SINGAPORE (Nov 2): Deutsche Bank has rated Neptune Orient Lines (NOL) with a “buy” call and target price of $1.16, as it expects better supply and demand balance next year amid forecast of “a more favourable freight rate environment”.

The research house continues to show faith in the freight shipping company, though its losses in 3Q were widened dramatically.

NOL’s poor performance was blamed upon the severe freight rate erosion in major trade lanes as there was an absence of the traditional 3Q peak season in Europe and North America.

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