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Ubs Ag News

26 Nov 2014

Melbourne Box Pot Lining Up Bidders

Three of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion ($4.27 billion) for Victoria state, a source with knowledge of the process said on Wednesday. The prospect of three bidders suggests Victoria, Australia's second most populous state, will reap a hefty price for the asset and encourage other Australian states looking to sell a combined A$130 billion of assets in the next 18 months. Pension fund IFM Investors has hired investment banks JPMorgan Chase & Co and Barclays Capital to prepare a bid for Port of Melbourne, while a consortium of Hastings Funds Management Ltd and Kuwait sovereign fund Wren House Infrastructure Management have hired UBS AG, the source said.

19 Feb 2014

The FLNG Market is Poised for Growth

Amanda Tay

There are many different views on the future of energy supplies, but strong agreement in two areas; over the next 25 years or so population growth and GDP growth in the developing economies, particularly China and India, will drive global energy demand to increase by some 50% and second; while oil’s share of the energy mix will decline, the largest growth will be in consumption of natural gas. Why? Natural gas is an outstanding fuel for power generation, gas-fired power plant has the lowest Capex…

09 Jan 2014

OW Bunker Signs $700M Revolving Credit Facility

OW Bunker, a reseller and physical distributor of marine fuel, has signed a $700 million revolving credit facility, refinancing its current $450 million facility. The new facility consisting of two tranches, a 364-day and a three-year multicurrency revolving credit facility, was more than 100% oversubscribed by the in total 13 international banks and financial institutions in a syndicate led by ING Bank N.V. OW Bunker sees the over-subscription and the up to three-year commitment as a strong sign of confidence in its business model, including a strong balance sheet consisting primarily of relatively liquid current assets, with 70-75% of accounts receivables typically insured, and a liquid inventory of fuel and gas oil.

29 Jan 2008

Hyundai Heavy Leads Shipyard Decline on Prices

Hyundai Heavy Industries Co., led a decline in South Korean shipyard stocks in Seoul trading on concern prices for new vessels may drop. Hyundai Heavy fell 5.8 percent, the biggest decline in more than a week, to close at 319,500 won in Seoul. Hyundai Mipo Dockyard Co., a unit of Hyundai Heavy, fell 7.1 percent to 201,500 won. The shares also dropped after UBS AG said orders may slow this year from the record sales in 2007. The price for second-hand bulk carriers was as much as 61 percent more than for new vessels last year because of increased demand for iron ore and coal from China and India. Shipyards in South Korea, the world's biggest shipbuilding nation, increased their order backlog last year, even with ship prices at records.