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NOL better prepared for downturn without Hapag Lloyd

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SINGAPORE-based shipping company Neptune Orient Lines is expected to fare comparatively better heading into the downturn after opting out of its bid for Hapag Lloyd, analysts say.

“We think this is a wise move as we believe NOL would need all its financial resources to weather the coming prolonged downturn,” Deutsche Bank research analyst Joe Liew said.

Morgan Stanley analysts concurred saying, “the decision not to pursue the Hapag Lloyd acquisition from TUI AG indicates an extremely disciplined valuation approach not to overpay for a strategic container shipping franchise.”

Macquarie Research Equities analysts Jon Windham and Winnie Guo highlighted the move to pull out of the deal also as a positive, as well as the group’s “aggressive moves to protect profitability”.

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