Vopak Shares Hit Low

Friday, August 25, 2000
Shares in Dutch shipping and tank storage firm Vopak fell to a two-month low in early trade on Friday on poor earnings, a weak outlook and disappointing merger synergies. By 0734 GMT the stock was off almost nine percent at 22.90 euros, having earlier touched a bottom of 22.70 euros, making it the biggest percentage loser on the Amsterdam bourse. "Vopak said the merger synergies would be postponed, so the merger is not delivering results on the upside. That's a negative sign," said Wouter van Baal, senior account manager at Eureffect.

Vopak, formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed, said it would not achieve the targeted merger synergies of 20 million euros this year, but these would reach 50 million euros by 2002.

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

People & Company News

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1477 sec (7 req/sec)