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
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
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:
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
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
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
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.
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.
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 8.2 million barrels in the last week, compared with analysts' expectations for an increase of 2
Russia plans to reduce its holdings in the state shipping company Sovcomflot in the first half of this year, Economy Minister Maxim Oreshkin told reporters on Tuesday. He said the sale would be split between new and existing shares so the company can raise funds for its own development.
Oilfield services firm Ezra Holdings of Singapore filed for U.S. Chapter 11 bankruptcy at the weekend, blaming a prolonged slump in the energy industry, Reuters reported. Ezra has been facing hostile actions from creditors at home and abroad as it struggles to recover from a
Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with
Teekay Corporation (Teekay or the Company) (NYSE:TK) announced that its Board of Directors has declared a cash dividend on its common stock of $0.055 per share for the quarter ended December 31, 2016. The cash dividend is payable on February 15
Global container shipping company Hapag-Lloyd has launched a euro bond offering with a volume of EURO 150mln ($159mln) and a maturity of five years. Part of the proceeds, initially amounting to USD 50 million converted (approx
A. P. Moller-Maersk's Chief Executive Soren Skou sees a listing of the company's energy unit as the more likely option, he said in an interview with Bloomberg. He said that the company was still working on finding solutions for the energy unit and is looking at all options but that a
TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip. Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies
AdvanTec Global Innovations, parent to the Diamond Sea Glaze (DSG), Steelhead Marine (SME), Pacific Coast Marine (PCM) and Freeman Marine Equipment (FME) brands, has launched a stock door program geared to the commercial marine market.
DHT Holdings, Inc has received a non-binding, highly conditional proposal from Frontline Ltd to acquire all of the outstanding shares of common stock of DHT in a stock-for-stock transaction. Frontline has proposed a ratio of 0
DryShips has announced that it has successfully completed the previously announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0 million, pursuant to the Common Stock Purchase Agreement entered into by the Company on December 23, 2016.
Shares of Tangshan Port Group Co Ltd soared 7 percent on Tuesday, to post their biggest daily percentage gain in nine months, as investors bet the small port would benefit from a major clampdown on coal transportation at its larger rival.
The state-backed ship financing company Korea Shipping is looking to buy up to ten container vessels operated by Hyundai Merchant Marine (HMM), and lease them back to the shipping firm, says a report in Yonhap. “Korea Shipping will provide some 720 billion won (USD 633
The Greenpeace ship My Esperanza has docked at the port of Praia in Cape Verde. For eleven weeks the Esperanza will sail the waters of six West Africa States - Cape Verde, Mauritania, Guinea Bissau, Guinea, Sierra Leone and Senegal to raise awareness on the state of fisheries
Hanjin Shipping, once the country's top shipping line, will be delisted from the domestic bourse today (March 7), ending its eight-year trading history, Yonhap News Agency said citing industry sources. According to the Korea Exchange (KRX) the company will be delisted from the