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

Navy

New Defense Cooperation with India

Today, on his historic visit to India, President Obama and Prime Minister Modi announced new, ground-breaking agreements on defense cooperation between India

India-US “New Vision” for Asia Pacific and Indian Ocean

India and the USA on Sunday released a Joint Strategic Vision statement for the Asia-Pacific and Indian Ocean region, marking the deepening strategic equation between the two nations.

USS Cole Conducts Change of Command

The Arleigh Burke-class guided-missile destroyer USS Cole (DDG 67) conducted a change of command ceremony during a scheduled port visit in Piraeus, Greece, Jan.

Finance

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Sonar Winch
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: 0.2212 sec (5 req/sec)