Seoul Shares Rise; STX Shipbuilding Surges

Thursday, October 25, 2007
Seoul shares closed 2.3 percent up earlier this week, their biggest daily percentage gain in three weeks, as STX Shipbuilding surged after buying a stake in a Norwegian ship builder, while Apple's strong results boosted tech stocks, according to a Reuters report. STX Shipbuilding Co (067250.KS) surged by the daily limit of 15 percent to $74.17 after it announced the purchase of a 39.2 percent stake in Norway's Aker Yards (AKY.OL) for $800m, a move analysts said underlined its commitment to fast expansion and would bolster networks in Europe. The benchmark Korea Composite Stock Price Index (KOSPI) (.KS11) gained 2.3 percent to 1,947.98, staging a strong rebound a day after slumping 3.4 percent to its lowest close in more than a month. LG Electronics Inc (066570.KS) soared 8.08 percent to 499.26 and LG.Philips LCD (034220.KS) jumped 4.03 percent to $47.88. [Source: Reuters]

Maritime Today


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

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

Finance

Baltic Index Down on Lower Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.

Commodities Shipping Firms Struggle to Ride Out Worst Downturn

Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Maritime Security

Outdated Systems Placing Vessels at Risk of Cyber-Attack

Maritime vessels are under significant threat of cyber-attack because many are carrying outdated software and were not designed with cyber security in mind, according to new research.

G7 Meeting to Tackle Sea Row in Asia Pacific

Group of Seven (G7) leaders will call for respect for the rule of law and peaceful resolution to conflicts in a joint statement to be issued Friday at the end of their two-day summit,

Japan, Canada Share "Serious Concerns" on South China Sea-PM Abe

Japan and Canada share "serious concerns" over reclamation and militarisation in the South China Sea, Japanese Prime Minister Shinzo Abe said on Tuesday, in an

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority 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: 0.0714 sec (14 req/sec)