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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


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


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.


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


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


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")


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.


Brent Oil Rises as Euro Gains Against Dollar

Brent oil prices rose on Wednesday as the euro strengthened against the dollar following a boost in business morale in the euro zone's top two economies. The euro was up 0.6 percent against the dollar, the currency in which crude oil futures trade. The dollar lost 0


Sino-Global Purchases First Tanker

  Sino-Global executives after the companys Nasdaq listing (photo courtesy of Sino-Global Shipping America)

  Sino-Global Shipping America, which was recently listed on Nasdaq, is becoming a shipowner.   The shipping agency, logistics and ship management services company today announced that it has signed a Letter of Intent to acquire a small oil/chemical tanker from Rong Yao International


Stolt-Nielsen Completes Bond Issues

Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.1 percent. The placement was oversubscribed.   The settlement date for the bonds will be April 8, 2015


GAIL Seeks 7 LNG Cargoes

Image: GAIL (India)

 GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.    According to preferences and vessel sizes, the deliveries will be split between Dabhol


Milaha Reports 32.8% Q4 Net Profit Increase

     Photo courtesy of Milaha

Qatar Navigation (Milaha) Q.S.C. increased fourth quarter net profit 32.8 percent, the company announced today in its 2014 financial results.  It will pay a 55% cash dividend for 2014, a value of 5.5 Qatari Rials ($1.51) per share. The company said it increased its net profit 10% in 2014


Hercules Offshore Shares Fall 33%

  Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.   State-owned oil company Saudi Aramco terminated its contract for one of Hercules Offshore rigs on


Brazil Truck Strike Diminishes

Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a key highway in top soy state Mato Grosso opened. Nationwide, there were 18 roadblocks over rising freight costs by the end of the day


General Dynamics Board Increases Dividend

General Dynamics logo

  The board of directors of General Dynamics today declared a regular quarterly dividend of 69 cents per share on the company's common stock, payable May 8, 2015, to shareholders of record on April 10. The dividend represents an 11.3 percent increase from the previous quarterly dividend of


ABG Shipyard Denies Sale to L&T

Image: ABG Shipyard

 ABG Shipyard Ltd has clarified with reference to the news item appearing in the Media on March10, 2015 titled "L&T in race to buy ABG Shipyard stake".   The Bombay Stock Exchange had sought clarification from ABG Shipyard Ltd with respect to news published in ET Now that


Norchem Buys Odfjell SE B-shares

Photo: Odfjell

Norchem AS in Denmark, in which Laurence Odfjell, Chairman of the Board in Odfjell SE, has a controlling interest, has today acquired 1,121,287 Odfjell B-shares in Odfjell at NOK 18.85 per share, the company reported.   Following this transaction, Norchem AS owns 25,966,492 A-shares and 3


Cadets from "N. Vaptsarov" Take Part in Antiterrorist NATO Exercise

Frigate Daring

  Second permanent naval group of NATO ships patrol / SNMG 2 / in stock ships from the US, Germany, Italy, Canada, Turkey, together with the frigate "Daring" in the composition of the Navy commander captain II rank Georgi Savov doctrine held in the Black Sea


YPF Buys Five LNG Cargoes

Argentina's state-controlled YPF has bought at least five cargoes of liquefied natural gas (LNG) for delivery between April and June, traders said on Friday. Suppliers included Shell, EDF Trading, Petrobras, BP and Excelerate, traders said.


Vestas Inks Swedish 122 MW Wind Deal

Danish wind turbine manufacturer Vestas Wind Systems said on Friday it had received a 122 megawatt turbine order for a wind project in Sweden. The order was for 37 units of the V117-3.3 MW turbine for the Sorby Wind Farm project in Ljusdal, Vestas said in a stock exchange announcement.


New Cruise Terminal at Abu Dhabi’s Port

The new cruise terminal at Port Zayed in Abu Dhabi. Courtesy ADPC

 The new cruise terminal at Zayed Port in Abu Dhabi, which will be capable of handling 2,500 passengers and three ships simultaneously, is set to become operational by the end of the year, according to a report in the National.  


VIKING Extends Liferaft Exchange Program to Japan

Photo courtesy of VIKING

Leading marine and fire safety equipment and service provider, VIKING Life-Saving Equipment (VIKING) is stocking ready-packaged liferafts to provide fixed-price liferaft exchange to vessels calling Japanese ports. “The world of shipping is dominated by a small group of countries






 
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