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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


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'


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.


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


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.


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


Navios Maritime Acquisition Corp. Acquires Two New Builds

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")


Will MMS be Split in Two?

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


Rates Increase Boosts Diana Containerships Q3 Income

Cap Doukato (Photo: Diana Containerships)

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


Europe Stockpiling Low Cost, Surplus LNG

Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out


Samsung Heavy Scraps Samsung Eng Takeover

Gepje Shipyard (Photo: Samsung Heavy Industries)

Samsung Heavy Industries said on Wednesday it has decided to scrap a $2.5 billion stock deal to take over Samsung Engineering, potentially complicating restructuring plans by parent Samsung Group ahead of a looming succession. Shareholders doubting the synergies of the merger had asked the two


Stolt-Nielsen Initiates Shares Buyback Program

Stolt-Nielsen Limited’s board of directors has resolved to initiate a buyback program to purchase up to $50 million worth of its common shares, the company announced today. The buyback program will comprise up to 3,100,000 common shares, representing up to 4


Zargon Oil & Gas Confirms Cash Dividend

Image

Zargon Oil & Gas Ltd. confirms that the monthly cash dividend for the month of November in the amount of Cdn. $0.06 per common share will be paid on December 15, 2014 to shareholders of record on November 30, 2014. Unless otherwise indicated


Hedge Funds' Big Bets on Energy Companies Pummeled

Some of the hedge fund industry's most respected firms made bigger bets on a wide swatch of energy companies during the third quarter only to watch the stocks get pummeled by falling crude oil prices. Robert Citrone's Discovery Capital Management raised its holding in Texas oil driller


Cenovus to Develop Telephone Lake Oil Sands

Telephone Lake oil sands project

  Cenovus Energy Inc , Canada's No.2 independent oil producer, said on Friday it has received regulatory approval for its Telephone Lake oil sands project, a facility that could eventually produce more than 300,000 barrels of oil per day.


Dialog, Petronas Gas to Develop $807m LNG Project

Malaysian energy services firm Dialog Group Bhd said on Friday it would work with Petronas Gas Bhd on a 2.7 billion ringgit ($807 million) project to develop liquefied natural gas (LNG) regasification facilities in the southern state of Johor.


DP World to acquire EZW Logisitics

EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6 billion to major shareholder Dubai World for its EZW logistics infrastructure firm


BP's 3Q Interim Dividend for 2014

BP Logo

  The Directors of BP p.l.c. announced that the interim dividend for the third quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 19 December 2014 to shareholders on the share register on 7 November 2014


Matson To Acquire Horizon's Alaska Operations

The transaction has the value of $0.72 Per Common Share Plus Repayment of Debt; acquisition Accretive to Matson's Earnings and Cash Flow. Separately Horizon to Sell Hawaii Operations to Pasha and Terminate Puerto Rico Operations. A Matson Investor Conference Call has been acheduled for 5:00 PM


Jensen, Vigor to Unveil Factory Trawler Design

Jensen Maritime and Vigor will unveil the design for a new 352-foot catcher processor/factory trawler at the Pacific Marine Expo on Nov. 19. The design is the product of collaboration between Jensen, the design architect, Vigor, the shipbuilder, and three major fishing customers


Boskalis Takes a Stake in Fugro

European stocks inched higher on Monday as acquisition hopes fuelled gains for oil services firms after Dutch group Boskalis took a stake in Fugro. Fugro jumped 44 percent after sector peer Boskalis bought about 15 percent of its shares, which have lost more than half of their value since June


Damen Delivers Tug for Scrabster Harbor

Stan Tug 1606, Highlanders

Scrabster Harbor Trust (UK) has taken delivery of a new harbor tug / workboat, a Damen Stan Tug 1606. The vessel, named Highlanders, will replace itscurrent workboat which was built in 1976. The new tug will undertake pilotage, towing, general harbour and maintenance duties.


Egypt, Greece, Cyprus Pledge More Energy Cooperation

Egypt, Greece, Greek Cyprus pledge to boost cooperation

Egypt, facing its worst power crisis in decades, on Saturday pledged greater energy cooperation with Greece and Cyprus, a diplomatic move that opened up the possibility of progress in talks to import natural gas from Cyprus. Cypriot President Nicos Anastasiades said in Cairo that the three






 
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