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counter Veteran	01-Aug-2014 14:02        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Maybe they themselves are fearful.
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counter Veteran	01-Aug-2014 10:06        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Where are the shortists? Given the big fall in the US market, today should be a good opportunity to create fear.
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counter Veteran	01-Aug-2014 10:01        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	NOL turning profitable in the second quarter may not necessary be goods news for shareholders and NOL staying in the red in the second quarter may not necessary be bad news for shareholders. But why bother about things that are beyong your control? Do you sum and take a position,  long or short, and this is something that you can control and should care more. earlybird14      ( Date: 01-Aug-2014 09:10) Posted: What if NOL cannot turn profitable this quarter, what will you do? especially, korea and japan line turn profitable. Lucky03      ( Date: 01-Aug-2014 09:07) Posted: We all know the low freight rate is the norm now. Whoever succeeds in restructuring and lowered cost significantly and where possible, restructured their debt too will turnaround. Pan Ocean continues to improve earnings with $303m Q2 profit By Lee Hong Liang from Singapore South Korea?s Pan Ocean has continued to improve its financial position as it posted a net profit of $303.42m in the second quarter. The second quarter profit was a reversal from the loss of $16.72m in the same period of last year, and a significant improvement from a profit of $34.35m in the first quarter of 2014. Pan Ocean said in a brief statement that the continued profit status from the first quarter this year was a result of the changeover to lower cost structure and performance of rehabilitation plan through the ongoing restructuring process. Pan Ocean, formerly known as STX Pan Ocean, underwent a debt-to-equity rescue deal involving $1.17bn in unsecured debts. The deal has allowed the shipowner to reduce its assets and liabilities so as to continue its operations. Last month, Pan Ocean ordered two capesize bulk carriers at a total price of KRW114.88bn ($112.83m), with deliveries scheduled by 30 November 2016.
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Lucky03 Elite	01-Aug-2014 09:13        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I'll have to see the forward guidance. Mgmt confidence is important consideration too. earlybird14      ( Date: 01-Aug-2014 09:10) Posted: What if NOL cannot turn profitable this quarter, what will you do? especially, korea and japan line turn profitable. Lucky03      ( Date: 01-Aug-2014 09:07) Posted: We all know the low freight rate is the norm now. Whoever succeeds in restructuring and lowered cost significantly and where possible, restructured their debt too will turnaround. Pan Ocean continues to improve earnings with $303m Q2 profit By Lee Hong Liang from Singapore South Korea?s Pan Ocean has continued to improve its financial position as it posted a net profit of $303.42m in the second quarter. The second quarter profit was a reversal from the loss of $16.72m in the same period of last year, and a significant improvement from a profit of $34.35m in the first quarter of 2014. Pan Ocean said in a brief statement that the continued profit status from the first quarter this year was a result of the changeover to lower cost structure and performance of rehabilitation plan through the ongoing restructuring process. Pan Ocean, formerly known as STX Pan Ocean, underwent a debt-to-equity rescue deal involving $1.17bn in unsecured debts. The deal has allowed the shipowner to reduce its assets and liabilities so as to continue its operations. Last month, Pan Ocean ordered two capesize bulk carriers at a total price of KRW114.88bn ($112.83m), with deliveries scheduled by 30 November 2016.
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earlybird14 Supreme	01-Aug-2014 09:10        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	What if NOL cannot turn profitable this quarter, what will you do? especially, korea and japan line turn profitable. Lucky03      ( Date: 01-Aug-2014 09:07) Posted: We all know the low freight rate is the norm now. Whoever succeeds in restructuring and lowered cost significantly and where possible, restructured their debt too will turnaround. Pan Ocean continues to improve earnings with $303m Q2 profit By Lee Hong Liang from Singapore South Korea?s Pan Ocean has continued to improve its financial position as it posted a net profit of $303.42m in the second quarter. The second quarter profit was a reversal from the loss of $16.72m in the same period of last year, and a significant improvement from a profit of $34.35m in the first quarter of 2014. Pan Ocean said in a brief statement that the continued profit status from the first quarter this year was a result of the changeover to lower cost structure and performance of rehabilitation plan through the ongoing restructuring process. Pan Ocean, formerly known as STX Pan Ocean, underwent a debt-to-equity rescue deal involving $1.17bn in unsecured debts. The deal has allowed the shipowner to reduce its assets and liabilities so as to continue its operations. Last month, Pan Ocean ordered two capesize bulk carriers at a total price of KRW114.88bn ($112.83m), with deliveries scheduled by 30 November 2016.
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Lucky03 Elite	01-Aug-2014 09:07        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	We all know the low freight rate is the norm now. Whoever succeeds in restructuring and lowered cost significantly and where possible, restructured their debt too will turnaround. Pan Ocean continues to improve earnings with $303m Q2 profit By Lee Hong Liang from Singapore South Korea?s Pan Ocean has continued to improve its financial position as it posted a net profit of $303.42m in the second quarter. The second quarter profit was a reversal from the loss of $16.72m in the same period of last year, and a significant improvement from a profit of $34.35m in the first quarter of 2014. Pan Ocean said in a brief statement that the continued profit status from the first quarter this year was a result of the changeover to lower cost structure and performance of rehabilitation plan through the ongoing restructuring process. Pan Ocean, formerly known as STX Pan Ocean, underwent a debt-to-equity rescue deal involving $1.17bn in unsecured debts. The deal has allowed the shipowner to reduce its assets and liabilities so as to continue its operations. Last month, Pan Ocean ordered two capesize bulk carriers at a total price of KRW114.88bn ($112.83m), with deliveries scheduled by 30 November 2016.
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Lucky03 Elite	01-Aug-2014 08:51        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	A brief below on K-Line in Seatrade-global. The market condition for different routes and different cargo yield different results and different freight rate situation. Nonetheless, given NOL heavy reliance on containership business, hopefully K-Line's optimistic assessment will apply to NOL too. K Line reports fall in Q1 profits By Marcus Hand from Singapore As with compatriot Mitsui OSK Lines (MOL) Kawasaki Kisen Kaisha (K line) reported a fall in net profit for the first quarter of the financial year. K Line announced a net profit of JPY4.28bn ($42.23m) for the first quarter ended 30 June 2014 compared to a JPY6.98bn net profit in the same period a year earlier. Revenues also fell in the first quarter to JPY295.7bn compared to JPY319.8bn a year earlier. Explaining the drop in profitability K Line said: ?In the business environment surrounding the shipping industry, we saw some negative factors toward our operating result such as continued shrinking trend in ex-Japan cargoes in the car carrier business, a decline freight rates in the dry bulk business. ?However, we saw a positive trend in the containership business where we saw an upward trend in freight rates for Europe-bound routes that had long been low.? In terms of industry segment, all sectors were profitable for K line with the exception of offshore energy E&P support and heavy lifter which saw a JPY1.9bn loss. Looking ahead K Line maintained its forecast of a JPY18bn profit for the year ended 31 March 2015. Published inAsia, Containers, Dry Cargo, Tankers, Offshore counter      ( Date: 01-Aug-2014 07:48) Posted: To me, this report seems to bear well for NOL. What do other bros here think? sgng123      ( Date: 01-Aug-2014 01:35) Posted: http://www.kline.co.jp/en/ir/library/bs/__icsFiles/afieldfile/2014/07/31/fh2014_1con_e.pdfI attached is K line operating result for April - June 2014. Container division returned to the black with transpacific cargo volume up 10% YoY, Europe up 6%. I only interested in the container business as K line is a diverse shipping group, freight rate for transpacific flat YoY while asia-europe see improvement. But again this is just the earlier financial report i can grab, hope it useful for those who read it.
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Trespasserx Senior	01-Aug-2014 08:50        Trespasserx About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is k line under any alliance or have they engaged in cost cutting exercise (if so), are they as aggressive as NOL. If the answers for both are not..then is should put NOL in a excellent position since they are serving the transpacific too..which increase in volume alone is able to put k line back in black... However nol being a bigger company than k line will mean their overhead costs and redundancy rates will be higher.. Coupled with the interest rate from banks due to the loans for the earlier fleet renewal, these will still be reflected in the upcoming q2 rpt which potentially might still put them in red.. However, long term beyond that, I am quite positive the perf of nol will be better than k line counter      ( Date: 01-Aug-2014 07:48) Posted: To me, this report seems to bear well for NOL. What do other bros here think? sgng123      ( Date: 01-Aug-2014 01:35) Posted: http://www.kline.co.jp/en/ir/library/bs/__icsFiles/afieldfile/2014/07/31/fh2014_1con_e.pdfI attached is K line operating result for April - June 2014. Container division returned to the black with transpacific cargo volume up 10% YoY, Europe up 6%. I only interested in the container business as K line is a diverse shipping group, freight rate for transpacific flat YoY while asia-europe see improvement. But again this is just the earlier financial report i can grab, hope it useful for those who read it.
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counter Veteran	01-Aug-2014 07:48        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	To me, this report seems to bear well for NOL. What do other bros here think? sgng123      ( Date: 01-Aug-2014 01:35) Posted: http://www.kline.co.jp/en/ir/library/bs/__icsFiles/afieldfile/2014/07/31/fh2014_1con_e.pdfI attached is K line operating result for April - June 2014. Container division returned to the black with transpacific cargo volume up 10% YoY, Europe up 6%. I only interested in the container business as K line is a diverse shipping group, freight rate for transpacific flat YoY while asia-europe see improvement. But again this is just the earlier financial report i can grab, hope it useful for those who read it.
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counter Veteran	01-Aug-2014 04:38        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Quote &lsquo Holders tend to post positive news to convince themselves the share that they purchase will be up. I fully understand and also be positive on what I vested.   Unquote I am glad that you see the positive news too. However, I do not hold before I am convinced. I am convinced before I hold. I do not put the cart before the horse. Quote &lsquo Those things that I pointed are what I see, digest and point my own view. Unquote If those things that you have pointed out are the ONLY things that you see, I must say that you do not see enough. Frankly, given your knowledge about the shipping industry, I am more inclined to believe that you see more than what you have pointed out. However, for reasons you know best, you have deliberately chosen to omit the positive facts and present only the negative facts in order to paint a one-sided picture. Quote&rsquo Current price is still no worth for taking the risk to buy since the trend of recovering is not there in next at least 1 year time. Risk of cash flow is alarming. Unquote Different people have different stomach for risk. I can only say that yours is smaller than those of many of the bros here. I am more optimistic about NOL than you do. We will have a better indication soon. earlybird14      ( Date: 31-Jul-2014 23:12) Posted: Holders tend to post positive news to convince themselves the share that they purchase will be up. I fully understand and also be positive on what I vested. For nol, may be as what you say, I still keep some hope on this company. However, I still choose to kiv on this company. Those things that I pointed are what I see, digest and point my own view. Current price is still no worth for taking the risk to buy since the trend of recovering is not there in next at least 1 year time. Risk of cash flow is alarming. counter      ( Date: 31-Jul-2014 21:40) Posted: I hope that Temasek will dish out a similar strategy for NOL and this is likely if the NOL ship does not turn the corner over the next two to three quarter as the iceberg is not many quarters away. In event that this happens, NOL will be one of my most profitable investments :) Frankly, I do not think that earlybird is as pessimistic about NOL as he sounds. If he was, he would have built up a short position but according to him, he is not invested, and I have take as the truth as there is no way to verify. This is assuming that he is rational and has a reasonable size of stomach for risk. He is probably trying to see if his words can shake confidence which may allow him to pick up some ' durians' . Although he knows that he has little chance of success, these words do not cost him anything financially. Besides, he is so predictable about his reply to my question on rights issue ^_^
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sgng123 Supreme	01-Aug-2014 01:35        sgng123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.kline.co.jp/en/ir/library/bs/__icsFiles/afieldfile/2014/07/31/fh2014_1con_e.pdfI attached is K line operating result for April - June 2014. Container division returned to the black with transpacific cargo volume up 10% YoY, Europe up 6%. I only interested in the container business as K line is a diverse shipping group, freight rate for transpacific flat YoY while asia-europe see improvement. But again this is just the earlier financial report i can grab, hope it useful for those who read it.
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Lucky03 Elite	01-Aug-2014 00:13        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wait for a week and there may be more clarity and the discussion will be more meaningful. earlybird14      ( Date: 31-Jul-2014 23:12) Posted: Holders tend to post positive news to convince themselves the share that they purchase will be up. I fully understand and also be positive on what I vested. For nol, may be as what you say, I still keep some hope on this company. However, I still choose to kiv on this company. Those things that I pointed are what I see, digest and point my own view. Current price is still no worth for taking the risk to buy since the trend of recovering is not there in next at least 1 year time. Risk of cash flow is alarming. counter      ( Date: 31-Jul-2014 21:40) Posted: I hope that Temasek will dish out a similar strategy for NOL and this is likely if the NOL ship does not turn the corner over the next two to three quarter as the iceberg is not many quarters away. In event that this happens, NOL will be one of my most profitable investments :) Frankly, I do not think that earlybird is as pessimistic about NOL as he sounds. If he was, he would have built up a short position but according to him, he is not invested, and I have take as the truth as there is no way to verify. This is assuming that he is rational and has a reasonable size of stomach for risk. He is probably trying to see if his words can shake confidence which may allow him to pick up some ' durians' . Although he knows that he has little chance of success, these words do not cost him anything financially. Besides, he is so predictable about his reply to my question on rights issue ^_^
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earlybird14 Supreme	31-Jul-2014 23:12        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Holders tend to post positive news to convince themselves the share that they purchase will be up. I fully understand and also be positive on what I vested. For nol, may be as what you say, I still keep some hope on this company. However, I still choose to kiv on this company. Those things that I pointed are what I see, digest and point my own view. Current price is still no worth for taking the risk to buy since the trend of recovering is not there in next at least 1 year time. Risk of cash flow is alarming. counter      ( Date: 31-Jul-2014 21:40) Posted: I hope that Temasek will dish out a similar strategy for NOL and this is likely if the NOL ship does not turn the corner over the next two to three quarter as the iceberg is not many quarters away. In event that this happens, NOL will be one of my most profitable investments :) Frankly, I do not think that earlybird is as pessimistic about NOL as he sounds. If he was, he would have built up a short position but according to him, he is not invested, and I have take as the truth as there is no way to verify. This is assuming that he is rational and has a reasonable size of stomach for risk. He is probably trying to see if his words can shake confidence which may allow him to pick up some ' durians' . Although he knows that he has little chance of success, these words do not cost him anything financially. Besides, he is so predictable about his reply to my question on rights issue ^_^ Lucky03      ( Date: 31-Jul-2014 20:40) Posted: Based on the extreme pessimism of earlybird painting of the future of NOL, then we may see 'similar plan' being dished out by Tamesek as for MAS by its major shareholder Khazanah Nasional .... PUBLISHED JULY 31, 2014 M'sia Airlines touching down for a delisting Khazanah expected to take ailing carrier private and relist it within four years BYANITA GABRIEL [email protected] @AnitaGabrielBT Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. [SINGAPORE] Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. The plan, pieced together with adviser CIMB Group after the airline was hit by a second disaster in quick succession with the downing of flight MH17 over Ukraine, also involves an overhaul of the airline's top management, The Business Times understands. That MAS would file for bankruptcy, as widely speculated, can be ruled out. A rebranding exercise which could involve a renaming is being contemplated but that may come later as the architects of the airline's revamp, for now at least, are intent on a more substantive overhaul. "It will be a total end-to-end restructure where every aspect of the business will be looked at - route streamlining, fleet resizing and people streamlining. MAS can't do bits and pieces of restructuring anymore like in the past. This will be a classic, traditional restructuring," said a source close to the plan.
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Trespasserx Senior	31-Jul-2014 21:43        Trespasserx About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don't think Israel Palestine or Russia Ukraine activated the navy yet.. So nol ship should be still quite safe in the sea ha... Anyway back to share.. Nol back to last min dumping again, not looking good.. Hopefully is a trick to unease the fainthearted while the insider accumulate due to insider info on the upcoming q2 performance,, reverse psychology.. Like what SIA and SIA engineering is doing.. Share price keep on increasing for past months.. Good dividend.. Then bomb.. Come the bloodshed after the latest q2 results when everyone thought the company will do well due to their good share price lately Lucky03      ( Date: 31-Jul-2014 20:40) Posted: Based on the extreme pessimism of earlybird painting of the future of NOL, then we may see 'similar plan' being dished out by Tamesek as for MAS by its major shareholder Khazanah Nasional .... PUBLISHED JULY 31, 2014 M'sia Airlines touching down for a delisting Khazanah expected to take ailing carrier private and relist it within four years BYANITA GABRIEL [email protected] @AnitaGabrielBT Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. [SINGAPORE] Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. The plan, pieced together with adviser CIMB Group after the airline was hit by a second disaster in quick succession with the downing of flight MH17 over Ukraine, also involves an overhaul of the airline's top management, The Business Times understands. That MAS would file for bankruptcy, as widely speculated, can be ruled out. A rebranding exercise which could involve a renaming is being contemplated but that may come later as the architects of the airline's revamp, for now at least, are intent on a more substantive overhaul. "It will be a total end-to-end restructure where every aspect of the business will be looked at - route streamlining, fleet resizing and people streamlining. MAS can't do bits and pieces of restructuring anymore like in the past. This will be a classic, traditional restructuring," said a source close to the plan.
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counter Veteran	31-Jul-2014 21:40        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	I hope that Temasek will dish out a similar strategy for NOL and this is likely if the NOL ship does not turn the corner over the next two to three quarter as the iceberg is not many quarters away. In event that this happens, NOL will be one of my most profitable investments :) Frankly, I do not think that earlybird is as pessimistic about NOL as he sounds. If he was, he would have built up a short position but according to him, he is not invested, and I have take as the truth as there is no way to verify. This is assuming that he is rational and has a reasonable size of stomach for risk. He is probably trying to see if his words can shake confidence which may allow him to pick up some ' durians' . Although he knows that he has little chance of success, these words do not cost him anything financially. Besides, he is so predictable about his reply to my question on rights issue ^_^ Lucky03      ( Date: 31-Jul-2014 20:40) Posted: Based on the extreme pessimism of earlybird painting of the future of NOL, then we may see 'similar plan' being dished out by Tamesek as for MAS by its major shareholder Khazanah Nasional .... PUBLISHED JULY 31, 2014 M'sia Airlines touching down for a delisting Khazanah expected to take ailing carrier private and relist it within four years BYANITA GABRIEL [email protected] @AnitaGabrielBT Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. [SINGAPORE] Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. The plan, pieced together with adviser CIMB Group after the airline was hit by a second disaster in quick succession with the downing of flight MH17 over Ukraine, also involves an overhaul of the airline's top management, The Business Times understands. That MAS would file for bankruptcy, as widely speculated, can be ruled out. A rebranding exercise which could involve a renaming is being contemplated but that may come later as the architects of the airline's revamp, for now at least, are intent on a more substantive overhaul. "It will be a total end-to-end restructure where every aspect of the business will be looked at - route streamlining, fleet resizing and people streamlining. MAS can't do bits and pieces of restructuring anymore like in the past. This will be a classic, traditional restructuring," said a source close to the plan.
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sgng123 Supreme	31-Jul-2014 21:09        sgng123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	This kind of downturn senario i had seen it happen at least 3 times in mine 20 years of investment, ship share price go up and down like roller coaster with punter and investors sweating out in nightmarish sentiment. When time get bad, investors with little risk stomach start acting up and throw all kind of nightmarish statement, NOL would bankrupt/right issues/delisted etc. See it for three time same stuff but none of the senario come truth but ship keep getting stronger after each crisis as seen by the higher revenue achieved YoY. NOl business model is solid with established customer bases in US and comprehensive logistic support in asia pacific region. During this downturn, NOL did not lose market share in the important transpacifc market but maintain a high level of service despite all those losses to investors as evidence by the fact it win the best transpacifc carriers three times in 4 years. Key issues is to reduce wastage and improve slot cost base through buying new ships and mega alliance, it would be tough on any investor stomach to see their investment halves or even more but we are near the end of the restructure execise under taken during the 3 years. NOL never once do a right issue during these 3 years instead already secure financing from bank long before the crisis escalated and Temasek had commited investment of US$4B without asking for right issue to further increase their holding, in fact it is just like ur father loaning money for ur first business venture without interest. All these doomday prediction just reflect the investor short experience with ship trading, container shipping is a cyclindal business with rate highly tied to the fate of US economyfor NOL case. US economy after 3 misery years had started to gather steam and hit 2Q GDP 4% with further gain in jobs market and unemployment going down toward 6%. This friday job report would show the resilent of US economy, no matter how  much u beat down american, they alway come back with a vengence tested and proven over 20 years. Freight rate would be soft this year but when US economy pick up in 2H14, rate would normalise in 2015 i expecting rate to return to 2012 level.
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Lucky03 Elite	31-Jul-2014 20:40        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Based on the extreme pessimism of earlybird painting of the future of NOL, then we may see 'similar plan' being dished out by Tamesek as for MAS by its major shareholder Khazanah Nasional .... PUBLISHED JULY 31, 2014 M'sia Airlines touching down for a delisting Khazanah expected to take ailing carrier private and relist it within four years BYANITA GABRIEL [email protected] @AnitaGabrielBT Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. [SINGAPORE] Under intense pressure and an unforgiving timeline to whip up a revival plan for tragedy-struck Malaysia Airlines (MAS), Khazanah Nasional, majority owner of the national carrier, is expected to submit a broad plan to take the airline private to Malaysian Prime Minister Najib Razak next week. The plan, pieced together with adviser CIMB Group after the airline was hit by a second disaster in quick succession with the downing of flight MH17 over Ukraine, also involves an overhaul of the airline's top management, The Business Times understands. That MAS would file for bankruptcy, as widely speculated, can be ruled out. A rebranding exercise which could involve a renaming is being contemplated but that may come later as the architects of the airline's revamp, for now at least, are intent on a more substantive overhaul. "It will be a total end-to-end restructure where every aspect of the business will be looked at - route streamlining, fleet resizing and people streamlining. MAS can't do bits and pieces of restructuring anymore like in the past. This will be a classic, traditional restructuring," said a source close to the plan.
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counter Veteran	31-Jul-2014 10:59        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	I don' t agree with you on all the points. First, if the rights issue is carried out to reduce debt, the gearing ratio will decrease and hence it may not necessary be perceived to be bad, profitability aside. Indeed, it may perceived to be desirable given the high debt level of NOL. The have been instances of companies selling some of their assets to reduce debt and the market takes it positively depsite the negative effect on the profitablity.  I know the difference between sale of assets and rights issue but this is not the point here. The point here is the level of debt. Second, if the rights issue is carried out to finance the loss, it is likely to be perceived to be bad. However,  this is based on your assumption that NOL will continue to make losses for a long time despite the rising volume in the shipping industry and the recovery of the US economy. This is something that many bros in this forum, inclduing me, beg to differ. If your assumption does not hold true, then your anaylsis is flawed, which in my view, is the case here. Third, existing shareholders may be able to exercise to sell their rights and this is exactly what I did with Olam International in the Carson Block saga (as a side note, seeing that Olam is trading around 2.5 now, my heart goes out to Carson Block). Therefore, existing shareholders may not necessary sell their shares. I did not sell my Olam shares in the rights issue exercise. earlybird14      ( Date: 31-Jul-2014 09:07) Posted: Private placement for business expansion, fund use for further investment to increase revenue and profit. Right issue like NOL, fund use for paying the debt or the loss like what they did for headquarter sales,400million all gone. NOL stated the money was used for paying new vessels. But Question!, where the money coming from for the 1 Billion loss in past few years? If right issue is materialise, the fund will go to the debt and may be the continual loss in next 2 to 3 years. For this type of right issue, will it has positive affection? Furthermore, the price for right issue is set at lower discounted price as compared to market trading price to attract the existing holders to exercise their right to subscribe the new share. After the subscription, the market trading price will be depressed. So long as market tradin price higher than the discounted subscription price, it will attract the existing holders to sell the share with profit since majority are forced to subscribe to prevent their shareholding being diluted, slight profit will encourage them to cash out or even throw all their holding to achieve breakeven. NOL daily trading volume is merely 1800k which is only 0.07%  of outstanding share, for the market to digest these portion of holders may take very long time. Especially, in this uncertain environment for NOL, how long will all existing holders trap below current price is unknown too. it may be 2 years, 3 years or even longer. Will dilution come again and again like Chartered Semicon till Temasek also cannot tolerate and sold it away with big loss? I am talking the worst situation, it may not be happen but compare to other shares in SGX, NOL is the one holding the highest chance to repeat the history of Chartered Semi Con. counter      ( Date: 31-Jul-2014 08:29) Posted: In the event of rights issue, as the number of shares will increase, the value of assets will also rise due to the cash raised. As the rights will  only be issued to the existing  shareholders, it what ways will they be adversely affected?
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Lucky03 Elite	31-Jul-2014 09:22        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I missed out 1 more scenario. 4. NOL divests APL Logistics and APL Terminal to pare down its asset and reduce its debt to lower interest expense and provide additional working capital. With that, NOL will focus on being very lean and streamlined for operational efficiency on liner business for plain vanilla service rather than value add with intermodal model and warehouse service. spore1      ( Date: 31-Jul-2014 08:26) Posted: more likely is option no.1   Lucky03      ( Date: 31-Jul-2014 07:53) Posted: I believe we will have more clarity of any significant corporate movements after Q2 result is released. There can be any one of combination of the following scenarios : 1. NOL continues to focus in business as usual on cost cutting and retiring of the more expensive chartered ships and push out aggressive to increase utilization rate for those new vessels added to its fleet and expand G6 network. Depending on its balance sheet, cash flow and cash contribution from operating activities, we will see if NOL indeed needs to make another cash call, refinance its debts or issues new bonds which will probably be guaranteed by Tamasek. 2. Hapag makes its moves to make an offer to acquire NOL. Depending on its own IPO progress, it may or may not continue to list NOL. That also depends if it had managed to hit the threshold to require it to make a general offer to buy up all remaining shares. Alternatively, it will be a merger through share swap but that will require an EOGM to approve any such proposition. 3. Tamesek decides that it is better for them to take NOL private by making an offer to the 33% that they are not already owning. Tamasek can then have more flexibility and control to carry out major restructuring including possible disposal of some assets to realise NOL's intrinsic value and to make it more lean and then assess if it will relist it in the future. Well, it is only 7 days from the announcement of the Q2 result. May be interesting to put a vote :)
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earlybird14 Supreme	31-Jul-2014 09:07        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Private placement for business expansion, fund use for further investment to increase revenue and profit. Right issue like NOL, fund use for paying the debt or the loss like what they did for headquarter sales,400million all gone. NOL stated the money was used for paying new vessels. But Question!, where the money coming from for the 1 Billion loss in past few years? If right issue is materialise, the fund will go to the debt and may be the continual loss in next 2 to 3 years. For this type of right issue, will it has positive affection? Furthermore, the price for right issue is set at lower discounted price as compared to market trading price to attract the existing holders to exercise their right to subscribe the new share. After the subscription, the market trading price will be depressed. So long as market tradin price higher than the discounted subscription price, it will attract the existing holders to sell the share with profit since majority are forced to subscribe to prevent their shareholding being diluted, slight profit will encourage them to cash out or even throw all their holding to achieve breakeven. NOL daily trading volume is merely 1800k which is only 0.07%  of outstanding share, for the market to digest these portion of holders may take very long time. Especially, in this uncertain environment for NOL, how long will all existing holders trap below current price is unknown too. it may be 2 years, 3 years or even longer. Will dilution come again and again like Chartered Semicon till Temasek also cannot tolerate and sold it away with big loss? I am talking the worst situation, it may not be happen but compare to other shares in SGX, NOL is the one holding the highest chance to repeat the history of Chartered Semi Con. counter      ( Date: 31-Jul-2014 08:29) Posted: In the event of rights issue, as the number of shares will increase, the value of assets will also rise due to the cash raised. As the rights will  only be issued to the existing  shareholders, it what ways will they be adversely affected?
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