HONG KONG—Orient Overseas (International) Ltd., Hong Kong’s largest container line, fell the most in a month after it failed to propose another special dividend from the sale of container terminals.

The shipping line fell 6.3 percent to HK$45.45 at the close of trading in Hong Kong. It was the biggest drop since February 6.

The company has $1.8 billion in cash on its balance sheet, more than twice as much as a year ago, after it sold four container terminals in the US and Canada. The Hong Kong-based company will not repeat a special 80 cent dividend from the sale of the assets.

“Investors are disappointed that the company didn’t pay out another special dividend,’’ said Geoffrey Cheng, an analyst at Daiwa Institute of Research. “The company is inclined to be more prudent about its balance sheet under the current economic environment, especially facing a tightening of financing.’’

The company, controlled by the family of former Hong Kong chief executive Tung Chee-hwa, proposed a final dividend of 13.5 cents.

Orient Overseas posted a 10-percent increase in profit in the second half on higher demand for sea-cargo. Surging demand in Europe for toys, clothing and furniture made in Asia, boosted sales on Asia-Europe routes. That helped offset a 92-percent drop in operating profit from North America last year as shipping rates declined.

Net income was $331 million compared with $300 million a year earlier, according to Bloomberg calculations. Sales rose 29 percent to $3.14 billion.

“Volume growth will likely decelerate as the retail-sales data from Europe and the US paints a bleak picture,’’ said Johnson Man Leung, a Hong Kong-based analyst at JPMorgan Securities Ltd.

Second-half numbers were derived by subtracting first-half figures from full-year results released Wednesday.

Full-year profit more than quadrupled from a year earlier to $2.5 billion because of the sale of assets. Orient Overseas booked a $1.99 billion gain in the first half from the sale of four terminals in the US and Canada to help fund investments in faster-growing Chinese ports and new ships. Full-year operating profit, which excludes the one-off gain from the terminals, rose 11 percent to $687 million.

“With the strong euro likely to sustain the current pace of outsourcing to Asia and the recently announced fiscal and monetary stimulus measures in the United States, we expect much of the same trade pattern and growth of 2007 will continue through 2008,’’ the company said in the statement.

The price of bunker fuel traded in Singapore has risen 64 percent in the past 12 months. (Bloomberg)

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SEOUL—Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipbuilder, posted its smallest profit in a year in the fourth quarter as the company lost a bet the won would strengthen.

DUSSELDORF—TUI AG, Europe’s largest travel company and owner of the Hapag-Lloyd shipping line, said profit gained 47 percent in 2007 on improvements at both its tourism and marine divisions.

BRUSSELS—The European Union (EU) plans to push this year for curbs on ship emissions linked to climate change, broadening a crackdown that already targets the energy, manufacturing, airline and car industries.

HONG KONG—Orient Overseas (International) Ltd., Hong Kong’s largest container line, fell the most in a month after it failed to propose another special dividend from the sale of container terminals.