Minoan Shares Bounce Back

Wednesday, October 04, 2000
Minoan Lines shares were recovering on Wednesday after a five-day slide following the sinking of one of its ferries trimmed more than 25 percent from its stock value.

A week after the Express Samina, a ferry operated by Minoan subsidiary Minoan Flying Dolphins, sank with the loss of at least 79 lives; Minoan shares were up 3.32 percent at 2,490 drachmas ($6.41). They closed at 3,300 drachmas ($8.50) before the Express Samina went down.

Brokers said the recent slide of most ferry operator shares now offered investors attractive valuations following the sinking, which together with a government ban on various ferries for safety reasons affected the broader sector.

In five days trading after the accident more than $160 million were wiped off Minoan's market capitalization. It amounted to a more than 26 percent slide until Wednesday morning.

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Caltex Replaces Australian Crew

The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics 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: 0.1160 sec (9 req/sec)