Oslo Sees Comeback For Maritime Stocks

Friday, June 09, 2000
The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month.

All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20 percent.

Polar Holding (POL) fell 26 percent in May as District Offshore (DOF) failed in it's attempt to acquire the company. Brøvig Offshore was down 17 percent, while DOF fell 3 percent.

The two cruise operators both experienced a positive share price development in May. Royal Caribbean Cruises (RCL) which has been particularly hammered by the market during the past few months, gained more than 12 percent while NCL Holding (NCL) was up 8 percent.

Tanker stocks dominated the winner's list among shipping companies also in May. Benor Tankers (BET), Bergesen (BEA/BEB) and Frontline (FRO) all rose more than 20 percent. The Fred. Olsen twin companies, Ganger Rolf (GRO) and Bonheur (BON), as well as Jinhui Shipping and Transportation (JIN), also saw their share prices rise considerably during the period.

Nomadic Shipping (NOS) was topping the loser's list for the second consecutive month as the share price plummeted by 39 percent in May. Also Actinor Shipping (ACS), Loki (LOI) and Odfjell (ODF) dropped more than 10 percent.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0983 sec (10 req/sec)