MISC Proposes $973m Deal for Ramunia

Monday, January 21, 2008
MISChas proposed a $973m deal to merge its shipbuilding business with Ramunia Holdings, an oil services company. The merger would expand MISC’s plans to create a regional business building oil rigs to compete against neighbouring Singapore, which is the world’s largest producer of offshore energy platforms. The deal would be a reverse takeover that could allow MISC to list its Malaysia Marine and Heavy Engineering unit under the Ramunia name in hopes of copying the success of Keppel Corp and SembCorp Industries, Singapore’s biggest oil rig builders, which saw a sharp rise in their shares last year due to higher oil prices.

However, the share prices of the Singapore state-owned groups have fallen by around 25 per cent from a peak in October due to worries that a global economic slowdown could lead to lower oil prices and cuts in orders for oil rigs. Under the proposal, MISC would sell Malaysia Marine to Ramunia in return for taking a large stake in the oil rig builder. Source: The Financial Times

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

Navy

Taiwan Eyes Budget for New Submarines

Taiwan’s defense ministry seeks financing to expand the country’s submarine fleet, reports Reuters quoting local media reports.   The government has allocated $92.

Chinese Ships Spotted off Alaska

Five Chinese Navy ships are sailing in international waters in the Bering Sea off Alaska coast, coinciding with President Barack Obama’s visit to the the U.S. state.

USN's Fourth MUOS Satellite Launched

After a two-day delay due to tropical storm conditions, the Navy's fourth Mobile User Objective System (MUOS) satellite launched at 6:18 a.m. EDT from Space Launch Complex 41.

Finance

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

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

New Energy-saving Windshield on MOL MARVEL

Mitsui O.S.K. Lines, Ltd. today announced that it has started demonstration tests of a new windshield for containerships, which has the potential to reduce wind resistance,

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair 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: 0.6489 sec (2 req/sec)