According to an August 9 report from Reuters, Seoul shares rose as investor hopes for further stimulus measures from the U.S. Federal Reserve strengthened ahead of its meeting, with gains in shipyards and banking stocks lifting the index. The Korea Composite Stock Price Index .KS11 (KOSPI) ended up 0.36 percent at 1,790.17 points.. (Source: Reuters)
By Se Young Lee, Reuters Seoul shares fell in early domestic trade Wednesday, touching a near-three week low as persisting worries about China's economic growth outlook cut appetites for riskier assets. The Korea Composite Stock Price Index (KOSPI) was down 1.2 percent at 1,939.86 points as of 0215 GMT. The index earlier traded as low as 1,938.60, its weakest level since Feb. 20. A sharper-than-expected slowdown in China would likely hurt earnings of major local manufacturers
South Korean stocks hit a fresh closing high Thursday as investors picked up shipbuilding and machinery shares, taking a cue from overnight gains in U.S. markets, analysts said. The South Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.98 points, or 0.94 percent, to 1,615.58. Volume was moderate at 445.7 million shares worth 4.67 trillion won (US$5.03 billion), with winners outpacing losers 544 to 226.
STX Shipbuilding Co., the world's fifth-largest shipyard, fell the most in two months in Seoul trading after six executives at a unit were indicted for stealing technology from a rival. The shipbuilder's shares dropped 7.3 percent to 53,000 won at the close. The stock has fallen about a third since Nov. 8, the day before prosecutors detained two of the six executives. The six executives took files with them when they left Doosan Heavy Industries & Construction Co
According to a report from Bloomberg, Seoul-based Samsung Heavy Industries Co. received orders to build six liquefied natural gas carriers worth a total $1.2b as demand for the fuel surges, prompting a jump in the shares. (Source: Bloomberg)
European Union (EU) and South Korean officials meet next week to try to settle a row over alleged subsidies to Korean shipyards and avert an EU threat to take the dispute to the World Trade Organization. Negotiators meet in Brussels on Monday and Tuesday. It could be the last chance for an amicable solution of the row over the EU's allegations that Seoul pays its shipbuilders illegal subsidies, subsidies which it says threaten the existence of European competitors
South Korean shipper Hyundai Merchant Marine Co Ltd said on Thursday that it had signed a preliminary deal to join a 2M vessel-sharing alliance of Maersk Line and Mediterranean Shipping Co (MSC), the world's two largest container shippers. The deal with the "2M carriers," which would take effect in April 2017, would enable the South Korean firm to strengthen its service offering and achieve improved cost competitiveness, the company said in a statement.
At the recent Korea-Russia Business Dialogue meeting held in Seoul attended by President Putin & President Park Guen-hye, the Korean Register (KR) and the Russian Register of Shipping (RS) signed a shipbuilding memorandum of understanding (MOU) bringing the two class societies closer together with a range of cooperative activities related to shipbuilding and offshore plant. The agreement includes: · Technical cooperation and
Diana Shipping Inc. has entered into a time charter contract with Hanjin Shipping Co., Ltd., Seoul, for one of its Panamax dry bulk carriers, the Oceanis, at a gross rate of $40,000 per day for a minimum 22 to a maximum 25 month period. This employment is anticipated to generate approximately $26.5m of gross revenues for the minimum scheduled period of the charter. The charter is expected to commence in mid-September, 2007.
1922 - Report on observations of experiments with short wave radio at Anacostia, DC, starts Navy development of radar 1941 - Launch of first Liberty ship, SS Patrick Henry, in Baltimore, MD 1942 - Armed Guard on SS Stephen Hopkins engages German auxiliary cruiser Stier and supply ship Tannenfels. Stephen Hopkins and Stier both sink. 1944 - Special Air Task Force (STAG-1) commences operations with drones, controlled by TBM aircraft, against Japanese in Southwestern Pacific
Satcom Global, a maritime satellite communications provider, and Intellian, a satellite antenna developer and manufacturer, have signed a strategic partnership agreement covering the global supply and distribution of maritime satellite equipment.
Marshall Islands corporation headquartered in Stamford, Connecticut Eagle Bulk Shipping Inc has announced that it has closed its previously announced private placement of its common stock for aggregate gross proceeds of $88.0 million.
Chief of Naval Operations (CNO) Adm. John Richardson met with his South Korean (ROK) counterpart, Adm. Jung Ho-sub at the Pentagon August 4 for a discussion focused on the strengthening partnerships and ways to work together to increase maritime security throughout the Indo-Asia Pacific.
The Seoul Central District Prosecutors’ Office summoned the chief financial officer (CFO) of Daewoo Shipbuilding & Marine Engineering Co. (DSME ) today (Friday) over his alleged involvement in the financially troubled company’s accounting fraud.
For the quarter ended June 30, 2016, net loss attributable to Seacor Holdings Inc. was $55.2 million ($3.26 per diluted share). For the six months ended June 30, 2016, net loss attributable to Seacor Holdings Inc. was $82.3 million ($4.88 per diluted share).
The Seoul Central District Court begins a rehabilitation process for STX Heavy Industries Co, after the financially strapped company applied for protection late last month, reports Yonhap. STX Heavy Industries is the latest victim in South Korea's faltering maritime industry
Transocean Ltd. and Transocean Partners LLC (NYSE: RIGP) today announced that Transocean has agreed to acquire all of the outstanding common units of Transocean Partners not already owned by Transocean in a share-for-unit merger transaction. In the merger
Malaysian offshore service provider Coastal Contracts is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil), reports the Star.
USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million. The New York-listed dry bulk ocean shipper posted revenue of $17.4 million in the period.
CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital. Monday July 18 marked the last day of trading in shares of NOL on the
Philly Shipyard, a U.S. commercial shipyard constructing vessels for operation in the Jones Act market has announced acash dividend to be paid by PHLY. The schedule is as follows: Dividend amount: USD 0.25 per share Declared currency: USD
The Cargo Shipping Market is estimated to gain momentum after fiscal year 2018 after years of sluggish growth. Cargo Shipping Market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021. According to report Cargo Shipping Market - Global Trends and Forecast to
Thailand-based Thoresen Thai Agencies (TTA) has disposed of all its holdings in affiliated ship agency Thoresen Shipping and Logistics Ltd (TSL). TTA said in an exchange filing that it had disposed of around 240,000 TSL shares to Thailand-based Naxco Shipping and Logistics.
The Annual General Meeting of BOURBON shareholders held on May 26, 2016 approved the payment of the dividend for 2015 of €1.00 per share and that each shareholder can choose to receive the dividend either in cash or in new shares. The period for exercising the option ran from June 15
Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today announces that the Company has purchased 192,415 of its own shares on Euronext Brussels for an aggregate price of EUR 1,528,211. Transaction