neptune Orient Lines (N03.SG) to Neutral vs Outperform, says Dow Jones.

“We have now had two updates (from the company) with lower rates and could see a few more as the slack season progresses. This in turn could weaken sentiment on the shares in the near term,” says the research house.

But notes, container shipping group has been shifting vessels to buoyant intra-Asia routes from less busy trade lanes. Cuts target price to $2.25 vs $2.50, based on 1.2x FY11 P/B, to reflect lower SGD-denominated book value as company reports earnings in USD but shares trade in SGD. Stock +1.3% at $2.27.

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NOL +5.0%; Fed, liquidity behind rally: DBS Vickers

November 3rd, 2010 | No Comments

Neptune Orient Lines (N03.SG) +5.0% at $2.30 in strong volume, container shipper +11% over last 5 days, HK-listed peers also rallying; “There is some talk of this (rise) being in anticipation of Christmas demand, but the high point has already come and gone this year; in terms of volumes, we are beyond the peak already,” says DBS Vickers analyst Suvro Sarkar.

NOL up on hopes of year-end volume surge

November 3rd, 2010 | No Comments

Shares of Singapore’s Neptune Orient Lines <NEPS.SI> rose as much as 3.7% to a six-month high on Wednesday, on hopes it will benefit from a rise in shipping volume ahead of the peak year-end holiday season.

Neptune Orient Lines rated ‘buy’ by OCBC

October 21st, 2010 | No Comments

OCBC Investment Research in an Oct 20 research report says: “Neptune Orient Lines (NOL) reported its 3Q10 results with revenue accelerating 55% y-o-y and 15% q-o-q to US$2.4 billion.

Neptune Orient jumps most in three months on earnings: Update

October 20th, 2010 | No Comments

Neptune Orient Lines, owner of Asia’s second-largest container company by capacity, rose the most in more than three months after reporting a better-than- expected profit on higher freight rates and increased trade.

Neptune Orient rose 3.4%, the biggest advance since July 8, to close at $2.13 in Singapore. The stock was the second-best performer on the Straits Times Index today.

Phillip ups NOL to Buy vs Hold; ups target 14.6%

October 20th, 2010 | No Comments

Phillip upgrades Neptune Orient Lines (N03.SG) to Buy from Hold, raises target to $2.36 from $2.06; says 3Q net profit of US$282 million ($370.2 million) topped house’s forecast by 80.8%, revenue 4.3% higher than estimate.

Raises 2010 net profit estimates by 52.0% to US$384 million, 2011 forecast +57.1% at US$457 million, 2012 forecast +46.5% at US$593 million due to better shipping volumes, rates.

UOB keeps NOL at Buy; ups 2010 earnings forecast

October 20th, 2010 | No Comments

UOB KayHian reiterates Neptune Orient Lines (N03.SG) at Buy, with $2.55 target; expects 4Q10 container shipping markets to stand beyond market expectations, which “fairly low at the moment,” despite seasonal weaknesses in volume and rates.

Neptune Orient shares gain after profit beats analyst estimates

October 20th, 2010 | No Comments

Neptune Orient Lines, owner of Asia’s second-largest container company by capacity, gained the most two weeks in Singapore trading as higher freight rates and increased trade helped it report better-than-expected profit.

Neptune Orient rose 2.4%, set for the biggest advance since Oct. 6, to $2.11 as of 9:33 a.m. in Singapore. The stock was the best performer on the Straits Times Index.

STI likely lower; Will take bearish US cue

October 20th, 2010 | No Comments

STI likely to fall, tracking regional bourses’ weakness after US stocks slumped on Tuesday on increased concern about US foreclosure crisis, Beijing’s rate hike, says Dow Jones.

Index ended Tuesday +0.3% at 3,192.29.

“The local market has taken on a life of its own lately, although today we’ll probably take the US cue and take some profit,” says analyst at local brokerage.

Notes, Dow Jones Industrial Average futures down around 27 points, Nikkei opened down 1.5% “which is never good news.” Neptune Orient Lines (N03.SG), Osim International (O23.SG) in focus after they both reported strong sets of 3Q results. Support for index at 3,142 last week’s low, resistance at 3,220.

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NOLâ€™s 3Q profit beats forecasts: Update

October 19th, 2010 | No Comments

Neptune Orient Lines (NOL)(NEPS.SI), the world’s fifth largest container shipping firm, reported better than expected third quarter profit on Tuesday, rebounding from a loss a year ago thanks to a recovery in cargo volumes and rates.

The company, around two-third owned by Singapore state investor Temasek Holdings (TEM.UL), said it expects to remain profitable for the full 2010 year.

Neptune Orient has profit as container rates jump 41%

October 19th, 2010 | No Comments

Neptune Orient Lines, owner of Asia’s second-largest container line, reported a better-than- estimated quarterly profit as rebounding world trade helped cause a 41%t jump in freight rates.

The company made a US$282.3 million ($368.5 million) profit in the three months ended Sept. 17, compared with a US$138.9 million loss a year earlier, it said in Singapore exchange statement today. That beat the US$157.3 million average of three analyst estimates compiled by Bloomberg. Sales jumped 55 % to US$2.4 billion.