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.
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
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
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'
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 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.
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
The first political backlash from the recent explosion and sinking of Deepwater Horizon appears to be the Department of Interior’s Minerals Management Service, as it movement is reportedly underway to split the agency that polices the offshore drilling industry, according to articles in the May 12 edition of the Wall Street Journal. The impetus for the split? As currently configured, MMS is responsible both to ensure safety of oil drilling in federal waters
Navios Maritime Acquisition Corporation (NYSE: NNA), an owner and operator of tanker vessels, announced that the company has entered into an agreement to acquire two 75,000 DWT LR1 product tankers scheduled for delivery in Q4 2011 from a South Korean shipyard. The nominal acquisition price of $87m will be financed with: • Issuance of $5.4 million mandatorily convertible preferred stock ("preferred stock")
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.
German wind turbine maker Nordex is mulling paying a dividend for the first time since listing on the stock exchange as part of efforts to create a long-term investor base, its chief financial officer told a German newspaper. "We will think about it but I cannot already today
Zargon Oil & Gas Ltd. confirms that the monthly cash dividend for the month of December in the amount of Cdn. $0.06 per common share will be paid on January 15, 2015 to shareholders of record on December 31, 2014. Unless otherwise indicated
Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange, the Dubai-based company said on Thursday. The assent was granted at a meeting on Thursday
Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior official at EGAS confirmed that there was a tender for multiple LNG cargoes during Egypt's 2015/16 financial year
Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013. Time charter revenues, net of prepaid charter revenue amortization, were $13 million for the third quarter of 2014
Concordia Maritime signed time-charter contract for two P-MAX tankers and launched a pool with four vessels. The time-charter contracts are with Stena Bulk and cover the wholly owned Concordia Maritime tankers Stena Perros and Stena President, for one year each
Simrad Yachting, a leader in the design and manufacture of world-class marine navigation, autopilot, radar, communications and fishfinding systems, announced today its partnership with Maverick Boat Company. Maverick’s Cobia brand of center console
German container shipping group Hapag-Lloyd, which is merging with Chile's Compania SudAmericana de Vapores, is in no rush to list its share on the stock exchange, its chief executive said on Wednesday. "A stock market flotation is currently not top priority for us
Schlumberger Ltd, the world's No.1 oilfield services provider, said it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels as it trims its operations in response to slumping oil prices. The company expects a pretax charge of $200 million in the fourth
Russia hopes to place shares of shipping company Sovkomflot in New York as part of its privatisation plans, a deputy minister of transport told reporters on Friday, a move which could face resistance due to confrontation with the West over Moscow's role in Ukraine.
Turkish Prime Minister Ahmet Davutoglu called on Friday for an agreement over exploiting hydrocarbon deposits in the eastern Mediterranean, an issue that caused the breakdown of peace talks between Greek and Turkish Cypriots in October.
ARENA today congratulated researchers at the University of New South Wales (UNSW) for being the first in the world to convert more than 40% of the sunlight hitting a solar system into electricity. The record efficiency was first achieved in outdoor tests in Sydney
Going from strength to strength, Guardian Maritime Ltd, producers of GUARDIAN anti-piracy barriers, has further expanded its worldwide coverage and distribution by signing a deal with Mares Shipping GmbH, specialists in the supply of spare parts and technical equipment for ships
In the NAT press release of December 1, 2014, we informed the investor market that NAT had acquired further shares in Nordic American Offshore Ltd. (NAO), increasing the ownership from 17.1% to 18.0%. Following the weaker stock market environment in the oil sector
Exporters of Russian wheat have cut prices to try to speed up sales abroad before the government possibly introduces curbs to replenish its own stocks and prevent rises in the cost of bread, traders and analysts said on Friday. Russia's grain exports are running at a record high