Shares of Neptune Orient Lines, the world’s sixth biggest container shipping firm, opened 8.8% lower after reporting a worse-than-expected quarterly loss due to high fuel costs and lower freight rates, reported Reuters.

At 9:11 a.m., NOL shares had extended losses and were trading around 10.88 percent lower at $1.27 a share, down $0.155.

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Neptune Orient Lines, owner of Asia’s No. 3 container line, posted its biggest quarterly loss in at least 10 years because of falling freight rates and higher fuel costs, reported Bloomberg.

The shipping line reported its fourth straight quarterly loss of US$320.4 million ($403.1 million) in the three months to Dec 30, compared with a more »

Neptune Orient Lines, parent of Southeast Asia’s biggest container line, plans to cut costs by US$500 million ($629 million) this year and increase freight rates after posting its biggest quarterly loss in a decade.

Spending cuts will come from steps including reduced fuel consumption, better fuel purchasing and improvements in network design, Chief Executive Officer more »

Shares of Neptune Orient Lines (NOL) rose as much as 4.8% to their highest since July after Maersk Line, the world’s biggest container shipping firm, said it will cut 9% of its vessel capacity in the Asia-Europe trade, reported Reuters.

“The planned capacity cut should support freight rates and people might be reading across to more »

Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) on Monday halted trading in its shares pending an announcement.

NOL, the world’s sixth-largest container shipping firm, has resumed talks about buying German rival Hapag-Lloyd (HPLG.UL), German paper Die Welt reported on Saturday without identifying its sources.

NOL broke off talks in 2008 after failing to more »

Shares of Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) fell as much as 4.3% on Monday due to a mixture of concerns about weak demand and oversupply in the sector. At 11:02 a.m., NOL shares were down 3.3% at $1.02, underperforming the broader Straits Times Index <.FTSTI> which was 0.8% lower. NOL stock more »

Neptune Orient Lines says for the 4 weeks from 24 September 2011 to 21 October 2011 (Period 10), container shipping volumes increased 13% to 241,100 FEU (Forty-foot Equivalent Unit) while average revenue per FEU  fell 18% to US$2,402 over the same period last year.

The increase in volume was mainly due to higher volumes carried more »

Neptune Orient Lines is still stuck in the red. Asia’s biggest container line, posted a third-quarter loss of US$91.1 million ($113.7 million), compared with a profit of US$282.3 million a year earlier.

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Container firm Neptune Orient Lines has reported a 19% fall in average revenue per container as shipping rates fall.

NOL says it carried 229,300 forty-foot equivalent units (FEU) during the four weeks to Sept 23, up 5% from 217,500 FEU a year ago.

However, the average revenue per FEU during that period fell to US$2,501 more »

Singapore’s Neptune Orient Lines (NOL) (NEPS.SI), the world’s seventh largest container shipping firm, reported a 5% rise in its cargo in the four weeks period to July 1 from a year ago but weakness in Asia-Europe rates pushed its average revenue lower by 13%. NOL said in a statement it carried 232,700 forty-foot equivalent (FEU) more »

For the four weeks of P6 2011 (June 4  to July 1), Neptune Orient Lines says container shipping volumes increased 5% to 232,700 FEU (Forty-foot Equivalent Unit) while average revenue per fell 13% to US$2,513 over the same period last year.

The increase in volume was mainly due to higher volumes carried on the Intra-Asia more »

Barclays Capital has upgraded Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) to equal-weight from underweight, but has cut its target price to $1.61 from $1.80.Barclays has upgraded NOL to equal-weight as its shares have fallen to a two-year low and are trading at 0.9 times its estimated 2011 price-to-book value.

The brokerage also more »

CLSA has initiated coverage of Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) with an underperform rating and a target price of $1.70.NOL has spent time restructuring its low-return logistics business and is now in a position to drive greater growth and expand margins, CLSA said in a statement.

The brokerage said it expects more »

Phillip Securities has downgraded Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) to hold from buy and lowered its target price to $1.51 from $2.50.

NOL is shifting its strategy from chartering 70% of its current capacity to owning most of them, Phillip said, estimating that NOL would require cash outlays of US$3 billion more »

OCBC Investment Research has lowered its target price on Singapore container shipping firm Neptune Orient Lines (NOL) (NEPS.SI) to $1.63 from $1.95 and maintained its hold rating.

OCBC said NOL’s average revenue per forty-foot equivalent unit has continued to fall in May due to lower rates on the Asia-Europe trade lane. The brokerage expects the more »

Neptune Orient Lines (NOL) (NEPS.SI), the world’s seventh-largest container shipping firm, said on Monday it carried 7% more cargo in the four weeks to June 3 from a year ago, helped by higher volumes on intra-Asia and Asia-Europe routes.

NOL carried 228,000 forty-foot equivalent units (FEUs) during the four-week period, up from 212,600 FEUs a more »

South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd (042660.KS) said it has received an order to build 10 large container ships worth 2 trillion won ($2.3 billion) for Denmark’s A.P. Moller-Maersk (MAERSKb.CO) as an option on a February deal.

The 10 container vessels were scheduled for delivery by May 20, 2015, Daewoo said in more »

Neptune Orient Lines said it signed an agreement to charter out five ships to Mitsui O.S.K. Lines of Japan. The vessels, which can each carry 14,000 20-foot containers, will be delivered by Hyundai Samho Heavy Industries Co. in 2013 and 2014, NOL said today in a statement to the Singapore stock exchange.

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