Stock Earnings: NOL net profit fell 39%!

Neptune Orient Lines Ltd (NOL) may decline after reporting that its first-quarter net profit fell 39 pct year-on-year to 120 mln usd as container shipping rates softened and bunker fuel costs soared. NOL said it expects to see the continuing effects of high fuel costs on its earnings going forward. The outlook for freight rates also remains uncertain, and will depend largely on the extent to which demand can catch up with rising shipping capacity in the industry, it added. NOL closed 0.07 sgd lower at 2.28 Thursday.