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Stock Split

Jurong Shares Firm Amid Stock-Split Rumors

Shares of Jurong Shipyard Ltd. firmed by more than six percent in early Friday trading on rumors that the shipyard might announce a stock-split exercise to improve its liquidity, dealers and analysts said. Fueling the market's excitement over Jurong was SembCorp's impending news conference, possibly next week, where Jurong was expected to announce further merger details and restructuring of its shipyard operations. SembCorp, with a yard capacity of 1.8 million dwt, is the owner of Asia's largest shipyard outside Dubai.


Bourbon Holds Annual and Special Shareholders' Meeting

The Bourbon Annual and Special Shareholders' Meeting was held under the chairmanship of Jacques de Chateauvieux at the Palais Brongniart in Paris. The following resolutions were passed at the Meeting: - Distribution of a dividend of 1 euro per share This dividend, which represents a 78% increase compared to 2004, will be paid as from Monday, May 29, 2006. It gives a right to a tax-free allowance of 40%, i.e. 0.40 euros per share, for individuals who are tax


Dryships Sinks Into Loss

DryShips Headquarters Photo Dryships

DryShips Inc. (NASDAQ:DRYS), or DryShips or the Company, an international owner of drybulk carriers and offshore support vessels, today announced its unaudited financial and operating results for the quarter ended December 31, 2015. Fourth Quarter 2015 Financial Highlights  * For the fourth quarter of 2015, the Company reported a net loss of $527.6 million, or $0.79 basic and diluted loss per share. Included in the fourth quarter 2015 results are:


Kvaerner Advised To Not Name New Board

Kvaerner ASA had been advised to drop a plan to name a new board due to disagreements among major shareholders and a possible scheme to split the company. Kvaerner said in a statement that a two-man election committee seeking to find board members acceptable to big shareholders "concluded it is not possible to put together a board that all major shareholders can agree upon." It said the committee advised the board and major shareholders against calling a suggested extraordinary shareholders'


DryShips Ups Its Revolver Facility

Courtesy DryShips

DryShips an international owner of drybulk carriers and offshore support vessels, today announced that it has entered into an agreement to increase its secured revolving facility (“Revolver”) provided by an entity controlled by the Company’s Chairman and CEO, Mr. George Economou. The Revolver was amended to increase the maximum available amount by $10 million to $70 million, to give Dryships an option to extend the maturity of the facility by 12 months to October 21


Scorpio Tankers' Latest Fleet & Financial News

A Scorpio vessel: Photo courtesy of the owners

Scorpio Tankers says it has taken delivery of a new MR tankship, has authorized stock buyback, and declares a quarterly dividend. Details as follows: After delivery, the new tankship vessel began a one year time charter at a rate level consistent with current one year time charter contracts, which includes a profit sharing mechanism whereby earnings in excess of the base time charter rate will be split between the Company and charterer. Stock Buyback Authorization


Scorpio Tankers Update on Finance, Vessel Deliveries

Image courtesy of Scorpio Tankers

Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc. says it has entered into an agreement to purchase from an existing shareholder 7,500,000 common shares of the Company in exchange for the sale to the same shareholder of 3,422,665 common shares it currently owns in Dorian LPG Ltd  in a privately negotiated transaction.


Aker Solutions to Divide Company in Two

Aker OCV: Image courtesy of Aker Solutions

Aker Solutions release Q1 2014 financial results and separately inform they will split into two companies to speed up a streamlining process that will reduce costs and better position all parts of the group to meet the needs of customers in an increasingly competitive global energy industry. Financial Highlights Sales rose to NOK 11.2 billion in the first quarter of 2014 from NOK 10.3 billion in the first quarter of 2013.


NOL To Split, List American Eagle Tankers

Neptune Orient Lines, the world's sixth largest container shipper, plans to spin off and list its oil-transportation unit, American Eagles Tankers (AET), on the New York Stock Exchange. The Singapore-based company said it plans to offer common shares to be listed on the NYSE and Singapore Depositary Receipts (SDRs) on the Singapore Exchange to investors internationally as well as in the city-state. The offering is expected to be made in the second or third quarter and AET would use net


Molasses Ship Splits, Sinks

A ship carrying molasses from India to Amsterdam split in two and sank in high seas off Spain's northwest coast, drowning three crew members and leaving eight missing. Air and sea rescue teams plucked 24 survivors from lifeboats after they abandoned the Maltese-registered Kristal, which broke apart about 110 km (70 miles) off Galicia, a Spanish coastguard spokesman said. "The search for the missing people is under way with helicopters and boats," he said


Damen Presents Decommissioning Vessels Concept

Damen Decommissioning Courtesy Damen

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas decommissioning sector: topside decommissioning offshore platform removal, and subsea cleaning and removal


Dark Cloud of Offshore Storage Looms

Glencore books the STI Grace tanker to store fuel at sea-traders. This has not been the summer many oil traders had expected after last year's bumper profits. Banking on more of the same, the world's refineries have churned out more diesel


Fratelli Neri S.p.A. Orders Three Damen Vessels

L to R:  Dott. Corrado Neri, Director Fratelli Neri Group and Managing Director Labromare Livorno; Andrea Trevisan, Damen Sales Manager; Dott. Piero Neri, President Fratelli Neri Group; Dott. Corrado Neri, Director Fratelli Neri Group and Mr. Riccardo Sala, Broker Branchero Costa on the occasion of the contract signing for the three vessels. (Photo: Damen Shipyards)

Fratelli Neri S.p.A., the family-owned, Livorno-based harbor towage company, has ordered three new Damen vessels; an ASD Tug 2913, a Stan Tug 1606 and a Stan Launch 1305, the last for its subsidiary company Labromare, which is 50% owned by Tripmare S.p.A.  


PALFINGER Makes Takeover Bid for TTS

The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published this morning by the Oslo Stock Exchange following a detailed review. PALFINGER aims to acquire 100 percent of the TTS shares


Two Damen Stan Pontoons for Silverburn

Stan Pontoon 8916 ICE Classed vessels Photo Damen

Silverburn Shipping Group has taken delivery of two Stan Pontoon 8916 ICE vessels. Capable of taking on diverse heavy transport duties, these ice-classed vessels are robust enough to operate in all seasons.Built for stock, the pontoons left Rotterdam earlier this week on the client’s own


Maersk 'BBB+' Ratings Put On CreditWatch Negative

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  • A.P. Moller – Maersk A/S (Maersk) recently announced its undertaking of a strategic and structural review of its business set-up. • We understand that the disposal of one or several of Maersk's main business units could form part of the review's outcome


BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down

Oil Product Tanker Earnings

BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016. The oil product tanker market has reached a net fleet growth of 4.3m DWT so far in 2016


Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year, traders said on Monday.   Marsa Maroc was established in 2006 and manages terminals at nine


World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money poured into safe-haven gold and government bonds. Sterling suffered a record plunge.  


OSG Joins NYSE "Big Board"

Overseas Shipholding Group leading provider of global energy transportation services, delivering crude oil, petroleum products and liquefied natural gas throughout the world.Courtesy OSG

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer its stock listing to the NYSE from the NYSE MKT


Maersk Chairman: Company Could Be Split Up

Michael Pram Rasmussen (Photo: A. P. Moller-Maersk)

A. P. Moller-Maersk's chairman says that the Danish shipping and oil conglomerate could be split up in several companies, after it on Thursday appointed the head of its container business as new chief executive.   "The question is whether we should be a large group


Star Bulk Sets Terms on Reverse Stock Split

Pics: Star Bulk Carriers Corp

 Athens-based Star Bulk Carriers Corp has determined to effect a 1-for-5 reverse stock split of the Company's common shares.    The Company's shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio and proceed with the


Diana Containerships: Split Ratio for Reverse Stock Split

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that its Board of Directors has determined the split ratio for the previously announced reverse stock split of the company’s common shares, par value $0


Safe Bulkers Regains Compliance with NYSE

Safe Bulkers Logo

Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it was notified by the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE’s minimum share


Safe Bulkers Reports Q1 Loss

Photo: Safe Bulkers Inc.

 The Athens, Greece-based  Safe Bulkers Inc. (SB) on Thursday reported a loss of $17.8 million in its first quarter. The shipping company posted revenue of $24.7 million in the period.    It has a loss of 25 cents per share






 
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