“IHH Healthcare, the world’s second-biggest listed healthcare provider by market value, has replaced container shipping firm Neptune Orient Lines as a constituent of the Straits Times Index (STI) after a half-yearly review. The STI is the key benchmark for the Singapore stock market and is used as the basis of financial products including exchange traded funds, futures, warrants and other derivatives. STI constituents account for about 60 percent of stock market turnover and 65% of full market capitalisation, according to stock exchange data.”

In case you haven’t realize, a Malaysian based healthcare company has kicked our shipping giant out of the Straits Times Index.  Let’s look at the 10 year monthly chart of NOL.

You can see that the glorious days of NOL was in 2007-2008. It has not seen daylight in recent years with losses piling up.
I never like the shipping industry as it is very cyclical and …