NOL: More evidence scholar screwed up

In Media, Political economy, S'pore Inc, Temasek on 19/09/2017 at 10:13 am

Looks like NOL was sold juz when the shipping cycle was about to turn (finally).

Yesterday FT’s authoritative Lex column said under the title “Container shipping: surf’s up

Now that the industry is rationalising, how high can prices go?”

Industry volume growth is expected to hit 5 per cent this year, from 3.8 last year. Scrapping rates have picked up, while new capacity on order is finally falling. Such newfound discipline might last longer than in previous cycles because consolidation has increased the market share of the top six operators to almost two-thirds, from two-fifths in 2013. Four alliances have become three.

Well the ex-general, scholar and ex-Temasek MD running NOL is now CEO of SPH. Good luck to the shareholders.

Here’s real meritocracy at work: US navy when there’s a suspected systematic problem PM, this is accountability

  1. The Frogs at CMA CGM has made NOL profitable since start of 2017, just 6 months after buying it from S’pore. The 1st quarter 2017 profits represented NOL’s first profits since 2011.

    BDI has recovered strongly since beginning 2016, and has appeared to be in an up-channel, with price now approaching the upper band of the channel.

    Biz leaders made of sterner stuff would have been able to turnaround NOL by mid-2016, instead of capitulating … Makes you wonder what SAF generals & admirals would do in the face of enemies tougher than keyboard terrorists … Little birdies tell me they all have overseas mansions & 1-way 1st class tickets on 24-hr standby. Hohohoho!!!!

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