NOL: Could see some negative sentiments after announcing its 3rd executive swap-out in less than 2mths. Grp’s current president of APL (NOL’s shipping line) has announced his resignation and will be replaced by Kenneth Glenn, who is currently the president of APL's North Asia region. Change comes five days after the stepping down of grp’s head of the shipping line's Pan- American Trades…..
Analysts note that spate of departures at firm points to change in strategy of some kind, note that shipping industry is headed for choppy waters, with rates, under pressure for the last two qtrs, expected to continue remaining depressed under the weight of oversupply of shipping capacity and fierce competition…..
OCBC add that going forward, industry will have to brace itself with recent spate of disappointing macro-economic data pointing to a moderation of recovery and may potentially hinder inventory levels and subsequently affect shipping vol.
No comments:
Post a Comment