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

Legal

Ship as Lifeboat Concept Disputed by ICV

A recent meeting at the National Transportation Safety Board in Washington, D.C. (attended by International Cruise Victims (ICV) Board representatives) discussed

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

China's Seizure of Japanese Ship has Pre-WWII Roots

It all began with a pre-World War II contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1058 sec (9 req/sec)