Lehman Bros.: General Maritime Is A Strong Buy

Monday, July 09, 2001
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25.

"We expect charter hire rates to remain firm and recover through the remainder of the year as oil production volumes from Iraq and OPEC increase requiring transportation service," said a research note.

Iraq, which in June cut oil exports to protest the U.N. administered oil-for-food program put into place after the invasion of Kuwait in 1990, hopes to sign a deal this week and return its oil to the market, according to its U.N. envoy.

Shares of General Maritime closed at $13.05 on Friday, just off its 52-week low of $12.20 and below its high of $18.


Finance

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA,

SUNY Maritime Among 'Best Bang for the Buck' Colleges

SUNY Maritime College has been named one of the best colleges for its price by Washington Monthly.   SUNY Maritime placed in the top 30 schools in the Northeast.

Environmental

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0797 sec (13 req/sec)