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
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 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)
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.
According to a June 21 report from Bloomberg, Hyundai Heavy Industries Co., the world’s largest shipbuilder, led advances among shipyards in Seoul trading on expectations that a stronger yuan will help improve their price competitiveness against rivals in China. Hyundai Heavy climbed 4.9%t to close at 236,000 won, the highest price since May 12. Samsung Heavy Industries Co., the world’s biggest maker of drill ships, gained five percent to 24,200 won.
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
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
A.P. Moller-Maersk will continue to invest in its shipping unit to retain its leading market share in the industry, which has experienced a prolonged slump, Chief Executive Nils Smedegaard Andersen said on Friday. Andersen referred to Maersk's decision, announced earlier this week
South Korea’s government is discussing whether to merge or sell Hanjin Shipping and Hyundai Merchant Marine in an attempt at state-led industrial restructuring. But the two lines in question belong to different container alliances
The Board of Directors of Vard Holdings Limited would like to announce that the Company has invested a total of NOK 0.027 million in its indirectly held subsidiary, Vard Tulcea SA (“Tulcea”), thereby increasing the shareholding in Tulcea to 100%.
Nordic American Tankers (NAT) has increased its shareholding in Nordic American Offshore (NAO) in an effort to shore up investor confidence in the latter. NAT bought 1,521,300 shares increasing its stake to 6,018,280 shares — 26.5% of NAO’s total shares for $9.5m, or $6
Container shipping group Hapag-Lloyd has received bids for all of the shares on offer for its planned stock market flotation on Oct. 30, a person familiar with the deal said. "Books are fully covered including greenshoe (overallotment option)," the source said on Friday.
Oil refiner Western Refining Inc said it has offered to buy the shares of Northern Tier Energy LP it does not already own. Western Refining, which currently has a stake of about 38 percent in Northern Tier, said it has offered $17.50 in cash and 0.2266 of its share for each Northern Tier unit
The annual Tripartite meeting between shipowners, shipbuilders and classification societies was held in Seoul, Republic of Korea on 16 and 17 October 2015. The meeting was attended by 100 high level representatives of the industry, including chairmen and executives of the Round Table
Investors have confirmed their orders for shares in Hapag-Lloyd's initial public offering, covering the books and the greenshoe option after the German shipper adjusted the price range, a source familiar with the matter said. "It went more quickly than expected
Japanese Prime Minister Shinzo Abe told South Korea's president on Monday he wanted cooperation between the two countries and the United States in maintaining an open and peaceful South China Sea, a Japanese government spokesman said. Abe has in the past been critical of China's assertiveness
The shares of German container line Hapag-Lloyd will now be offered at between 20 and 22 euros ($22-$24.20) each, down from 23-29 euros previously, reports Reuters. Its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6
Ardmore Shipping Corporation announced that GA Holdings LLC intends to offer for sale in an underwritten public offering 4,000,000 shares of the Company's common stock. The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 600
German shipping group Hapag-Lloyd priced its initial public offering (IPO) at the low end of a revised range, giving the group a market capitalisation of about 2.4 billion euros ($2.6 bln) or less than half the original target. Hapag-Lloyd shares were sold at 20 euros ($21
Hapag-Lloyd AG, the German container shipping company, has succeeded in completing its initial public offering (IPO), after a hard campaign in which the outcome sometimes looked in doubt. It has set the final offer price for its shares at €20 ($21
On 4 November 2015, the Board of Directors of Aker Philadelphia Shipyard ASA resolved to pay a dividend to the shareholders of AKPS as of expiry of 10 November 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment
Hapag-Lloyd CEO says IPO preparation a "tough fight" but firm reaps $300 million in proceeds. Shares in Hapag-Lloyd hovered around their issue price in their stock market debut as investors gave the German shipping group a lukewarm reception reflecting uncertainty over the resilience