NOL

NOL: industry news continues to be the main driver. Investors may watch for the kicking in of rate hikes come 1 Jul across members of the Transpacific Stabilisation Agreement. This increase will hopefully help to boost rates ahead of the peak shipping season. However, note that the carriers continue to be plagued by over capacity issues. The industry will likely continue to rotate between periods of cooperation on supply discipline and independence, resulting in continued freight rate fluctuations. As freight rates are a key driver of liners' share prices, this could entail a sustained period of range bound trading.