China Telecom to Spin off Unit

Monday, February 27, 2006
China Telecommunications Group, the parent of Hong Kong-listed China Telecom Corp, plans to spin off its engineering and telecom services arm for a Hong Kong initial public offering to raise between $200 million and $400 million in the second half this year, The Standard reported. China Telecom Group, which provides fixed-line telecom services in 21 provinces in the southern part of China, may bundle part of its engineering and telecom services business into the proposed listing unit. Those assets will come from five or six wealthier provinces and cities, including Guangdong and Shanghai. The group has picked China International Capital Corp and Goldman Sachs as joint sponsors of the offering, adding that the restructuring proposal is not complete, so the fund- raising target may be revised later. Also, China Telecom Group is very keen on the listing of another unit in Hong Kong, and hopes it will be completed by the end of this year. (Source: The Standard)

Cruise Ship Trends

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.

Pods Versus Water Lubricated Props

Thordon Bearings has called on the marine industry to investigate the characteristics of both conventional seawater-lubricated propeller shaft systems and podded

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0875 sec (11 req/sec)