Seoul Shares Rise; STX Shipbuilding Surges

Thursday, October 25, 2007
Seoul shares closed 2.3 percent up earlier this week, their biggest daily percentage gain in three weeks, as STX Shipbuilding surged after buying a stake in a Norwegian ship builder, while Apple's strong results boosted tech stocks, according to a Reuters report. STX Shipbuilding Co (067250.KS) surged by the daily limit of 15 percent to $74.17 after it announced the purchase of a 39.2 percent stake in Norway's Aker Yards (AKY.OL) for $800m, a move analysts said underlined its commitment to fast expansion and would bolster networks in Europe. The benchmark Korea Composite Stock Price Index (KOSPI) (.KS11) gained 2.3 percent to 1,947.98, staging a strong rebound a day after slumping 3.4 percent to its lowest close in more than a month. LG Electronics Inc (066570.KS) soared 8.08 percent to 499.26 and LG.Philips LCD (034220.KS) jumped 4.03 percent to $47.88. [Source: Reuters]

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

STX Sells Lorient Shipyard

The shipbuilding group STX France has offloaded its Lorient shipyard to a naval consortium.    The shipyard, which has produced civil and naval vessels, will be purchased by Kership,

DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

Maritime Security

Outdated systems Placing Maritime Vessels at Risk of Cyber-Attack

Maritime vessels are under significant threat of cyber-attack because many are carrying outdated software and were not designed with cyber security in mind, according to new research.

G7 Meeting to Tackle Sea Row in Asia Pacific

Group of Seven (G7) leaders will call for respect for the rule of law and peaceful resolution to conflicts in a joint statement to be issued Friday at the end of their two-day summit,

Japan, Canada Share "Serious Concerns" on South China Sea-PM Abe

Japan and Canada share "serious concerns" over reclamation and militarisation in the South China Sea, Japanese Prime Minister Shinzo Abe said on Tuesday, in an

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators 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: 0.0742 sec (13 req/sec)