Singapore Hot Stocks-NOL down as rough waters seen
SINGAPORE Nov 21 (Reuters) - Shares of Singapore container shipping firm Neptune Orient Lines (NOL) fell as much as 4.3 percent on Monday due to a mixture of concerns about weak demand and oversupply in the sector.
At 0302 GMT, NOL shares were down 3.3 percent at S$1.02, underperforming the broader Straits Times Index which was 0.8 percent lower. NOL stock has fallen more than 50 percent so far this year.
"The economic outlook is not great, and there is too much capacity in the industry," said Suvro Sarkar, an analyst at DBS Vickers.
"There has to be a coordinated idling of ships. If they continue to undercut each other and put on capacity and compete on prices, everyone will suffer."
Last month, NOL posted a wider-than-expected loss for its third quarter and warned of a possible full year loss for the year ended December 2011. (Reporting by Eveline Danubrata)
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