Milaha Ups Stake in Nakilat
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, announced that Milaha was holding…
CMA CGM Reports Higher Volumes and Revenue
French container shipping group CMA CGM third quarter results outperformed the industry, with significant increases in revenue and volume.The global transporting company said in a stock exchange annoucement that its volumes have risen 5.5 percent and revenue is up 6.3 percent compared to the third quarter in 2017. The group's net income was $103.1 million.CMA CGM’s Chief Executive Rodolphe Saade had said he expected a strong third-quarter, helped by brisk China-U.S. shipments, while warning that a full-blown trade war between the world’s two biggest economies could hurt volumes."In a context of sharply rising fuel prices, CMA CGM core EBIT margin recorded a significant increase compared to the second quarter of 2018, at 4.0%.
Fredriksen Ups Osprey Offering
Norway's John Fredriksen raised his offer price for Singapore's Osprey Maritime by 12.5 percent in a move seen likely to result in a management change and possible de-listing of the group. Fredriksen, through his privately held World Shipholding Ltd., lifted his offer from S$1.00 to S$1.125 per share for the 38.85 percent of the tanker group he does not already own. Osprey shares ended up 11 percent at S$1.11 after hitting a high of S$1.16. Volume was thin at 660,000 shares. After the market close, the firm announced that its board member Charles Klotz had resigned effective January 10. It did not give a reason. The higher offer comes after criticism from Osprey management that World's initial offer undervalued the company.
Global 2-Way Introduces Global T-Fleet
Global 2-Way, today announced the signing of an agreement with Terion, Inc. of Melbourne, Fla., to buy the assets of their DHF network. Management Systems (MCAMS) product line, called Global T-Fleet. A combination of patented digital high frequency technologies originally developed as a nationwide backup communication system, and present day GPS technology, using it to form a unique communications network. allows for nationwide two-way text messaging and location on demand through a web-based platform. such as hazard material haulers are, can be of tremendous value and importance to both the transporting company and concerned customers," said Russell Weaver, Marketing Communications Director for Global 2-Way.
