NOL's third-quarter operating profit likely shrank as peak season disappoints

Also expect another loss-making fourth quarter.

These predictions were made by OCBC, reasoning that Neptune Orient Lines has seen a rough third quarter, traditionally a strong peak season for the company.

"Despite industry wide efforts to push through general rate hikes, freight rates according to the Shanghai Containerised Freight Index show continued softening in Sep instead. With the traditional 3Q peak season weaker than expected and drawing to a close, we are likely to see freight rates subsequently head lower in 4Q13 as demand typically drops off, further affecting the ability of liners to force through rate hikes for the remainder of the year," said OCBC.

"That said, we are forecasting a much smaller core operating profit for NOL in 3Q13 and another loss-making 4Q13 to end a disappointing 2013," it added.