HSBC Recommends Exel

Thursday, February 15, 2001
HSBC upgraded its recommendation on British logistics group Exel Plc to "add" from "hold" with a target price of 1,028 pence. "With uncertainty over the global GDP growth outlook, our add recommendation comes with a cautious view that sentiment in the stock is expected to remain weak," HSBC said in a research note.

Contracts

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

New Crane Orders for Huisman

Huisman has secured new crane contracts with a total value of around 300 million Euro from various major offshore, shipping and wind farm installation contractors: •

Finance

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

Cosco Eyes Spanish port of Algeciras

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate,

 
 
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