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Seoul Shares

Seoul Shares Up 0.4% on Shipyards

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)


Seoul Shares Touch 3-week Low as China Worries Persist

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


EU, S. Korea Will Try Last Minute Negotiations

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


Seoul Shares Close at New High on Shipbuilding

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 Shares Falls

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


Samsung Heavy $1.2B LNG Ship Orders

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 Announces Time Charter Contract for MV Oceanis

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.


Hyundai Heavy Leads Gains Among Korean Yards

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.


This Day in Naval History – September 27

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


Korean & Russian Classification Societies Sign MOU

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


Republic of the Marshall Islands Continues Strong Growth

Image: Republic of the Marshall Islands (RMI) Maritime and Corporate Registries

 International Registries, Inc. and its affiliates (IRI) provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries.   The RMI Maritime Registry has surpassed another significant fleet milestone


Seaspan Secures $540 Mi Financing

Logo

Issues $140 Million of 6.95% Series F Cumulative Convertible Perpetual Preferred Shares, Renews $150 Million Unsecured Revolving Loan and Enters into $250 Million Lease Financing HONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced


DryShips Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.


DSME Reveals Additional Self-Restructuring Plan

Photo: Daewoo Shipbuilding and Marine Engineering

 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.   The company’s creditors, led by the state-run Korea Development Bank


Cochin Shipyard, Samsung Heavy Pact for LNG Ship Project

Image: Cochin Shipyard Limited (CSL)

 Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships.   


North P&I Suggests Owners Join the CSO Alliance

North P&I Club has partnered with CSO Alliance, an online community of maritime company security officers (CSOs), to encourage its members to join and take part in security-related information sharing. In a first for the P&I sector, all CSOs in North’s 131 million GT owned fleet will


UltraShip Benefits from Eye-share, Logimatic Partnership

Ulla Lange, Senior Accountant at Ultraship (UltraShip)

Ship management company UltraShip is the first user of the paperless invoice processing system, SmartSCAN, in Sertica.   Eye-share has partnered with Denmark based Logimatic. The partnership forms part of Eye-share’s strategy to reach new, important customer segments


Royal Caribbean's Revenue up 5.6%

Ovation of the Seas (Photo: Royal Caribbean)

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's shares up 4 percent in premarket trading. Royal Caribbean also raised its full-year earnings forecast to $6.15-$6


Yilport Acquires Sweden's Gavle Terminal

Robert Yuksel Yildirim, Chairman of Yilport Holding. Photo: Yilport Holding Inc

 Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG). The Port of Gävle is Sweden’s third-biggest container port


Yilport Assumes Full Control of Gävle CT

courtesy Yilport Holding

Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG). The signing ceremony took place in Gävle, Sweden on 2 May 2016. The 30+10 year concession signed with Gävle Municipality awards Yilport Holding, a Yildirim Group subsidiary


No Merger for Ailing Korean Shipmakers

Photo: Hyundai Heavy Industries

 The South Korea government plans to drop its forceful measures to push ailing local shipbuilders to merge with each other as mergers or additional cash outlays to Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding and Marine Engineering (DSME) are unlikely


Total to Acquire Saft Group

Courtesy Total

Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority (Autorité des


Philly Shipyard to Pay Dividend

Photo Philly  Shipyard

Philly Shipyard ASA has provided key information relating to the cash dividend to be paid by PHLY Dividend amount: USD 3.75 per share Declared currency: USD Last day including right: 12 May 2016 Ex-date: 13 May 2016 Record Date: 18 May 2016


CMA CGM Stake in NOL Edges Past 10%

Pic: Neptune Orient Lines

 French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis.   The European Commission has approved CMA CGM's $3.38 billion acquisition of NOL


Denmark, US to Partner on Offshore Wind

Photo: Denmark.dk

Denmark and the United States have signed a memorandum to strengthen cooperation on offshore wind energy projects, the U.S. Bureau of Ocean Energy Management (BOEM) announced.   On May 4, 2016 at the Embassy of Denmark in Washington, D.C






 
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