Hedge Funds Hook Shipping Stocks Grappling for Recovery
Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...
Marine Software Supplies Softwared to Defense Warship Support Agency
U.K. based software house Marine Software Ltd has successfully supplied Marine Planned Maintenance to the U.K. Agency, for a number of their Challenger Class Yachts. In order to meet the Ministry of Defense s specific operational requirements, these Challenger Class Yacht systems will be office based software using Office Planned Maintenance for Windows. Configuring the systems this way will eliminate the need of installing on-board computer systems for those smaller vessels where it is not economically viable to install hardware. issued directly to each vessel, then completion reports would be sent back to the office for updating of the system.
Current Onshore Rig Boom Could Be Halted By Next Year
The boom in U.S. onshore oil and natural gas drilling has yet to peak, bolstering forecasts of continued strong demand for rigs, analysts and executives said this week. But growth in the onshore rig market is likely to slow down next year, and activity in the offshore market is already tailing off, with some companies sending rigs away from the Gulf of Mexico to other countries where profits may be better. "We expect to see 30 to 33 percent growth in the total U.S. rig count this year over 2000," an analyst said. "The problem is, we'll only see 8 percent growth from 2001 to 2002, and then companies will have to add units," the analyst added, noting that the 2001 rig count increased 49 percent from 1999 to 2001.
