NOL is +3.0% at $1.205 at 2:50 p.m. “It’s just recovering from the sell-down post its results,” one analyst says. Another analyst notes container shippers are rising regionally.
In a report, Deutsche Bank notes the Shanghai Shipping Exchange’s SCFI index fell 0.5% on-week last week, but the decline was on Shanghai-to-Europe routes, while Shanghai-to-U.S. routes posted rate rises on-week.
Amid soft Asia-Europe volume, carriers are cancelling certain voyages, resulting in higher loading rates, DB says " the solid vessel utilization should help to prevent rates sliding in any large scale going forward.” It adds, strong Transpacific routes, with firm loading rates, helped carriers push through a peak-season surcharge this month, with another general-rate-increase planned for September.
It estimates average 3Q rates will be more than 10% higher than 2Q’s, suggesting liners’ strong earnings recovery will continue it estimates a 1% rate increase can boost liners’ 2012 earnings an average 72%. It remains positive on the sector, expecting a better 3Q to be a positive catalyst.
It rates NOL Buy with $1.55 target. Last week’s $1.22 peak may offer a cap.
ok...NOL supported by 50 dMA at 1.15...more upside ahead...watch out....this fellow is like Noble...they takes a long time to build up the presssure and then the rocket flies off....blast....up and up and up....no guarantee....hor...i think Temasek coming in to support liao...like last round....History tends to repeat...
cheers,
jason.
dragonhart ( Date: 10-Aug-2012 12:54) Posted:
let's see if the 50 dMA at $1.15 will hold? if doesn't, maybe downtrend continues....
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