Neptune Orient Lines, Southeast Asia’s biggest container carrier, advanced to the highest in almost a year on speculation rates and traffic are recovering.
NOL jumped as much as 5.9% to $1.98 today and traded at $1.93 as of 10:55 a.m. in trading.
“Shares have gone up fairly quickly on expectations that shipping volumes have gone up and rates have stabilized,” said Alfred Low, an analyst at Phillip Securities Research Pte in Singapore. “They are likely to report a smaller loss for the third-quarter.”