P&O Shares Increase

Monday, January 30, 2006
Dubai Ports World raised its offer for the British port operation Peninsular and oriental steam Navigation Co. to almost $7 billion, beating an offer from Singapore's PSA International Ltd. The offer sent P&O's shares up almost 5 percent on January 27.

P&O and DP World, which is owned by Dubai's government, had agreed to the $6.9 billion cash bid. The offer, which amounts to $9.26 per share, topped a $6.3 billion offer from PSA, a unit of Singapore's government-owned investment company Temasek Holdings Pte. P&O had recommended shareholders accept the Singapore bid before Dubai raised the stakes.

Shares in P&0 were trading just below that level at $9.71 on January 27, up 4.6 percent, in London.

(Source: AP)

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Willard to Supply Patrol Boats for the Philippines

The U.S. Department of State awarded a contract to boatbuilder Willard Marine, Inc., to provide the Philippine National Police Maritime Group with patrol vessels

Comprehensive Winch Outfitting for New Trawlers

Fishing company HB Grandi of Iceland recently awarded Naust Marine a contract for complete winch outfitting of three new 180 ft. fishing trawlers.   The contract,

CMA CGM Launches 18,000 TEU Containership

Container shipping firm CMA CGM Group has taken delivery of its newest colossal containership, the 18,000 TEU, 400-meter-long CMA CGM Bougainville.   Now the

Finance

Former CIA Spy Ship Becomes Victim of Oil Slump

A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices.   Christened the Hughes Glomar Explorer,

Greece Wants EU Funding to Tackle Migrant Influx

Greece will ask the European Union for about 700 million euros to build infrastructure to shelter the hundreds of refugees and migrants arriving on its shores daily, the government said on Thursday.

Asia-Europe Box Rates Soar Again

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Sonar 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: 0.8675 sec (1 req/sec)