Evergreen, Yang Ming Downgraded

Thursday, September 21, 2000
U.S. investment bank Salomon Smith Barney downgraded Taiwan's Evergreen Marine Corp. to underperform from neutral and Yang Ming Marine Transport Corp. to underperform from outperform. Salomon, in a September 19 research note seen by Reuters on Thursday, said it was lowering earnings expectations and ratings for Evergreen and Yang Ming. Salomon set a T$16 target price for Evergreen, the world's largest shipping company, and T$10 for Yang Ming, Taiwan's second largest shipping firm. On Thursday, Evergreen shares ended up T$0.3 at T$18.6, Yang Ming shares were up T$0.3 at T$12.4. Salomon said the main weakness for Evergreen, the flagship of the Evergreen Group, lies in its complex organization, while Yang Ming's core earnings are a major concern.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

A Year is a Long Time in Tankers

The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age.    Analysis of the Suezmax fleet shows a similar picture,

Strike In France: Implications for Tanker Demand

After the oil industry suffered from a severe drought in Venezuela, forest fires in Canada and rebel attacks on oil installations in Nigeria, it is now facing

Floating Storage Flattens Fortunes of $50 Crude

The prices of WTI and Brent crude briefly rose above $50/bbl during intraday trading on Thursday, the highest level seen since the end of July 2015, giving traders a brief moment of optimism,

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
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: 0.0728 sec (14 req/sec)