Marine link
 

Shares Surge

Finnlines Shares Surge

Shares in Finnlines surged last week, with analysts crediting the rise to growing European economic activity and Finnlines' recent deal to buy a stake in shipping group Transfennica. "One reason for the rise could be that it (the share) has fallen quite significantly and has stayed almost unchanged after other cyclicals started to recover," said analyst Ritva Ojala at Conventum. The initial push for the share could have come from Finnlines acquisition of 17% of shipping company Transfennica and agreement with papermaker Stora-Enso to transport its products.


Frontline Shares Surge

Shares in Norwegian tanker group Frontline rose 6.8 percent on Tuesday despite planned oil output cuts by OPEC, buoyed by strong chartering rates and a presentation of the company in New York. Frontline was trading at 157 Norwegian crowns per share, up from 147 crowns at Monday's close. It hit an all-time high of 170 crowns in November after rallying in 2000 from a January low of 36.9 crowns. The Oslo Bourse was up 1.4 percent at 14.00 GMT


Seoul Shares Rise; STX Shipbuilding Surges

Seoul shares closed 2.3 percent up earlier this week, their biggest daily percentage gain in three weeks, as STX Shipbuilding surged after buying a stake in a Norwegian ship builder, while Apple's strong results boosted tech stocks, according to a Reuters report. STX Shipbuilding Co (067250.KS) surged by the daily limit of 15 percent to $74.17 after it announced the purchase of a 39.2 percent stake in Norway's Aker Yards (AKY


NOL Shares Soar On Management Change News

Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10% on optimism over recent management changes, dealers said on Tuesday. Late September, NOL said it had hired more senior executives from Sea-Land Services as senior officals for its container transportation arm, APL. The move were seen as positive and reinforced the shipping group's commitment to grow its European and North American presence. Flemming Jacobs is NOL's new chief executive officer.


IHC Caland Cut

Dutch broker Amstgeld cut is recommendation for Dutch shipbuilding and engineering group IHC Caland to "Underperformer" from "Neutral". Amstgeld said it expected the company to show a "gap" in 2001 profits, as no major floating production and storage unit orders were recorded in the second half of 2000. Although the company will profit from a renewed surge in the oil and gas sector, shares will be hit by the disappointing 2001 situation, Amstgeld said in a note to investors. – (Reuters)


NOL Management Changes Causes Shares Rally

Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10 percent last Tuesday on optimism over recent management changes, dealers said. "We are buying on the back of increasing confidence in the market, higher assurance that the Fed will not be doing anything drastic and hope that NOL's new management would bring positive changes," said one dealer. In late September, NOL announced the hiring of more senior executives from Sea-Land Services as senior officials


Share Offer Will Fund Shipping Expansion

China State Shipbuilding Co. said it has completed a private offer of $1.6b worth of new shares to strategic investors to fund expansion. The company sold 400 million new shares to eight investors including its state-owned parent at $3.99 a piece, less than one-eighth of its current share price, according to a filing to the Shanghai Stock Exchange. The share placement was initially announced in January by Hudong Heavy Machinery Co


Containership Bremen Express Named

Hapag-Lloyd is naming the containership Bremen Express in Bremerhaven. The patron of the 335m long mega containership capable of carrying 8,749 standard containers is Hilde Herwig, wife of Thomas W. Herwig, managing partner of the long-established Bremen logistics company Röhlig. With its Bremen Express, Hapag-Lloyd has expanded its fleet to 142 containerships with a total capacity of over 514,000 TEU. It has ordered another 15 identical vessels from the South Korean Hyundai Heavy


NCL Forecasts Profit Rise, Reiterates Rejection Of Carnival

Norwegian cruise group NCL Holding ASA reiterated opposition to a takeover bid by Carnival Corp. and forecast a surge in pre-tax profits for 2000. Officials said that Carnival, which has offered $880 million for NCL shares, was trying to buy NCL cheap after it suffered a year marred by two accidents with its liners. Officials also said that forecast 1999 profits include extraordinary items of about $20 million after, the Norwegian Sky ran aground in Canada in September and the Norwegian Dream


Port of LA Cargo Volumes Drop 12% in June

The Port of Los Angeles has released its June 2011 cargo volumes. Total volumes decreased 12 percent compared to June 2010. Exports rose 5.5 percent while import volumes declined 10 percent.  For calendar year 2011, total volumes have increased 2.8 percent compared to the same six-month period in 2010. In 2010, the peak shipping season started earlier than normal with the cargo volume surge coming on strong in June (32% over June 2009) and sustaining through July and August


ST Engineering Injects Capital into Leeboy India

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK)


Shuster Receives Champion of Maritime Award

Rep. Bill Shuster is presented with the Champion of Maritime Award from the American Maritime Partnership.   L to R: Ben Billings, President, Offshore Marine Service Association; Stephen Martinko, Executive Director at Port of Pittsburgh Commission; Dave Grzebinski, President and CEO, Kirby Corporation; Thomas Allegretti, AMP Chairman and President and CEO American Waterways Operators; Rep. Bill Shuster; Barry Holliday, Executive Director for the Dredging Contractors of America; Matthew Paxton,

Congressman honored for support of domestic maritime industry.   Rep. Bill Shuster (R-Pa.) this week received the 2014 Champion of Maritime Award from the American Maritime Partnership (AMP), the voice of the domestic maritime industry


Port of Long Beach Sees Cargo Numbers Slip

Fall in container shipments

  Container cargo shipments declined by 9.1 percent in August at the Port of Long Beach, reflecting both early shipping by importers this year and the comparison to an August last year that was the Port’s busiest month since 2007.


Leaky Equipment, Not Fracking, Behind Tainted US Water -Study

The contamination of water supplies near U.S. shale gas fields appears to be the result of leaky cement wells and casings and not the controversial production technique of hydraulic fracturing, according to a study released on Monday. So-called "fracking" is a way of extracting


BP Announces 2Q 2014 Interim Dividend

Logo Image

  On 29 July 2014, the Directors of BP p.l.c. announced that the interim dividend for the second quarter 2014 would be US$0.0975 per ordinary share (US$0.585 per ADS). This interim dividend is to be paid on 19 September 2014 to shareholders on the share register on 8 August 2014.


Increased Drug Trafficking in Indian Ocean Needs Action

Heroin from Afghanistan is increasingly trafficked through the Indian Ocean and more international action is needed to prosecute smugglers on the high seas, the United Nations anti-crime and drug body said on Tuesday. In the last 18 months, more than 4


BP 'Grossly Negligent' in 2010 US Spill, Fines Could Be $18b

Discoverer Inspiration arrives to install the capping stack in July 2010 (Photo: BP)

A U.S. judge has decided that BP Plc was "grossly negligent" and "reckless" in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U


BP Shares Hit by US Ruling on 2010 Oil Spill

Shares in BP fell sharply on Thursday after a judge in the United States said the oil major had been negligent in events leading up to the 2010 oil spill in the Gulf of Mexico. BP shares were down by 4.4 percent at 462.45 pence by 1435 GMT. BP declined to comment on the report.


Petroleum Geo-Services ASA : Mandatory Trade Notification

Logo

  Rune Olav Pedersen is awarded 25 000 Performance based Restricted Stock Units as a result of his promotion to General Counsel and SVP Communications and Marketing of PGS, with effect from September 1, 2014.   Following the award


NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

...

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council. The board backed the offer from Christchurch City Holdings Ltd, which controls 95


Rolls-Royce Holdings' Voting Rights and Capital

  In accordance with DTR 5.6.1 of the FCA's Disclosure and Transparency Rules (DTR), the Company is required to notify the market of its total number of voting rights and capital as at the end of each calendar month.   The issued share capital of the Company is comprised of the


Long Beach Cargo Operations Resume

Photo courtesy of the Port of Long Beach

Repair work begins after storm surges subsides The Port of Long Beach resumed full cargo-handling operations Thursday, Aug. 28, after a lessening of storm surges from Hurricane Marie that had battered south-facing piers and interrupted the loading and unloading of four vessels a day earlier.


US Rail Jams Force Rush to Roads and Rivers

Photo: Susannah Skiver

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low by the widespread bottlenecks on rail networks. The shift in how coal is being delivered to some power plants from mining regions


Restoring the NY-NJ Harbor Estuary

A New York District U.S. Army Corps of Engineers crew places mollusk shells into waters off Governors Island in New York Harbor October 6, 2010, creating an artificial oyster reef. The effort was part of an experiment examining the possibility of re-creating a healthy oyster population in New York and New Jersey waters. (Photo: Dan Desmet, New York District Public Affairs)

Significant challenges often require a team effort. Restoring the New York-New Jersey Harbor Estuary is one of them. A group of professionals from the Army Corps of Engineers, New York District, joined 200+ scientists, engineers, academics and restoration professionals on June 3


Storm Surge Halts Vessel Operations at Long Beach

Photo courtesy of the Port of Long Beach

Two cargo terminals at the Port of Long Beach announced Wednesday, Aug. 27, that they were suspending vessel operations for the day because 10- to 15-foot high wave surges powered by Pacific Hurricane Marie endangered longshore workers. Total Terminals International on Pier T






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright