NOL To Split, List American Eagle Tankers

Thursday, May 24, 2001
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 proceeds of the offer to buy additional tankers for an expansion program. NOL said the listing would unlock value for shareholders and support the growth of the group's three core businesses - logistics, container transportation and oil transportation in tankers. The company plans to make a preferential offering, which is conditional on completion of the international offering, of SDRs to NOL shareholders outside of the United States on June 7, 2001. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

Maritime Security

Chemical Tanker Runs Aground off Alaska

A 599-foot Norway flagged chemical tanker Champion Ebony ran aground near Nunivak Island, Alaska on June 24.   U.S. Coast Guard Sector Anchorage watchstanders

HMS Ambush Docks in Gibraltar

Navy nuclear submarine HMS Ambush yesterday steamed to Gibraltar – in a massive show of force against Spain.   The Spanish – emboldened by Britain’s Brexit vote

Indonesia Bans Ships for Philippines

The Indonesian Government has banned vessels flying Indonesias flag from sailing to the Philippines following the latest hostage incident.   According to a report in AP,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair 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: 0.0927 sec (11 req/sec)