Freight Transport: A Return Of Investor Appetite Warranted?

The June 2 announcement of a SGD1.44bn (US$1bn) rights issue by Singapore-based container shipping giant Neptune Orient Lines (NOL) not only hints at a return of investor appetite in an industry still struggling against the headwinds of the economic downturn, but could also herald an increase in consolidation through 2009. NOL reported a net loss of US$245mn for Q109, following decreased revenue from its core container shipping and terminal operating businesses, and falling income has resulted in the company reporting net debt of US$1.044bn as of April 3 2009 - an increase of US$228mn from the previous quarter. The rights

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