Aveva Expects Results to Beat Market Forecasts

Wednesday, November 15, 2006
Reuters reported that Aveva Group Plc said it expected full-year results to beat market expectations after the IT engineer surprised with half year profits that more than doubled on the back of China's buoyant shipbuilding market. Shares in Aveva were up more than 7 percent after it said adjusted pretax profit increased 149 percent to $26.2m) in the six months to Sept 30, with revenues up 58 percent.

Ports

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

Tough Twins: New Fireboats for Port of Long Beach

Canada based naval architect and marine engineering firm Robert Allan Ltd. is a leading designer of high-performance response vessels of many types and in particular,

Portland Auto Exports Drive ConnectOregon Grant

The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund

Finance

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

 
 
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