Maritime Stocks Move Up

Thursday, August 24, 2000
The Shipping Index at the Oslo Stock Exchange performed well in the quite summer month of July, rising 2.7 percent, and thus again lifting the maritime sector of shipping, offshore and cruise shares above the levels of year-end 1999. Within the sector, 29 shares rose during the month, while only 12 decreased in market value.

Among the offshore stocks, Nortrans Offshore (NOL) were again strong, as in May, after a 10 percent fall in June. With a rise of 23 percent it ended as the month's winner. Also Havila Supply (HAV) rebounded strongly from a rather poor June performance, while Northern Offshore (NOF) only continued its upward trend.

Also, stocks like Smedvig (SME and SMEB), Ocean Rig (OCR), TGS Nopec Geophysical (TGS), Farstad Shipping (FAR) and Stolt Offshore (SCS) performed well during the period.

Petrolia Drilling (PDR) fell by more than 10 percent during the month, followed by Brøvig (BRO) and Fred. Olsen Energy (FOE). Stolt Offshore A (SCSA) were down 4.3 percent in July, while Petroleum Geo-Services (PGS) concludes the list by having dropped 0.7 percent.

Mosvold Shipping (MSL) tops the winners' list among shipping stocks with an impressive rise of 58 percent. I.M. Skaugen (SKA) and Nordic American Tanker (NAT) follow with increases of 15 and 11 percent respectively. Royal Caribbean Cruises (RCL), Odfjell A (ODF) and Frontline (FRO) also experienced solid gains in July. Frontline is currently valued at a market capitalization of NOK 8.7 billion.

Only six shipping stocks were priced down by investors during the period. Western Bulk Shipping (WBS), Odfjell B (ODFB) and Jinhui Shipping (JIN) were among these. Loki (LOI), Nomadic Shipping (NOS) and Team Shipping (TSH) were all unchanged in July.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

ISS Manages Heavy-lift Project at Port of Mombasa

Inchcape Shipping Services (ISS) announced it has completed another complex heavy-lift project in Africa, this time at the Port of Mombasa in Kenya. ISS was

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1436 sec (7 req/sec)