Back

Latest Forum Topics / Neptune Orient L Rg

Post Reply

NOL Post Reply Rate topic
Lucky03 Elite	30-Jul-2014 09:36        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Cash Flow sufficiency and management is indeed very important. It also doesn't mean one has to repay all when due as they can be refinanced. When refinancing, the interest rates will depend largely on the ability of the company to generate future cash flow and company asset and backing. That's when Tamasek will have to throw its weight behind NOL to help it secures more attractive interest rate loans. Q1 Balance Sheet and Cash Flow statement below. Watch out for the net income generated from operating activities and progressive payment of new shop orders plus repayment of loans. In NOL last recorded analysts briefing that can be found on their website, their CFO remarked that most of the progressive payment for new orders have been made and they are not expecting significant outlay going forward. Let's see if it turns out so in a week's time. Balance Sheet : NOL Group's total assets decreased by US$187 million from US$9.03 billion as at 27 December 2013 to US$8.84 billion as at 4 April 2014. The decrease in total assets was mainly due to decrease in cash and cash equivalents, partially offset by increase in property, plant and equipment. Please refer to the explanation below for the decrease in cash and cash equivalents. The increase in property, plant and equipment was mainly due to progressive payments made for previously ordered new vessels. The Group's total liabilities decreased by US$82 million from US$6.90 billion as at 27 December 2013 to US$6.82 billion as at 4 April 2014. The decrease in total liabilities was mainly due to decrease in borrowings [see Note 1(b)(ii)] during the quarter. The Group's total equity decreased by US$105 million from US$2.13 billion as at 27 December 2013 to US$2.03 billion as at 4 April 2014 mainly due to net loss incurred during the quarter. Cashflow: NOL Group's cash and cash equivalents decreased by US$376 million from US$0.98 billion as at 27 December 2013 to US$0.61 billion as at 4 April 2014 mainly due to net cash outflow from investing activities of US$252 million and net cash outflow from financing activities of US$159 million, partially offset by net cash inflow from operating activities of US$35 million. Net cash outflow from investing activities was mainly due to progressive payments made for previously ordered new vessels. Net cash outflow from financing activities was mainly due to net repayment of borrowings.
Useful To Me  Not Useful To Me
earlybird14 Supreme	30-Jul-2014 09:00        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Anyway, result is coming. Besides  profitability,  investors shall look at NOL cash flow which they have to prepare the cash for the coming non-secure borrowing loan which will be expired  in next 18 months. If their cash is reduced, it will be a very obvious warning sign for dilution in short term. earlybird14      ( Date: 30-Jul-2014 08:56) Posted: Temasek shall consider to acquire those offshore company like swiber, ezra, ezion and etc instead of NOL. The amount of singaporean employed by anyone of this company are more than NOL. NOL is just another company in Temasek old portfolio like Chartered Semi Con which is required to be consolidated by the market. The foreign content of NOL is huge and APL is running her headquarter in US. Singapore require PSA instead of NOL, just a merely 2.3% shipping market share, the contribution from NOL to Singapore is very tiny. To you, all these may be mistake. However it can be a reference for others. For the time being, NOL need cash and chance of privatization is low, cash call become compulsory, dilution is coming. Merging with Hapaq is definitely a good solution, will Temasek consider to be the major share holder? This chance may be higher but it will not be so fast since Hapaq just merged with CSAV and is busy with their IPO. In short term, this will not be a solution. counter      ( Date: 29-Jul-2014 18:28) Posted: You keep making the same mistake again and again. NOL is not just another investment in Temasek' s portfolio.  Indeed, NOL was started in 1968 by the Singapore  Government in an effort to developed and support Singapore' s economy. It was not set up  with the primary objective of  making profit. Indeed, in contrast to your ' view' , I think that privatisation is likely.
Useful To Me  Not Useful To Me
earlybird14 Supreme	30-Jul-2014 08:56        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Temasek shall consider to acquire those offshore company like swiber, ezra, ezion and etc instead of NOL. The amount of singaporean employed by anyone of this company are more than NOL. NOL is just another company in Temasek old portfolio like Chartered Semi Con which is required to be consolidated by the market. The foreign content of NOL is huge and APL is running her headquarter in US. Singapore require PSA instead of NOL, just a merely 2.3% shipping market share, the contribution from NOL to Singapore is very tiny. To you, all these may be mistake. However it can be a reference for others. For the time being, NOL need cash and chance of privatization is low, cash call become compulsory, dilution is coming. Merging with Hapaq is definitely a good solution, will Temasek consider to be the major share holder? This chance may be higher but it will not be so fast since Hapaq just merged with CSAV and is busy with their IPO. In short term, this will not be a solution. counter      ( Date: 29-Jul-2014 18:28) Posted: You keep making the same mistake again and again. NOL is not just another investment in Temasek' s portfolio.  Indeed, NOL was started in 1968 by the Singapore  Government in an effort to developed and support Singapore' s economy. It was not set up  with the primary objective of  making profit. Indeed, in contrast to your ' view' , I think that privatisation is likely. earlybird14      ( Date: 29-Jul-2014 18:09) Posted: After the acquisition of olam, temasek become the biggest shareholder which has the right to say even change the management if they perform badly. This is the same status of NOL now. Who will privatize a loss making company which cannot raise money from open market through dilution, notes or bonds? Gov policy is make sure temasek and gic remain transparency and profitablility. Nol privatization is almost zero chanc
Useful To Me  Not Useful To Me
Lucky03 Elite	30-Jul-2014 08:09        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Reading more of rebound or jump in industrial output. Augurs well for container shipping. PUBLISHED JULY 30, 2014 South Korea June factory output growth hits near 5-year high PRINT |EMAIL THIS ARTICLE South Korea's industrial output in June posted its fastest gain in nearly five years, fully recovering the previous month's sharp loss and far exceeding market expectations, government data showed on Wednesday - PHOTO: AFP [SEOUL] South Korea's industrial output in June posted its fastest gain in nearly five years, fully recovering the previous month's sharp loss and far exceeding market expectations, government data showed on Wednesday. Industrial output rose by a seasonally adjusted 2.9 per cent in June from the previous month, following a revised 2.8 per cent fall in May, the Statistics Korea data showed. May's revised reading was slightly worse than a preliminary 2.7 per cent fall. It was the sharpest gain since a 3.7 per cent rise in September 2009 and beat even the highest forecast for 2.0 per cent growth in a Reuters survey of 16 analysts. The median forecast was 0.7 per cent expansion. On an annual basis, industrial output rose 0.6 per cent in June after a revised 2.1 per cent decline in May, compared with a median 0.8 per cent rise tipped in the Reuters survey.
Useful To Me  Not Useful To Me
sgng123 Supreme	30-Jul-2014 01:55        sgng123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	2M alliance is dead on arrival since the CCTV is controlled by the communist and they expressed their view/hint through it. when they said cannot meant  cannot no matter how hard u try to lobby. Explain why it very hard to do business in china if u do not have the right connection. Protectism is also on the rise as the chinese government need to ensure their national shipping lines able to prosper in the future not to get pushed off the market by 2M. Sooner or later china would order export to be carried by chinese liner within a certain percentage of total cargo. Not to mention lot of charters is chinese ship owner, also need to safe guard their investment as they borrow heavily from chinese banks. 2M is dead from the way i see it, now maersk and msc gona had a big headache when their 18K TEU ships delivered next year lol, had no choice but to raise rate to cover the lower load factor achieved due to no alliance tie up. Maersk still got the face to say that they can manage without P3 lol, less than 1 month they announced tie up wit hmsc to form 2M they panic already. endure till 2015 then freight rate would return to normal, dumb industry leader trying to change the rule and get burnt. Lucky03      ( Date: 29-Jul-2014 18:59) Posted: Looks like the 2M alliance may also be killed. STATE broadcaster China Central Television (CCTV) said the proposed Maersk-MSC mega 2M alliance may result in price increases for consumers and trouble for Chinese shipping lines. Monday, 28.Jul.2014, 21:23 (GMT) Maersk-MSC's 2M suffers poor reviews from CCTV documentary report STATE broadcaster China Central Television (CCTV) said the proposed Maersk-MSC mega 2M alliance may result in price increases for consumers and trouble for Chinese shipping lines. CCTV aired a critical five-minute documentary report on how the vessel sharing agreement between Maersk Line and Mediterranean Shipping Co could affect China, said London's Lloyd's List. "Maersk and MSC will control the largest shares in Asia-Europe and transatlantic trades. They will have a bigger say in the market, and China's exporters and importers will have weaker bargaining power," the CCTV report said. Shang Ming, the Ministry of Commerce's anti-monopoly chief, told CCTV the alliance could have an impact on Chinese consumers as prices of goods are partly determined by shipping costs. "If there is any monopoly behaviour, the monopolist may eventually set the prices at its will. And if the prices increase, consumers would be hit," Mr Shang said. Said China Shipowners' Association spokesman Zhang Shouguo: "Chinese-controlled fleet carries less than one-third of total exports from China." CCTV rarely reports on container shipping, but its past negative coverage of Volkswagen and Apple has forced the multinationals to recall their products or offer public apologies. Maersk and MSC proposed the three-way P3 Network with CMA CGM, but that ran aground over the Ministry of Commerce objections. It was thought that the two-way 2M deal will avoid the Ministry of Commerce and apply through the Ministry Transport.
Useful To Me  Not Useful To Me
Lucky03 Elite	30-Jul-2014 01:33        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Total number of shorts today is only 62 lots at ave price of $0.954. Guess the guy will cover at a loss of closing price $0.965 or left open 'naked'.
Useful To Me  Not Useful To Me
Lucky03 Elite	30-Jul-2014 00:54        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sunny peak season expected as China exports strengthen Greg Knowler, Senior Asia Editor | Jul 29, 2014 9:14AM EDT A series of positive factors have lined up in China?s export space, not least the double-digit growth in June, raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season. China?s exports in June rose 11.4 percent year-over-year, pushing up ocean container trade between Asia and Europe by 6.1 percent and Asia-U.S. trade by almost 5.9 percent, according to Citi Research. Combined air cargo carried by Cathay Pacific, Singapore Airlines, and Air China, measured in freight tonne kilometers, improved by 7.4 percent. But other factors contributing to expectations of a sunny peak season include the improving economic outlook for the European Union and rising U.S. housing starts and sales, a catalyst for South China exports. Furniture and white goods account for an estimated 20 percent of the throughput through Pearl River Delta ports. A further positive market indicator was China?s official purchasing managers? index (PMI), which rose to a six-month high of 51 in June, while HSBC?s PMI for the same period hit 50.7 points, the first time in six months it has been in expansion territory. This signifies increased manufacturing output that is supported by growing export volumes being recorded by air and ocean carriers, and terminals. For instance, Hong Kong?s Orient Overseas Container Line (OOCL) saw its trans-Pacific volumes rise by 6.3 percent in the first half to 645,000 20-foot containers, although weak rates were a drag on revenue with year-over-year profit at 1.3 percent on the trade route. Load factors at OOCL saw a significant improvement, rising 5 percent year-over-year in line with the management?s goal to maintain an optimal load factor in 2014. ?While there has been an increase in cargo volume in the trans-Pacific trade, we are not sure if that has something to do with customers shipping early to avoid the risk of any labor issue due to the contract negotiation with ILWU,? said Stephen Ng, OOCL director of trades. JOC economist Mario Moreno said labor contract negotiations between the International Longshore and Warehouse Union (ILWU) and employers skewed second-quarter import volumes, but U.S. imports are still en route to reach a new peak volume this year of 19 million TEUs. ?For the second quarter of the year, imports expanded 6.6 percent year over year, 1.3 percent over forecast. I estimate about 45,000 inbound TEUs were pushed forward from the third to the second quarter,? Moreno said. In a note to investors, Citi Research analysts said export growth will be one of the bright spots in the second half and the port sector will be a key beneficiary of a foreign trade rebound. In the air cargo sector, the Association of Asia Pacific Airlines (AAPA) director general Andrew Herdman said positive consumer and business sentiment in major developed economies have seen cargo demand continue to expand in June for the 16 regional carriers it represents. During the first half, air freight demand grew by 4.6 percent, underpinned by a long-awaited pick-up in global trade activities. The average international load factor grew by 0.8 percentage points to 66.1 percent in June, in the second consecutive month of growth, a circumstance taht has not been seen for some time. In freight tonne kilometers, air cargo demand grew 4.7 percent in June. ?Overall demand is expected to be positive, supported by continued growth in regional economies and further improvement in the US and European economies,? Herdman said. But he warned the Asian carriers to keep an eye on costs and to manage capacity as competitive pressures remain intense. Contact Greg Knowler at [email protected] and follow him on Twitter: @greg_knowler.
Useful To Me  Not Useful To Me
Lucky03 Elite	29-Jul-2014 19:05        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There will be more M&A activities in the container liners. Hamburg Süd set to become 8th largest box line with CCNI merger By Marcus Hand from Singapore Hamburg Süd is set to become the world?s largest eighth largest container line by the end of this year through a combination of taking over Compañía Chilena de Navegación Interoceánica (CCNI) and newbuilding deliveries over the next five months according to Alphaliner. The German liner company announced at the end of last week it had made $160m bid to acquire CCNI. The deal is expected to be completed by the end of December subject to due diligence and regulatory approvals. According to Alphaliner?s weekly newsletter CCNI currently operates 59,800 teu in capacity, and the deal includes four 9,030 teu chartered in vessels delivering in 2014 and 2015. Meanwhile Hamburg Süd has 103,000 teu in new capacity to be delivered over the next three years. As of the date of the announcement Alphaliner said it would give the merged company a fleet capacity of 559,800 teu currently moving the German line up from 13 to 11 in the global rankings ahead of Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL). By the time the merger is complete at the end of the year Hamburg Süd is set to move up three more places to the number eight position with 80,000 teu in new deliveries over the next five months, taking it ahead of Mitsui OSK Lines (MOL), APL and Hanjin Shipping.
Useful To Me  Not Useful To Me
Lucky03 Elite	29-Jul-2014 18:59        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Looks like the 2M alliance may also be killed. STATE broadcaster China Central Television (CCTV) said the proposed Maersk-MSC mega 2M alliance may result in price increases for consumers and trouble for Chinese shipping lines. Monday, 28.Jul.2014, 21:23 (GMT) Maersk-MSC's 2M suffers poor reviews from CCTV documentary report STATE broadcaster China Central Television (CCTV) said the proposed Maersk-MSC mega 2M alliance may result in price increases for consumers and trouble for Chinese shipping lines. CCTV aired a critical five-minute documentary report on how the vessel sharing agreement between Maersk Line and Mediterranean Shipping Co could affect China, said London's Lloyd's List. "Maersk and MSC will control the largest shares in Asia-Europe and transatlantic trades. They will have a bigger say in the market, and China's exporters and importers will have weaker bargaining power," the CCTV report said. Shang Ming, the Ministry of Commerce's anti-monopoly chief, told CCTV the alliance could have an impact on Chinese consumers as prices of goods are partly determined by shipping costs. "If there is any monopoly behaviour, the monopolist may eventually set the prices at its will. And if the prices increase, consumers would be hit," Mr Shang said. Said China Shipowners' Association spokesman Zhang Shouguo: "Chinese-controlled fleet carries less than one-third of total exports from China." CCTV rarely reports on container shipping, but its past negative coverage of Volkswagen and Apple has forced the multinationals to recall their products or offer public apologies. Maersk and MSC proposed the three-way P3 Network with CMA CGM, but that ran aground over the Ministry of Commerce objections. It was thought that the two-way 2M deal will avoid the Ministry of Commerce and apply through the Ministry Transport.
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 18:32        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Apart from  making sure temasek and gic remain transparent and profitable, the Singapore government  has an even more important macroeconomic  goal which is to sustain high economic growth through its export-driven growth strategy which makes NOL a strategic asset.
Useful To Me  Not Useful To Me
Lucky03 Elite	29-Jul-2014 18:30        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can't read Tamasek so will just have to leave it to them if there is any merit to privatize, restructure and even re-list. That's one of the typical corporate strategy. Corporate restructure is a complex business and valuation of asset involves many consideration. There is no guarantee that those who are profitable today will not turn up losses and conversely, those with losses today may not necessarily never be able to turn profitable. As investors, we will have to look at macro situation, market development, company actions and sign of improvements or deterioration. We all know cash flow is not the only determinant though it is undoubtedly a crucial one. Hapag has openly expressed their interest in NOL for acquisition or merger. So at least there is an interested party out there. Worst case is to make the offer based on NOL's last NAV of about $0.94 subject to US$ exchange rate. Hapag said that the tough part is to persuade Tamasek to let go. earlybird14      ( Date: 29-Jul-2014 18:09) Posted: After the acquisition of olam, temasek become the biggest shareholder which has the right to say even change the management if they perform badly. This is the same status of NOL now. Who will privatize a loss making company which cannot raise money from open market through dilution, notes or bonds? Gov policy is make sure temasek and gic remain transparency and profitablility. Nol privatization is almost zero chance counter      ( Date: 29-Jul-2014 15:43) Posted: Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside?
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 18:28        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	You keep making the same mistake again and again. NOL is not just another investment in Temasek' s portfolio.  Indeed, NOL was started in 1968 by the Singapore  Government in an effort to developed and support Singapore' s economy. It was not set up  with the primary objective of  making profit. Indeed, in contrast to your ' view' , I think that privatisation is likely. earlybird14      ( Date: 29-Jul-2014 18:09) Posted: After the acquisition of olam, temasek become the biggest shareholder which has the right to say even change the management if they perform badly. This is the same status of NOL now. Who will privatize a loss making company which cannot raise money from open market through dilution, notes or bonds? Gov policy is make sure temasek and gic remain transparency and profitablility. Nol privatization is almost zero chance counter      ( Date: 29-Jul-2014 15:43) Posted: Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside?
Useful To Me  Not Useful To Me
earlybird14 Supreme	29-Jul-2014 18:09        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	After the acquisition of olam, temasek become the biggest shareholder which has the right to say even change the management if they perform badly. This is the same status of NOL now. Who will privatize a loss making company which cannot raise money from open market through dilution, notes or bonds? Gov policy is make sure temasek and gic remain transparency and profitablility. Nol privatization is almost zero chance counter      ( Date: 29-Jul-2014 15:43) Posted: Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside? Lucky03      ( Date: 29-Jul-2014 15:31) Posted: Tamesek will not acquire as further acquisition is privatisation :) Earlybird, you are adamant that NOL can only continue to lose and absolutely no chance of ever turn profitable again
Useful To Me  Not Useful To Me
spore1 Supreme	29-Jul-2014 17:24        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Testing 99 cents soon spore1      ( Date: 26-Jul-2014 22:16) Posted: believe the trend is changing. heading higher. http://sporeshare.blog  spot.sg/2014/07/nol.html
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 16:07        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	One of the flaws in earlybird' s analysis is that NOL is just another investment in Temasek' s portfolio, no different from any other investment. I wonder whether he seriously thinks so. counter      ( Date: 29-Jul-2014 15:59) Posted: Would you give the same reply if someone raised the slightest idea to you  that Temasek would acquire NOL, before  the event took place?
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 16:01        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	My sincere apology for having misunderstood you :) Lucky03      ( Date: 29-Jul-2014 15:58) Posted: Privatization is definitely a likely scenario. What I meant is that Tamesek needs not conduct another acquisition exercise as Tamesek will make a privatization offer if indeed any rights offer is indeed needed. counter      ( Date: 29-Jul-2014 15:43) Posted: Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside?
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 15:59        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Would you give the same reply if someone raised the slightest idea to you  that Temasek would acquire NOL, before  the event took place?
Useful To Me  Not Useful To Me
Lucky03 Elite	29-Jul-2014 15:58        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Privatization is definitely a likely scenario. What I meant is that Tamesek needs not conduct another acquisition exercise as Tamesek will make a privatization offer if indeed any rights offer is indeed needed. counter      ( Date: 29-Jul-2014 15:43) Posted: Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside? Lucky03      ( Date: 29-Jul-2014 15:31) Posted: Tamesek will not acquire as further acquisition is privatisation :) Earlybird, you are adamant that NOL can only continue to lose and absolutely no chance of ever turn profitable again
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 15:43        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Why is privatisation of NOL unlikely when that can happen to OLAM International which is also a strategic asset to Singapore, profitability aside? Lucky03      ( Date: 29-Jul-2014 15:31) Posted: Tamesek will not acquire as further acquisition is privatisation :) Earlybird, you are adamant that NOL can only continue to lose and absolutely no chance of ever turn profitable again. earlybird14      ( Date: 29-Jul-2014 14:49) Posted: Unlikely, NOL is under their control and they are able to assign MD from Temasek to NOL directly which imply they are fully control of NOL, acquisition will give a hurdle to NOL to raise money from open market and Temasek has to bear all the losses from NOL.  Most likely raising the fund through right issue and backing by Temasek for those who don' t want to exercise their rights.
Useful To Me  Not Useful To Me
counter Veteran	29-Jul-2014 15:41        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	I couldn' t agree less with you. First, Temasek will not continue making losses for ever  and it is likely to get into the black soon. Second,  NOL was started in 1968 by the Singapore  Government in an effort to developed and support Singapore' s economy is thus it is  not as profit-oriented as many other firms. Third, further acqusition would likely mean privatisation but I do not see why  privatisation is  unlikely given the objective of  starting NOL by the Singapore Government. earlybird14      ( Date: 29-Jul-2014 14:49) Posted: Unlikely, NOL is under their control and they are able to assign MD from Temasek to NOL directly which imply they are fully control of NOL, acquisition will give a hurdle to NOL to raise money from open market and Temasek has to bear all the losses from NOL.  Most likely raising the fund through right issue and backing by Temasek for those who don' t want to exercise their rights. counter      ( Date: 29-Jul-2014 13:01) Posted: In my view, that will increase the likehood of Temasek acquiring NOL.
Useful To Me  Not Useful To Me

                                                         First   < Newer   7281-7300 of 11177   Older>   Last