John Fredriksen could be pleased with his share-buying instincts today after new investment Neptune Orient Lines (NOL) reported a near-tripling in profits for the second quarter.

NOL’s net profits for the quarter reached $186m, against $68m in the same period last year, on the back of a 20% increase in liner volumes and higher charter rates.

David Lim
Group president David Lim said profit growth had been achieved by squeezing better returns out of the group’s activities.

While