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Team Shipping News

24 Aug 2000

Maritime Stocks Move Up

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.

10 Dec 1999

Offshore Shares Are Leading The Way

Offshore shares on the Oslo Stock Exchange continued to rise in November, buoyed by the continuing high oil price and expectations of increased level of activities from oil companies in the year 2000. After a few dismal months, offshore shares regained the positive position they have occupied for most of the year. Other maritime shares fell during November so it was offshore and cruise that carried the Shipping Index to a 1.9 percent rise for the month and the rise of 36.2 percent for the year so far. TGS Nopec Geophysical Company (TGS), a seismic operator with a market cap of about NOK 2 billion, was up 33 percent in November. TGS, one of the most heavily traded shares in Oslo, both within the offshore sector on the exchange and throughout, is up 164 percent so far this year.