Cosco Singapore Higher on New Shipbuilding Orders

Friday, October 26, 2007
Shares of Cosco Corp. Singapore, a shipping company that owns a shipyard in China, rebounded after announcing it secured an order to build 29 bulk carriers worth $1.34b. The news has provided the stock a much needed shot in the arm as investors have been selling the stock in the last two days on concerns its shareholder, shipyard operator SembCorp Marine Ltd., may sell more shares in the company. SembCorp Marine said it had sold 39 million Cosco shares, taking its holding to 111.4 million shares. The latest orders put Cosco's current order book at $6.4b, $6.2b of which were secured this year, according to Kim Eng Securities. The brokerage believes Cosco could secure another $900m in orders based on existing options with customers. Following the new orders, DBS said it has raised its 2008 net profit forecast by 10 percent to $499.8m and its 2009 net profit forecast by 10 percent to $725.1m. For 2007, DBS expects Cosco to achieve a net profit of $296.2m, compared with $205.5m in 2006. [Source: Thomson Financial]
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Repair 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: 0.0797 sec (13 req/sec)