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NOL
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sgng123
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04-Sep-2014 02:14
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Ship want t o surge but someone is trying to suppress it by selling heavily with the equal buying force. Another kaboki show by house traders, short until cannot then proceed with a buyback. |
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hem2998
Veteran |
04-Sep-2014 00:16
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Only 329lots shorted today.
Wonder whats cooking
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Lucky03
Elite |
03-Sep-2014 23:38
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Drewry: East-west contract freight rates decline
Grace M. Lavigne, Associate Web Editor | Sep 02, 2014 4:37PM EDT Ocean freight rates for shipments under contract on major east-west routes decreased 6 percent from March through July, allowing shippers to reduce their costs, according to results from Drewry?s Benchmarking Club. The decline ― which is based on contract freight rate data provided confidentially by Asian, American and European retailers and manufacturers to the Benchmarking Club ― implies that shippers who negotiate well with carriers can reduce their freight spending, despite the recent strengthening of ship load factors, Drewry said. OOCL noted in its interim earnings reports that load factors were higher in the second quarter than in the same period in 2013, although the difficulties in achieving profitable freight rates could still be seen in its revenue-per-container results. Maersk Line also mentioned improved vessel utilization in the second quarter in its earnings release, despite its uncertainty about how rates will fare in the second half of 2014. ?The reduction in average east-west contract rates follows the renewal in May of many trans-Pacific contracts, at lower rates,? said Philip Damas, director of Drewry Supply Chain Advisors, the logistics consultancy arm of Drewry, in a press release. Drewry said it believes that the ongoing decline in contract freight rates is largely driven by the reduction of container carriers? own unit costs, as well as the tendency of shippers to centralize their contract negotiation tenders. CMA CGM recently reported that profit was higher in its second quarter due to a sharp decline in unit costs, an area where smaller carriers have had less success. Drewry?s Benchmarking Club, which was founded in early 2014, comprises shippers with annual freight volumes ranging from 5,000 TEUs to more than 300,000 TEUs. Through the club, members can confidentially compare their anonymous contract rates with those of other shippers. They are also able to make comparisons against predefined categories of small, medium and large shippers who are moving cargo on the same routes. Due to non-disclosure agreements with all shipper members of the Benchmarking Club, Drewry cannot share detailed cost benchmarking intelligence with companies that are not members of the club, but it can provide an east-west trades contract index. Contact Grace M. Lavigne at [email protected] and follow her on Twitter: @Lavigne_JOC. |
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Lucky03
Elite |
03-Sep-2014 14:27
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China outlines plan to modernise shipping industry, shares jump
Reuters 9 mins ago SHANGHAI (Reuters) - China published a set of guidelines to support and develop its shipping industry on Wednesday, sending shares in shipping firms such as China COSCO (1919.HK) and China Shipping higher. The world's biggest trading nation is focusing on the shipping industry as it looks to secure its supply chains and grows more assertive over territorial disputes in the South China Sea, unnerving neighbours such as Vietnam and Japan. Learn Spanish in Mexico LearnSpanishMexico.com China will introduce tax and other regulatory reforms while pushing shipping firms to upgrade and modernise their fleets to build an efficient, safe and environmentally friendly shipping system by 2020, the State Council, China's cabinet, said in a statement published on its website. "Shipping is a key component in economic development and plays an important role in protecting a country's maritime rights and economy, in promoting exports and industrial development," it said. The government would also encourage firms to retire vessels early, reducing supply, and develop shipping centres like Shanghai and Dalian to compete eventually with the likes of London in shipping services. Shares in state-backed China Shipping were up 6.8 percent at 05:40 a.m. BST, while Hong Kong-listed shares in China COSCO were 1.2 percent higher. China International Marine Containers Group Ltd was trading 7.6 percent higher. Barclays analyst Jon Windham said the sector - weighed down by over-capacity after too many ships were ordered before the global financial crisis - was sensitive to any good news even though the government's announcement lacked details. "There's some potential that there's going to be some policy support, likely in the form of some tax policy," he said. While foreign firms such as Denmark's A.P. Moller Maersk (MAERSKb.CO) have managed to remain profitable by cutting back on costs, China COSCO and China Shipping have suffered heavy losses attributed to the poor trading environment. China's shipping industry, comprised of more than 240 firms, carried only a quarter of the country's trade and lagged behind other nations in terms of services and crew size, deputy transport minister He Jianzhong told reporters at a briefing in Beijing. He said shipping firms should improve their corporate structure and costs, and aim to achieve scale to boost their competitiveness. (Reporting by Brenda Goh Editing by Kazunori Takada and Stephen Coates) |
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Lucky03
Elite |
03-Sep-2014 14:21
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Yep, NOL will need blessing of TH ! Volume picking up today. Maybe something brewing again.
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hem2998
Veteran |
03-Sep-2014 07:37
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TH busy with Statschip pac... )
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Lucky03
Elite |
03-Sep-2014 01:30
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Today marks the 2nd week since it was reported that NOL is exploring divestment of its logistics line of business. It should not take more than 4 weeks for any reasonable assessment to be made if NOL is selling or going for IPO. | ||||
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Lucky03
Elite |
03-Sep-2014 01:28
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SPOT rates on Asia-Europe routes slipped 2.1 per cent to US$1,083 per TEU for the fourth straight week, and down $100 year on year, according to data from the Shanghai Containerised Freight Index (SCFI).
Monday, 01.Sep.2014, 18:29 (GMT) A-E rates off 2.1pc to US$1,083/TEU, transpac up 6.6pc to $2,178/FEU SPOT rates on Asia-Europe routes slipped 2.1 per cent to US$1,083 per TEU for the fourth straight week, and down $100 year on year, according to data from the Shanghai Containerised Freight Index (SCFI). Mediterranean rates fell 3.4 per cent last week to $1,378 per TEU, according to SCFI data, but were up year on year by $167. Transpacific rates to US ports from Asia were up 6.6 per cent to $2,178 per FEU to west coast ports and rose 4.4 per cent to $4,344 per FEU to American east coast ports. Drewry's Hong Kong and Los Angeles benchmark rate was unchanged at $2,075 per FEU for a second straight week. But Drewry expects the benchmark to rise in response to the September rate hikes, but weaken as prices to the US west coast decline as more tonnage chases declining cargo volumes. With additional capacity in the market, Asia-Europe carriers have resorted to cutting rates to fill ships, a typical move in these situations, said Freight Investor Services broker Richard Ward. Rates to Europe have now fallen $372 since August 1, perhaps signalling an end to the peak season, he told Lloyd's List. Zim's announced ad hoc sailings could "negatively impact any further attempts to increase rates during the remaining four months of the year? he said. "With one vessel planned each month for the next three months, in addition to their August sailing, reports now suggest that Zim will continue to offer rates into the market $300 per TEU below prevailing levels,?he said. |
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Lucky03
Elite |
03-Sep-2014 01:11
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Fuel cost is a major cost component for liners.
Stocks decline as oil producers tumble Kate Gibson | @CNBCKateGibson U.S. stocks fell on Tuesday, with the S&P 500 retreating after hitting another intraday record, as energy companies dropped along with the price of oil. "This sharp decline in commodity prices is certainly driving down materials and metals names," said Peter Boockvar, chief market analyst at the Lindsey Group. Investors largely looked beyond data showing a gauge of manufacturing at its loftiest level in three years. "It's great news but not new news," said Art Hogan, chief market strategist at Wunderlich Securities, of he Institute for Supply Management's index of factory activity, which last month rose to 59, the highest since March 2011, from July's 57.1. Read MoreU.S. manufacturing soars to three-year high "The ISM is a great reading and is a confirmation of what the market has done," said Hogan, referring to Wall Street's advance, which has the S&P 500 hitting record highs and up more than eight percent this year. Separately, the Commerce Department reported construction spending rose 1.8 percent in July. Financial-data firm Markit reported its final measure of U.S. manufacturing in August came in at 57.9, down from an initial read of 58. |
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Lucky03
Elite |
03-Sep-2014 01:06
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The slide in bunker prices last few months is good news for liners.
Bunker fuel prices end slide Corianne Egan, Associate Editor | Sep 02, 2014 12:28PM EDT Rotterdam high sulfur bunker prices rose 1 percent last week, and low sulfur bunker fuel followed suit, with a gain of 0.6 percent. Full-size chart After weeks of declining prices for both high and low sulfur bunker fuel, prices rebounded last week. High sulfur bunker prices rose 1 percent last week, and low sulfur bunker fuel followed suit, with a gain of 0.6 percent. Although the prices of fuel in Rotterdam, a global indicator of bunker prices, rose only slightly, the uptick ends 10 weeks of declines in low sulfur bunker prices and 3 weeks of drops in the price of high sulfur bunker fuel. Low sulfur fuel averaged $573.10 per metric ton last week, according to numbers provided by BunkerVision. High sulfur fuel averaged $566.10 per metric ton. One metric ton is equivalent to about 6.4 barrels or 300 gallons. Bunker fuel prices typically follow the pricing of crude oil. BRENT, an index of spot market fuel prices, has also dipped in recent weeks, but was up last week. BRENT reported the price per barrel at $102.69 last week, up 50 cents from the week before. Oil prices are responding to a week of rising tensions in oil-rich Ukraine, as Russian forces continued fighting on the eastern part of the country. The Wall Street Journal also reports that European countries are set to meet this week to consider new sanctions on Russia, the second-largest oil producer in the world. U.S. diesel prices have fallen for eight straight weeks. Full-size chart The drop in oil prices has taken diesel prices for a ride as well. Diesel prices in the United States, as reported by the U.S. Energy Information Administration, dropped for eight straight weeks through last week, falling a total of 10 cents, or 2.4 percent, to $3.82 per gallon. High sulfur bunker prices at Rotterdam have dropped 4 percent, or $23.65 per metric ton, since Jan. 1. Low sulfur fuel is down 6.9 percent, or $42.65 per metric ton, since the beginning of the year. Contact Corianne Egan at [email protected] and follow her on Twitter: @CEgan_JOC. |
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Lucky03
Elite |
03-Sep-2014 00:40
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PUBLISHED SEPTEMBER 02, 2014
US manufacturing sector accelerates in August: ISM [NEW YORK] The pace of growth in the US manufacturing sector rose in August to its highest level since March 2011, according to an industry report released on Tuesday. The Institute for Supply Management (ISM) said its index of national factory activity rose to 59.0 from 57.1 the month before. The reading topped expectations of 56.9, according to a Reuters poll of economists. A reading above 50 indicates expansion in the manufacturing sector. The employment gauge slipped slightly to 58.1 from 58.2, below expectations for a read of 58.4. The new orders index rose to 66.7, up from 63.4 and marking its highest level since April 2004. The gauge of prices paid fell to 58.0 from 59.5, in line with expectations. - Reuters |
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Lucky03
Elite |
02-Sep-2014 22:09
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Air and ocean freight indicators stick in positive territory
Greg Knowler, Senior Asia Editor | Sep 02, 2014 6:41AM EDT The second-quarter recovery that gave air and ocean cargo such a welcome boost looks set to continue its momentum well into the second half as the latest economic and freight indicators show some positive numbers. Driving the optimism is the steady improvement of the U.S. economy, a confident and growing air freight market and factory output in China continuing its slow but steady growth. Growth in consumer spending in the U.S. is good news for cargo shippers as business conditions improve amid robust job growth, with the consumer confidence index up for the fourth consecutive month. U.S. housing starts surged to an eight-month high in July. Global shipping association BIMCO chief shipping analyst Peter Sand said the economic news from the U.S. showed that the world?s largest economy was ?getting better by the day? and leaving the poor first-quarter GDP behind. ?For an economy mainly driven by consumer spending this is good news for shipping ? in particular we expect this to positively affect demand for trans-Pacific container shipping ? but also to increase U.S. East Coast container imports,? he said. ?As containerized goods are predominantly consumer products, the improvement in the housing market also contributes to boosting confidence and shipping demand. Furniture and appliances are among the top categories of imported containerised goods into the U.S. from Asia, which is why we follow the housing market closely.? According to BIMCO data, U.S. West Coast imports show a 4 percent increase for loaded containers during the first seven months of 2014 over same period last year. U.S. East Coast improved by 8.8 percent in the first six months. Asia-to-Europe container volumes were up almost 8 percent in the first six months of the year, according to Container Trades Statistics, versus virtually no growth during the same period in 2013, and PIERS, the data division of JOC Group Inc., reported Asia-to-North America volumes were up 4.7 percent year-to-date through June, versus only 1.5 percent growth in the same period in 2013. Global air freight markets increased strongly in July as global business confidence and trade continued to improve, especially in the Asia-Pacific region, the International Air Transport Association (IATA) reported. The July figures, the latest available, showed a 5.8 percent increase in the amount of global freight carried per kilometre, recorded as freight tonne kilometre (FTKs). This was more than double the growth reported in June. But the Asia-Pacific region was the star performer. ?The 7.1 percent growth reported by airlines in Asia-Pacific is encouraging as it demonstrates a recovery in trade and a positive response to China?s economic stimulus measures,? said Tony Tyler, IATA?s director general and CEO. The fortunes of the region?s air cargo carriers are tied to the strength of major economies such as China, Japan and South Korea, which are expanding again after a slowdown at the start of the year. Factory output in China is another positive indicator, even though the official purchasing manager?s index (PMI) slid from 51.7 in July to 51.1 in August. The index tracks manufacturing activity in China?s factories and is a closely watched indicator of the health of the economy. A reading above 50 signifies growth. The HSBC-Markit PMI fell to 50.3 from July's 18-month high of 51.7, the lowest reading since May, although remaining in positive territory. Hongbin Qu, chief economist for China at HSBC, said although external demand showed improvement, domestic demand looked more subdued. ?Overall, the manufacturing sector still expanded in August, but at a slower pace compared to previous months,? he said. Contact Greg Knowler at [email protected] and follow him on Twitter: @greg_knowler. |
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Lucky03
Elite |
01-Sep-2014 12:21
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Agree with you on that. Looks like NOL will be stuck in current price range around 1.005 pending updates from the divestment plan.
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sgng123
Supreme |
01-Sep-2014 12:10
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The idea is to get NOL to drop it full service from factory to customers which is not sustainable under 1 flat freight rate for everything. Break up the supply line and focus on the profitable part and continue to cut fixed cost. Tearing up the terminal business and logistic business would make NOL more commercial and less corporate, operating like what maersk is doing, stripping out the extra service and focus on the main service of sea transportion. I believe NOL still got lot of fat meat to be tear off and more cost reduction to be made. Reduce taxes incurred and cut down on manpower needed is the way to go, it is jsut like what is happening in singapore, foreign labour tightening and companies forced to restructure or shift away overseas.
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Lucky03
Elite |
31-Aug-2014 23:13
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CSCL returns to profit in H1
By Lee Hong Liang from Singapore China Shipping Container Lines (CSCL) returned to profit in the first half ended 30 June 2014 as demand for global container transportation increased steadily on the back of slow recovery of the world?s major economies, it said in its financial report. First half net profit rose to RMB431.64m ($70.27m) as against a deficit of RMB1.26bn in the previous corresponding period. Revenue during the period, however, dropped 8.5% year-on-year to RMB17.41bn. CSCL, a division of state-owned China Shipping Group, pointed out that while there has been a gradual increase in shipping capacity of containers, freight rates of main trade lanes showed no substantial recovery and the pace of recovery of the box shipping market was still fragile. CSCL noted that the imbalance between supply and demand was still profound and suppressed freight rate rising. ?The freight rate of international trade lanes bumped up and down and towards a downward trend,? it said. In the first half, average freight rate per teu for international trade lanes amounted to RMB5,141, representing a decrease of 2.8% year-on-year. CSCL is looking forward to a continued steady recovery of container transportation demand in the second half of this year. ?However, due to the imbalance in the overall supply and demand in the industry, whether freight rate will be able to maintain at a reasonable level is still unknown and faces tremendous challenges and resistance,? it commented. ?The shipping transportation market is subject to the influence of the global economic recovery pace, fuel price fluctuation, regional political situation as well as changes in strategic alliance among the container lines and other factors. In view of the numerous uncertainties, it is too early to say that the overall situation is optimistic for the shipping industry.? |
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Lucky03
Elite |
31-Aug-2014 23:12
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Frankly, the idea of NOL just selling all assets that can turn into cash just to reduce gearing and return any dividend to shareholders and then quietly fade away is a little too gloomy for me and not the main reason I took an interest in NOL. It may take a few more years for the market to sort out the imbalance of supply and demand and for the freight rate to return to a more sustainable level as the global container transportation continues to improve. The key is that it should have seem its worst as more and more containers shipping companies beginning to turn around as they leave to be more productive and cost effective. NOL is yet to prove it but it is on the right track since exercising its fleet renewal and cost cutting measures 3 yrs ago. Selling assets such as its logistic and possibly terminal business is not just a mere disposal and cash raising exercise. I believe it is part of the streamlining and staying focus and certainly making M&A a more viable option now.
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sgng123
Supreme |
31-Aug-2014 17:33
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Get a new CEO better preferable from the financial sector where they had perfected the art of cost cutting. Maybe doomday for those sub contractor who depend on NOL for contract and their employers if NOl take on a even more aggressive cost cutting measure. Do not expected freight rate to recover but continue to be depressed for the next 10 years, cost cutting is the only way cut till nothing left to cut then temasek privatised it to protect interest of the customers and national interest lol. Cost cutting is the way to go for enhancing share holders value, sell off everything and return every single charters plus cutting unprofitable trade lane, let the customers suffers better than let the investors take the hit. Investors need to sleep well at night so NOl better start to sell their non core asset and cut unprofitable trad service, APL logistics better let it go listed to further enhance NOL shareholder value. In the end NOL would be delisted for a better valuation when everything of value is either sold off or IPO. Lot of small US importers would go broke cos noone subsidise heir import cost anymore lol. |
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Lucky03
Elite |
30-Aug-2014 16:44
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Will have to see how well NOL continues to cut cost and unlock values of its assets to reduce gearing.
EROSION of freight rates in the global container shipping trades is likely to continue for the foreseeable future, says Maersk Line CEO Soren Skou, echoing the view of Maersk group CEO Nil Andersen. Friday, 29.Aug.2014, 22:44 (GMT) Maersk Line CEO says little hope of rate relief, focus must be on cost cutting EROSION of freight rates in the global container shipping trades is likely to continue for the foreseeable future, says Maersk Line CEO Soren Skou, echoing the view of Maersk group CEO Nil Andersen. Said Mr Skou: "When it comes to pricing, we do not subscribe to the view that freight rates will get better in the industry - all the evidence points to declining rates." A few days before, Mr Andersen said: "We have given up on the idea of growing faster than the market and we have adapted our capacity expansion to realistic market growth expectations." Maersk Line is one of the few to have solid second quarter results, helped by unexpected good volumes in the Asia-Europe trades which helped to stabilise freight rates, said Lloyd's List. But much of the credit for the Maersk profitability goes to strenuous cost cutting. "We do not base our strategy on prices magically starting to increase," said Mr Skou, adding that the company was focussed on cost reduction. Maersk's rate forecasting is based on supply and demand data coupled with an examination of the global orderbook, from which is distilled fleet capacity growth of three to four per cent a year. "So there is not a lot of evidence that the supply-demand balance is going to get better in the coming years, and even if it did, I think it would be short-lived," said Mr Skou. Moreover, half the orderbook is for 10,000 TEUers or bigger, which are only suited to Asia-Europe trades. |
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Lucky03
Elite |
30-Aug-2014 16:41
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Container shipping will experience a strong demand rise triggered by the improving US economy that spurred consumer spending.
Friday, 29.Aug.2014, 23:22 (GMT) Container shipping will experience a strong demand rise triggered by the improving US economy that spurred consumer spending. According to BIMCO?s shipping market analyst, the Conference Board Consumer Confidence Index (CCI) continued to improve in August for the fourth consecutive month ?as improving business conditions and robust job growth helped boost consumers? spirits. ? Chief Shipping Analyst at BIMCO, Peter Sand, said: ?For an economy mainly driven by consumer spending this is good news for shipping ? in particular we expect this to positively affect demand for trans-pacific container shipping ? but also to increase US East Coast container imports. ?As containerized goods are predominantly consumer products, the improvement in the housing market also contributes to boosting confidence and shipping demand.? Sand added that BIMCO?s US West Coast import data show a 4.0% increase for loaded containers during the first seven months of 2014 over the same period last year. ?US East Coast improved comparably by 8.8% during the first six months,?Sand went on to say. |
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sgng123
Supreme |
28-Aug-2014 22:52
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Maybe terminal would be divested to PSA but APL logistics might go for IPO listing to raise funds for future acquisition of logitics business. In the case of APL logisitcs going IPO in the US market with NOL retaining the majority shareholder, the value unlocked to share holders would be greater than just selling if off to thrid party. Either selling / IPO APL logistics, it all pointed to one thing, separation of liner and logistic business to further cut down the fixed cost. I see a privitalisation of NOL in the near future a reality. The hard part is how much NOL is actually worth with all the QE distorting value and the high beta nature of container shipping business. current stock price might just be the result of a deep recession and it would recover when time are better, so valuing ship at this price level not logical. Would need world economy to return to normal and the ending of US QE3 to get a more realitic value.
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