Hanjin Sets Sales Target At $3.5B

Tuesday, January 18, 2000
Hanjin Shipping Co. announced its sales target this year is $3.45 billion, against an estimated $3.27 billion for 1999. The company's operating profit was projected to rise to $251 million in 2000 from an estimated $220 million for 1999. To back up the sales plan, the company will add five ships - three container ships of 5,600 teu each and two liquefied natural gas (LNG) carriers - to its fleet this year. The plan will increase the number of the company's container ships to 48 and bulk carriers to 69.
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U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

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Finance

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

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