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.

Tanker Trends

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Navy Discovers Malaysian Tanker

Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.

Finance

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

How Rapid is the Fleet Growth?

During July 2016, the containership fleet reached a landmark 20 million TEU in terms of aggregate capacity, says Clarksons Research.   To many it only seems

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.0837 sec (12 req/sec)