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Lucky03 Elite	28-Aug-2014 22:45        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good suggestion Observers      ( Date: 28-Aug-2014 19:44) Posted: Terminals can sell to PSA? Logistics sell to GLP?
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Observers Elite	28-Aug-2014 19:44        Observers About Contact  Quote this Post!
x 0   x 0  Alert Admin	Terminals can sell to PSA? Logistics sell to GLP?
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Lucky03 Elite	28-Aug-2014 09:34        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Maersk is playing Big Brother role. DANISH shipping giant Maersk Line has announced an Asia-north Europe rate increase of US$400 per TEU effective September 1. Wednesday, 27.Aug.2014, 19:54 (GMT) Maersk raises Asia-north Europe rate US$400/TEU from September 1 DANISH shipping giant Maersk Line has announced an Asia-north Europe rate increase of US$400 per TEU effective September 1. On average, shipping freight spot rates between Asia and northern Europe have fallen 7.7 per cent to $1,106 per TEU in the week ending August 22, Reuters noted.
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Lucky03 Elite	28-Aug-2014 09:32        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Some of the latest assessment is pointing to growth of volume outstripping growth of capacity. QUARTERLY service changes to China's outbound cargo flow appeared to represent last minute adjustments before shipping lines settled into this year's peak season. Wednesday, 27.Aug.2014, 20:10 (GMT) Box carriers make final adjustments to trade routes in latter peak season QUARTERLY service changes to China's outbound cargo flow appeared to represent last minute adjustments before shipping lines settled into this year's peak season. The changes resulted in quarterly capacity increases of seven per cent while full-year capacity had been expected to rise only two per cent, but is now anticipated to be higher. Utilisation rates are set to peak at 87 per cent during the third quarter. Asia-West Africa shipping lines seem to be balancing supply with demand, noted Lloyd's List with volumes expected to rise nine to 11 per cent this year and capacity to go up 10 per cent. More Asia-West Africa direct services were evident in second quarter, rather using traditional transshipments via the Med as faster transit times grow more popular with shippers. MSC, Cosco, Evergreen and MOL started direct services in the second quarter deploying 3,300- to 4,000-TEU ships. Nile Dutch and PIL have combined their FEWA and SW3 service, a loop that provides the same space as before because of the larger ships deployed. Asia-Oceania trade lanes continued to suffer from slow growth and overcapacity with volumes expected to rise three to four per cent this year. The transpacific trade felt the impact of alliance changes during the quarter. On the west coast, Evergreen and the CKYH Alliance combined two small 4,200 TEU services (PSW4 and CAX) into one loop (Cosea/HTW). Also, CSCL and UASC established a new 8,600-TEU service (AAS2), with gaps filled and some larger ships deployed on various Mexico/South America loops. G6 lines has services to the transpacific west coast trade, ending southeast Asia loop and replacing it with two new China services. Overall, capacity is expected to expand two per cent with volumes rising three per cent, which would result in 86 per cent utilisation in the third quarter. Asia-east coast North America experienced changes in the second quarter, which included Evergreen's 4,200-TEU AUE Panama loop being replaced by a new Suez-routed 8,000 TEU service run with the CKYH alliance. Also, the G6 Alliance and Zim resumed running separate services after these had been combined in the winter months.
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jj7007 Veteran	28-Aug-2014 09:12        jj7007 About Contact  Quote this Post!
x 0   x 0  Alert Admin	1.10 may be coming
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Lucky03 Elite	28-Aug-2014 07:58        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Home / Shipping News / International Shipping News / Key US indicators prove stronger demand for container shipping Key US indicators prove stronger demand for container shipping in International Shipping News 28/08/2014 US economic growth and its accompanied consumer spending is on the rise ? as shown by key indicators followed by BIMCO?s shipping market analyst ? and will result in stronger demand for container shipping. 1. The Conference Board Consumer Confidence Index (CCI)* continued to improve in August. The CCI went up for the fourth consecutive month (from 90.3 (adj.) to 92.4) as improving business conditions and robust job growth helped boost consumers? spirits. Overall, consumers remain quite positive about the short-term outlooks for the economy and labour market despite having doubts about whether their income will increase over the next six months. Chief Shipping Analyst at BIMCO, Peter Sand, said: ?Economic news from the US shows that the world?s largest economy is getting better by the day, leaving the devastating first quarter GDP setback 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 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.? 2. Improving economic conditions are also visible in the US housing market. US housing starts surged to an eight-month high in July leaving the standstill during H2-2013 behind. Privately-owned housing starts, grew by 15.7% in July to a seasonally adjusted 1.09-million unit annual pace, according to the US Commerce Department. The gain reversed two months of consecutive declines. Peter Sand also commented that: ?Furniture and appliances are among the top categories of imported containerised goods into the US from Far East Asia ? which is why we follow the housing market closely. ?BIMCO?s own US West Coast import data show a 4.0% increase for loaded containers during the first seven months of 2014 over same period last year. ?US East Coast improved comparably by 8.8% during the first six months.? New data on key indicators sheds light on present, near-term and future shipping market. This news piece follow up on BIMCO market reports and comments to commercial developments for the three main shipping segments. Source: BIMCO Home / Shipping News / International Shipping News / Key US indicators prove stronger demand for container shipping Key US indicators prove stronger demand for container shipping in International Shipping News 28/08/2014 US economic growth and its accompanied consumer spending is on the rise ? as shown by key indicators followed by BIMCO?s shipping market analyst ? and will result in stronger demand for container shipping. 1. The Conference Board Consumer Confidence Index (CCI)* continued to improve in August. The CCI went up for the fourth consecutive month (from 90.3 (adj.) to 92.4) as improving business conditions and robust job growth helped boost consumers? spirits. Overall, consumers remain quite positive about the short-term outlooks for the economy and labour market despite having doubts about whether their income will increase over the next six months. Chief Shipping Analyst at BIMCO, Peter Sand, said: ?Economic news from the US shows that the world?s largest economy is getting better by the day, leaving the devastating first quarter GDP setback 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 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.? 2. Improving economic conditions are also visible in the US housing market. US housing starts surged to an eight-month high in July leaving the standstill during H2-2013 behind. Privately-owned housing starts, grew by 15.7% in July to a seasonally adjusted 1.09-million unit annual pace, according to the US Commerce Department. The gain reversed two months of consecutive declines. Peter Sand also commented that: ?Furniture and appliances are among the top categories of imported containerised goods into the US from Far East Asia ? which is why we follow the housing market closely. ?BIMCO?s own US West Coast import data show a 4.0% increase for loaded containers during the first seven months of 2014 over same period last year. ?US East Coast improved comparably by 8.8% during the first six months.? New data on key indicators sheds light on present, near-term and future shipping market. This news piece follow up on BIMCO market reports and comments to commercial developments for the three main shipping segments. Source: BIMCO
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sgng123 Supreme	28-Aug-2014 01:37        sgng123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	when nol decided to divest away apl terminal in US west coast, the days of NOL staying listed is numbered. APL logistics IPO might already be in progress and most likely to be listed in the US market as NOL did not deny they are planning to divest/IPO it when the news leak out. APL terminal in west coast valued between US$600 - 800mil  according to JOC but again this is roughly a estimate. As all noticed, lot of carriers are already starting to sell off their non core asset and their liner business getting more and more commercial, taking in more spot rate contract and less yearly  contract. MOL and Kline depose of their interest in US west coast  terminal in 1H14, maesrk deposed of their supermarket holding last year and recently head quarter in US. Every liners are trimming down their asset and staying focus on cutting cost to stay profitable. NOL still got more room to cut and improve, just need the courage and determination to push through the reform and start cutting jobs and divestment. eventually NOl would be privatised when the divestment began, APL logistics  is the starter. one thing that surprised me is that APL logistics can be divested for 750-900M meaning there might be more hidden value in NOL shipping group, just need another ooi to start digging it and unlock the value forshare holders. Lucky03      ( Date: 26-Aug-2014 10:16) Posted: NOL may even announce a deal on APL Terminal before any deal on APL Logistic if the report below is accurate. US terminals in M&A flurry in International Shipping News 26/08/2014 M&A activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today?s deals is different. The US container terminal sector has seen numerous high profile deals so far this year as Table 1 shows. Most of the parties on the buy side of the deals are infrastructure and financial players ? the same type of buyers that were most active in acquiring US terminals in the mid-2000s. Their aims and motivations today though are somewhat different to what they were. Table 1 Recent US Container Terminal M&A Deals * Prince Rupert in Canada also Source: Drewry Maritime Research (www.drewry.co.uk) In the early and mid-2000s, in the run up to the global financial crisis, US container terminals were ?selling like hot cakes? to financial investors. There was strong competition to acquire them and prices paid hit record levels in many vases (in excess of 20 times EBITDA). This exceptional blip was caused by a combination of high expectations about future volume growth prospects and a large pool of available low-cost money looking for somewhere to invest. Businesses such as Maher Terminals were acquired by RREEF (Deutsche Bank) and OOCL?s terminals in New York/New Jersey and Vancouver were bought by Ontario Teachers? Pension Plan. Goldman Sachs took a 49% stake in SSA Marine?s parent company and AIG acquired P&O Ports North America (POPNA) from DP World (as a forced sale), with POPNA ultimately becoming part of the Highstar Capital owned Ports America brand. US terminal throughputs had been booming since the early 2000s due to the combination of the entry of China into the WTO and good US economic growth. However, the global financial crash sent US container volumes into reverse and they have only just recovered to their pre-crash level (Figure 1). Figure 1 Development of US Container Port Volumes, 2000-2013 (million teu) Source: Drewry Maritime Research (www.drewry.co.uk) Currently, another buying spree is underway, but why are financial investors still interested in US container terminal businesses? After all, it is a mature market with relatively low, single digit growth prospects. The terminals operate in a country with amongst the most unionised and highest cost dock labour in the world, and EBITDA percentage margins are relatively low by world standards. There are several reasons to today?s enthusiasm. Firstly, acquisition prices for container terminal businesses are much lower today than they were in the boom period (typically 8-12 times EBITDA today). Secondly, whilst EBITDA margins of terminals are relatively low in percentage terms, the US has some of the highest terminal tariffs in the world, so the absolute EBITDA per box is significant. Thirdly, the US represents a low risk, stable place to invest, which suits many financial players? investment criteria. Fourthly, automation is gathering pace in US terminals, offering the chance to reduce labour costs by making capital investment instead. The terminal developed by APMT in Virginia makes extensive use of automation and has been in operation since as early as 2007. It is now being joined by Global Container Terminal in New York/New Jersey which has recently implemented a significant degree of yard automation. Meanwhile on the west coast, two major terminal re-developments are taking place which include installation of extensive automation ? OOCL?s Long Beach Container Terminal and the MOL (TraPac) terminal in Los Angeles. The precise extent to which automation results in lower labour costs for US terminals remains to be seen though. There are two key factors likely to generate more M&A activity in the US terminal sector over the coming months. Firstly, the continuing financial pressure on carriers may motivate more of them to sell stakes in their terminals. Secondly, financial investor churn is evident. Investors that put money into terminals in the mid-2000s are reaching the stage where an exit is sought as funds reach maturity. The focus of this additional deal activity is likely to be more on the USWC that the USEC, as private terminal ownership is more prevalent on the west coast (see Figures 2 and 3). In addition, carrier ownership of terminals is most prevalent on the USWC. Figure 2 Type of Container Terminal Ownership: US East Coast (million teu, 2013) Source: Drewry Maritime Research (www.drewry.co.uk) Figure 3 Type of Container Terminal Ownership: US West Coast (million teu, 2013) Source: Drewry Maritime Research (www.drewry.co.uk) Our View The US container terminal sector is once again a hot spot for M&A deals, albeit the driving factors are somewhat different to what they were. More deals may well be seen in the coming months. Source: Drewry Maritime Research (www.drewry.co.uk/ciw)
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Lucky03 Elite	27-Aug-2014 23:35        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Singapore Stock Market News A platform to share Singapore Stock Market & Regional News ▼ Thursday, August 21, 2014 Neptune Orient Lines (NOL) - Potential spin-off of APL Logistics likely to reduce NOL's financial burden but increase earnings volatility NOL is exploring options to improve the strategic positioning and performance of its businesses which includes considerations of a potential sale or initial public offering (IPO) and listing of its logistics business as a separate, stand-alone unit from NOL for around $750 million to $900 million according to news reports. These considerations are preliminary and exploratory in nature. There is no assurance that any definitive transaction for the sale or an IPO of NOL's logistics business will be concluded according to NOL (source: Company announcement, Reuters). · JPM View: A consideration of US$750MM-US$900MM would value APL Logistics at 35%-42% of NOL?s current market cap. We view this potential unlocking of value positively but would not turn buyers on the back of this potential one-off event based on our preliminary assessment. Stay Neutral on NOL (1.1x P/B, loss-making, 2.1x net debt-equity). Our top pick in the Asian container shipping sector is OOIL (0.8x P/B, profitable, 0.3x net debt-equity) which is also growing its logistics segment. · Helps reduce NOL?s financial leverage: Spinning off its logistics business not only helps unlock value in NOL Group but could also help to reduce NOL?s financial burden, high interest expenses and partially fund its future capex. If NOL manages to raise US$750MM-US$900MM from the sale of APL Logistics, it could lower NOL?s net debt-equity from 2.1x to c.1.6x-1.7x. · Enables logistics segment to grow independently and do M&A: This could help APL Logistics grow independently of the Liner?s business in new markets, acquire more third-party customers and to support its future M&A activities (even though the capital requirements are not expected to be large and will take time to materialize, according to management). · Increases earnings volatility: The flip side is that NOL?s earnings could be more volatile than before as it will no longer have any earnings contributions from APL Logistics, which is a profitable business with c.4% EBIT margin (assuming a complete divestment). APL Logistics contributed an EBIT of US$14MM in 2Q14 which helped to partially offset APL Liner (ie container shipping business)?s loss of US$29MM. In 2013, APL Logistics contributed an EBIT of US$64MM which helped to offset APL Liner?s loss of US$231MM. · Retaining a stake in APL Logistics could be a better outcome: We believe a potential IPO of APL Logistics would make more strategic sense than a complete spin-off as it would help NOL retain a stake in a higher-margin business with good growth opportunities and is highly complementary to the liner business. APL Logistics? revenue contribution was 63% US driven, 27% Asia/Middle East-driven and 10% Europe-driven in 2013. · Comparing valuations with sector peers: US$750MM-US$900MM would value APL Logistics at around 11x to 13x P/E, 10x to 12x EV/EBITDA and 6x to 7x P/NAV based on 2013 results. The Asian and global logistics sector are trading at 20x 2014E P/E, 12x EV/EBITDA and 2x P/B on average. · NOL still needs more capital to fund future growth even after potential sale of Logistics business: NOL (the world?s 7th largest carrier) has been incurring substantial losses which significantly eroded its shareholders? equity and NOL?s net debt-equity surged to 2.1x at the end of June. NOL?s capex needs should be small going forward as all of its newbuild vessels have already been delivered and management commented that NOL is still far from any liquidity stress and has good financing lined up for its working capital needs. However, we believe it c make sense for NOL to consider raising equity to reduce its interest burden longer term. There is also a possibility that NOL may order more vessels for fleet replacement and to compete with 2M (comprising of the world?s largest carrier Maersk and second largest carrier MSC) together with its G6 alliance partners (comprising of NOL, OOIL, Mitsui OSK, NYK, Hyundai Merchant Marine and Hapag Lloyd) and may need access to more funding (see our previous note on 2M for more details). · Expect more corporate action from NOL: We think more needs to be done to improve NOL?s financial position apart from the potential spin-off of APL Logistics. To beef up NOL?s balance sheet and bring down its net debt-equity to 0.5x, we estimate NOL will need to raise another S$2.7B (even after receiving US$750MM-900MM from the potential disposal of APL Logistics). Alternatively, Temasek Holdings (which already owns a 67.1% stake in NOL) could look to privatize NOL to facilitate a more comprehensive restructuring, in our view. Privatizing NOL would cost Temasek Holdings c.S$869MM (based on NOL?s current share price). (Read Report)
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hem2998 Veteran	27-Aug-2014 19:25        hem2998 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Neptune Orient Lines Upgrade to OUTPERFORM (Credit Suisse) Rating raised to OUTPERFORM as liner sector gets a lift We have raised our rating from Underperform to OUTPERFORM for Neptune Orient Lines (NOL) as we observe the liner shipping sector displaying the same characteristics as it did in the last four months of 2012, during which time sector stock prices rallied 14%. Full report ?? We see port congestion in major ports (especially for large vessels) and potential box shortages constraining supply combining with demand that is surprising on the upside as being conducive to rate increases ahead of expectations. ?? We have lifted our earnings estimates for NOL from a loss of S$12 mn to NPAT of S$15 mn in 2014 and lift our estimate for 2015 estimate 38% to S$105 mn on better volume and rate expectations in 3Q14 and their flow through to the following year. ?? We have also lifted our target price for NOL from S$0.90 to S$1.15 as a consequence of the earnings improvement, but also as we perceived both asset values rising and multiples likely to expand. Our new TP is based on a target P/B of 1.1x. Capacity drive rates, rates drive stock prices ?and we see capacity coming down at the same time as demand is rising, laying the foundations of a very firm 3Q peak season. Demand growth averaged 7% in 2Q14 amongst our universe and had risen robustly in figures to June (EU box volumes +7% YTD, US imports up 2%, Asian exports +6%). The factors driving demand (employment, housing starts and inventory levels) look set to maintain demand growth momentum in 2H14. While vessel deliveries continue apace, congestion levels ? especially at ports handling large vessels ? have exceeded these. There is also congestion at some of Asia's feeder ports that is playing to this theme. Meanwhile, operators are identifying box shortages as another potential supply-side constraint. Combined with better demand, we see this as reading through to a robust 3Q peak in both volume and rate terms, with earnings expected to exceed 3Q12, given the effects of large vessel and alliance efficiencies together with lower bunker prices. Liner stocks gained 14% from early September 2012 to end-December 2012 and we feel that they are well placed to repeat that gain as 2014 closes. Meanwhile, vessel utilisation is being affected by port congestion and container shortages, which we believe will make a material difference to 2H14 supply. Port infrastructure development has lagged the delivery of large ships, which vessel types continue to dominate deliveries in the months ahead, suggesting little respite from capacityabsorbing bottlenecks. NOL's earnings are expected hit consistently positive territory starting from 3Q14 as improved Transpacific spot rates benefit it, as well as increases in some of its short sea markets. With a large proportion of its rates contract-based, NOL's earnings lift is not expected until next year when Transpacific rates re-set, but meanwhile we anticipate that it will trade back to the 1.1x P/B levels that characterised 3Q/4Q12 and which remain still at a discount to the company's post GFC mean of 1.2x. When marked to market, desk-top valuations show NOL at a slight premium to the market value of its assets, however, the youth of its fleet and its logistics business' potential value (as much as US$1.1 bn) suggest that this is really a discount.
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Lucky03 Elite	27-Aug-2014 17:31        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Firm closing despite the D Day for the extremely high volume transacted last wed.
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Lucky03 Elite	27-Aug-2014 01:11        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	PUBLISHED AUGUST 27, 2014 Maersk Line aims to raise freight rates from Asia to Europe OSLO The world's biggest container shipping company Maersk Line, a unit of A Moller-Maersk, said it plans to raise freight rates on routes from Asia to northern Europe by $400 per 20-foot container (TEU). The new rates will take effect from Sep 1, the company said in a newsletter to shippers on Tuesday. Higher rates on the busiest freight routes between Asia and northern Europe would help companies, which have been struggling with overcapacity as a result of a weak global economy. Only a handful of container shipping companies posted profits last year. On average, shipping freight spot rates between Asia and northern Europe fell 7.7 percent to $1,106 per TEU in the last week ended on Aug 22. - Reuters
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Lucky03 Elite	26-Aug-2014 13:05        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is renewed hope of additional ECB Stimulus. PUBLISHED AUGUST 26, 2014 Seoul: Shares climb on ECB stimulus talk, won firms on exporters [SEOUL] South Korean shares rose on Tuesday as risk appetite was rejuvenated by hopes of additional stimulus action by the European Central Bank to boost the stagnant euro zone economy. Equity markets worldwide rallied after ECB President Mario Draghi said the central bank was prepared to respond with all"available" tools, raising expectations of renewed policy action on the horizon. "Investors were rather quick to forget about the hawkish tone coming from the US Federal Reserve, focusing more on fundamentals which have been encouraging," said Kim Dae-joon, an analyst at LIG Investment & Securities. "Rate hike or not, news of a healthier economy is never a bad thing," he added.
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Lucky03 Elite	26-Aug-2014 10:16        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	NOL may even announce a deal on APL Terminal before any deal on APL Logistic if the report below is accurate. US terminals in M&A flurry in International Shipping News 26/08/2014 M&A activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today?s deals is different. The US container terminal sector has seen numerous high profile deals so far this year as Table 1 shows. Most of the parties on the buy side of the deals are infrastructure and financial players ? the same type of buyers that were most active in acquiring US terminals in the mid-2000s. Their aims and motivations today though are somewhat different to what they were. Table 1 Recent US Container Terminal M&A Deals * Prince Rupert in Canada also Source: Drewry Maritime Research (www.drewry.co.uk) In the early and mid-2000s, in the run up to the global financial crisis, US container terminals were ?selling like hot cakes? to financial investors. There was strong competition to acquire them and prices paid hit record levels in many vases (in excess of 20 times EBITDA). This exceptional blip was caused by a combination of high expectations about future volume growth prospects and a large pool of available low-cost money looking for somewhere to invest. Businesses such as Maher Terminals were acquired by RREEF (Deutsche Bank) and OOCL?s terminals in New York/New Jersey and Vancouver were bought by Ontario Teachers? Pension Plan. Goldman Sachs took a 49% stake in SSA Marine?s parent company and AIG acquired P&O Ports North America (POPNA) from DP World (as a forced sale), with POPNA ultimately becoming part of the Highstar Capital owned Ports America brand. US terminal throughputs had been booming since the early 2000s due to the combination of the entry of China into the WTO and good US economic growth. However, the global financial crash sent US container volumes into reverse and they have only just recovered to their pre-crash level (Figure 1). Figure 1 Development of US Container Port Volumes, 2000-2013 (million teu) Source: Drewry Maritime Research (www.drewry.co.uk) Currently, another buying spree is underway, but why are financial investors still interested in US container terminal businesses? After all, it is a mature market with relatively low, single digit growth prospects. The terminals operate in a country with amongst the most unionised and highest cost dock labour in the world, and EBITDA percentage margins are relatively low by world standards. There are several reasons to today?s enthusiasm. Firstly, acquisition prices for container terminal businesses are much lower today than they were in the boom period (typically 8-12 times EBITDA today). Secondly, whilst EBITDA margins of terminals are relatively low in percentage terms, the US has some of the highest terminal tariffs in the world, so the absolute EBITDA per box is significant. Thirdly, the US represents a low risk, stable place to invest, which suits many financial players? investment criteria. Fourthly, automation is gathering pace in US terminals, offering the chance to reduce labour costs by making capital investment instead. The terminal developed by APMT in Virginia makes extensive use of automation and has been in operation since as early as 2007. It is now being joined by Global Container Terminal in New York/New Jersey which has recently implemented a significant degree of yard automation. Meanwhile on the west coast, two major terminal re-developments are taking place which include installation of extensive automation ? OOCL?s Long Beach Container Terminal and the MOL (TraPac) terminal in Los Angeles. The precise extent to which automation results in lower labour costs for US terminals remains to be seen though. There are two key factors likely to generate more M&A activity in the US terminal sector over the coming months. Firstly, the continuing financial pressure on carriers may motivate more of them to sell stakes in their terminals. Secondly, financial investor churn is evident. Investors that put money into terminals in the mid-2000s are reaching the stage where an exit is sought as funds reach maturity. The focus of this additional deal activity is likely to be more on the USWC that the USEC, as private terminal ownership is more prevalent on the west coast (see Figures 2 and 3). In addition, carrier ownership of terminals is most prevalent on the USWC. Figure 2 Type of Container Terminal Ownership: US East Coast (million teu, 2013) Source: Drewry Maritime Research (www.drewry.co.uk) Figure 3 Type of Container Terminal Ownership: US West Coast (million teu, 2013) Source: Drewry Maritime Research (www.drewry.co.uk) Our View The US container terminal sector is once again a hot spot for M&A deals, albeit the driving factors are somewhat different to what they were. More deals may well be seen in the coming months. Source: Drewry Maritime Research (www.drewry.co.uk/ciw)
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Lucky03 Elite	26-Aug-2014 09:08        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	That will close the gap up from 0.98 last week. However, I see that as quite unlikely as any updates on the progress of the plan for APL Logistic will reignite the interest and excitement of NOL again. Also monitor if the super high volume traded last wed will be well absorbed. spore1      ( Date: 25-Aug-2014 15:36) Posted: Breakdown 1.00 may go down to 98 cents spore1      ( Date: 22-Aug-2014 22:30) Posted: still not out of the wood. have to be able to take high risk if u want to play this counter..
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spore1 Supreme	25-Aug-2014 15:36        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Breakdown 1.00 may go down to 98 cents spore1      ( Date: 22-Aug-2014 22:30) Posted: still not out of the wood. have to be able to take high risk if u want to play this counter.. Lucky03      ( Date: 22-Aug-2014 22:06) Posted: Would selling APL Logistics be good for NOL? By Marcus Hand from Singapore As the losses mount year on year it can be difficult for companies to find a successful strategy to get back on an even keel again. One strategy can be to sell assets or divisions of the group as a whole. The problem with this strategy often is that the most sellable part of the company will almost certainly be the part that actually makes money, even though it is not the core business. It would seem to be the position Neptune Orient Lines (NOL) has found itself in after other scenarios have failed to transpire. Consolidation would appear to have been one route for NOL, but it has been unable to achieve this despite some clear attempts over the years since it acquired APL. And endless rounds of cost savings have still left the liner business losing money. It has also often talked about developing its profitable logistics business to become a much greater part of the overall business, however, it has stuck at just below the 20% mark of revenues for many years now. So it was perhaps no surprise NOL this week clarified that it was looking at a possible sell-off or listing of APL Logistics, although did make it clear any such plans were in very preliminary stages. Reportedly looking for $750m if it sells, it would be a nice boost for the company. But it is also a one-time thing. An initial public offering (IPO) is a more interesting option as it would keep the logistics arm within the group, albeit diluting its stake, and at the same time provide funds, without taking on more bank debt, for the potential logistics acquisitions NOL talked about at its half year results two weeks ago and hopefully then growing that successful business. Should it choose to go down the sale route for APL Logistics, and assuming a willing buyer offering the right price, it would leave NOL as a pure play container line, which might make consolidation easier. However, apart from multi-time failed suitor Hapag-Lloyd, which is busy merging with CSAV, it is a little bit hard to see who else might be interested. Hong Kong-based, Tung family-owned, Orient Overseas Container Line (OOCL) might be a possibility, but given they have found profitability where many others have failed it would seem somewhat unlikely. An IPO for APL Logistics certainly would not solve NOL?s woes but it could well help set it on the right path for the future.
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earlybird14 Supreme	25-Aug-2014 10:08        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	US has no intention to participate any war at this moment, their economic are recovering and stable is required. Ulkraine used to be part of soviet union and was close with Russian since independent. US is very clear that Russian is protecting their right and boundary in Eastern Europe. The strategy that US using in Ulkraine is same as China against Taiwan. Taiwan and Ulkraine are facing the same problem and made use by US to set up their influencing in the region. Russia and China are 2 strongest emerging countries and compared to US and Europe which are sunset developed country, especially europe. No war will occur, tension will continue. The shipping market doesn' t exist any booming reason in next 5 years but facing all these uncertain political issue. NOL already has problem on breakeven with present freight rate, this will never change. I just think that majority of NOL investors are missing the focus. The focus shall not be on the market and world development but shall be on NOL operating strength and financial strength. NOL lose competitive in the market, what can make them to come back to green book except expecting another shipping market boom like 2005 to 2008. The world doesn' t have 2nd China miracle in next 5 years.   counter      ( Date: 23-Aug-2014 07:44) Posted: Stocks dropped early in the day after NATO said it has seen large transfers of advanced weapons and sees an alarming build-up of Russian forces near Ukraine. Trucks carrying what Russia says is humanitarian aid crossed the border into Ukraine, whose government said the move amounted to an invasion because the convoy moved without its consent. [bloomberg] I understand that this will affect not just NOL but the stock market as a whole. Indeed, it will also affect virtually every form of investment. Earlybird and Lucky03, What is your assessment of the impact of a further escalation of the  situation on the stock market as a whole and NOL in particular due to the potential spike in oil prices?
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Lucky03 Elite	23-Aug-2014 19:24        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Chanced upon this article that was just a few years ago and the fate of NOL has twisted so much. I was one of those who cut NOL loose soon after the fate made a wrong turn and when NOL made a rights issue and decided to return after 2 years on the sideline monitoring its development and the industry at large. Be warned, this is back in 2010 so I do not want to be accused of misleading anyone ! Just Indulging in a bit of nostalgia :) Who knows, it may return sooner than anyone's guess ... Wonder if any of the analysts mentioned still around. Analysts give NOL the thumbs up Joyce Hooi Thu, Oct 21, 2010 The Business Times AFTER Neptune Orient Lines (NOL) continued its comeback story with a third-quarter net profit and soaring revenues, analysts responded in kind by upping the group's target price in reports, practically across the board, yesterday. OCBC Investment Research's Lee Wen Ching raised her target price for NOL from $2.41 to $2.50 and maintained its 'buy' rating in her report yesterday, now that the good times - and possibly dividends - are on the brink of reappearing. 'Management has guided for FY2010 to be profitable, implying that dividends are likely to be restored this year,' she said. If dividends are restored after the end of the financial year, it will put an end to the payout drought that started after NOL posted a net loss of US$740.8 million for FY2009. Last year, NOL set in place a policy of paying an annual dividend of 20 per cent of net profit. NOL posted a net profit of US$282.26 million on Tuesday, remaining in the black for the second consecutive quarter after six brutal loss-making quarters that saw the shipping sector take a whipping. Over at DBS Group Research, analyst Suvro Sarkar also priced the group at $2.50 a share, raising the target price from $2.40, with a 'buy' rating. The recovery in freight rates and volumes bodes well for the sector as a whole, according to Mr Sarkar. 'We are not looking at a crash in the container sector again anytime soon, as liners continue to maintain capacity discipline,' he wrote in his report yesterday. 'With an order book of less than 30 per cent of fleet and expected net fleet addition of 6-7 per cent in FY2011 matched by similar demand growth, we believe steady profitability will not be an issue for the sector in the near to medium term.' While tagged at a lower target price of $2.36 by Phillip Securities Research, the stock vaulted from 'hold' to 'buy' in analyst Alfred Low's books. 'NOL has placed an order for 12 new container ships that will be delivered in 2013 and 2014. This shows that NOL is confident on the outlook for the shipping industry,' Mr Low said in his report yesterday. The counter was part of yesterday's clutch of heavily traded shipping stocks, such as Berlian Laju Tanker, Yangzijiang Shipbuilding Holdings and Cosco Corporation (S), that have recently risen on a tide of investor goodwill towards the shipping sector. 'I have been relatively bullish about NOL since a month back after more of my clients started enquiring about shipping and shipping-related companies . . . With the pick-up in the global economy, I was relatively confident that NOL would be a major beneficiary,' said Shane Ng, a remisier with Kim Eng Securities. Year-to-date, the stock has gained 29 per cent - closing at $2.13 yesterday - compared to the Straits Times Index's 8.9 per cent gain.
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Lucky03 Elite	23-Aug-2014 18:53        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Interesting conspiracy theory :) Carriers? windfall: crafty or lucky? The focus among most of those involved in international logistics in the U.S. today revolves around the ongoing negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association and the impact of the talks on access and costs to container services. Capacity to ports on the U.S. East Coast is at a premium, boosting spot rates for carriers. During what some are now calling planned protracted negotiations, shippers continue to make the U.S. East Coast a priority, fearing disruptions on the West Coast. The fear has short- and long-term effects. First, in moving some freight away from the West Coast, shippers are filling vessels to the East Coast. Second, the market may be moving goods earlier than usual to avoid any disruptions, because not only are the ships full to the East Coast, but those serving the West Coast also are operating at high utilization levels. In a sense, this is an early peak season, and the rate increases associated with peak season are certainly in play. Spot rates to the U.S. East Coast are more than $4,000 per 40-foot container, in some cases $4,200-plus. The increases are less severe on the West Coast, but they?re still there. This is, of course, good news for ocean carriers, which are getting much-needed additional revenue from the spot market with the possibility that the third quarter will be a decent, if not exceptional, quarter for them. The first two quarters certainly haven?t been successes for most, so it appears carriers are taking what advantage they can of the current conditions even if it only affects 30 percent of their business. The interesting issue is the suggestion that this was somehow planned, that, noting the reaction of the market in the early stages of ILWU-PMA negotiations, the carriers decided to lengthen the time frame for talks. They knew the issue over the $150 million in taxes the industry faces under the Affordable Care Act would be contentious and they used it as an excuse to lengthen the negotiations while the work at the ports and terminals continued virtually unaffected, and the cargo continued to move in relatively heavy volumes. Are they that clever? Not many would accuse them of that based on history when they had antitrust immunity and conferences, they never really took advantage of it. Have they evolved since they lost that authority? It almost seemed so in 2010 when they collectively anchored more than 600 vessels and got rates up and stabilized, to the point that they all made money that year. But they haven?t repeated the action since, and the industry has lost billions of dollars. So, is this another one-time incident, with no ongoing effort to change the supply-demand ratios, absent the attempts at doing so through now the 2M, G6 and CKYHE alliances? Or are the carriers betting on this being a true upward swing in global volume that will last beyond October? With all of the apparent financial issues the vast majority of carriers face, one would think they they might not want to make a short-term adjustment, but base their decisions on the long term. Nothing in the immediate future indicates that many of them have made that long-term decision, especially those on the fence about ordering vessels large enough to be competitive in the long-haul Asia-Europe market. Mediterranean Shipping Co. apparently sees the benefit of having the mega-ships, using an intermediary to order three 19,200-TEU vessels. Many other carriers appear to be like deer caught in the headlights of an approaching car, knowing the oncoming lights are dangerous, but afraid to move. Their bottom lines, meanwhile, continue to be poor, at best. A lot of conjecture exists as to why there?s so much hesitation and no need to speculate. But simply put, as I have said on numerous occasions, carriers that don?t have the larger vessels ? which I define as 18,000 TEUs and up ? can?t be competitive in the Asia-Europe market, so why be there? Are they betting that the low-cost carriers will allow rates to rise to enable the higher-cost carriers to survive, enhancing their own bottom lines in the short run? Or might the low-cost carriers simply bide their time until some that are losing money in that market decide to leave? In a sense, it?s a no-lose situation for the low-cost carriers, and a no-win situation for the others. It?s hard to imagine conditions such as this in other mature industries, but the ocean carrier industry isn?t a typical mature industry. The labor issue on the West Coast, however, has brought about interesting conditions typical of our favorite industry. What?s next? Gary Ferrulli, a 40-year shipping industry veteran, is president of Global Logistics and Transport Consulting in Chandler, Arizona. Contact him at [email protected].
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counter Veteran	23-Aug-2014 08:13        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Please do not take this as an attempt to talk down NOL. Indeed, NOL is a great company, although less so compared with Maersk. Although the Ukraine conflict has not kept me up at night, the recent escalation  has induced me to rethink about my investment portfolio. The two bros are among the most knowledge in the shipping industry and that is why the question is posed to you. You dun expect me to pose the same question to bro danger when he thinks that the economic sanctions are imposed on Ukraine rather than Russia and the European Union in actual fact?
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counter Veteran	23-Aug-2014 07:44        counter About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Stocks dropped early in the day after NATO said it has seen large transfers of advanced weapons and sees an alarming build-up of Russian forces near Ukraine. Trucks carrying what Russia says is humanitarian aid crossed the border into Ukraine, whose government said the move amounted to an invasion because the convoy moved without its consent. [bloomberg] I understand that this will affect not just NOL but the stock market as a whole. Indeed, it will also affect virtually every form of investment. Earlybird and Lucky03, What is your assessment of the impact of a further escalation of the  situation on the stock market as a whole and NOL in particular due to the potential spike in oil prices?
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