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Pakhoed Nv News

06 Jul 1999

Dutch Shippers Pakhoed, Van Ommeren To Merge

Pakhoed NV and Koninklijke van Ommeren reportedly plan to merge into a European powerhouse with $3.43 billion in annual sales.

29 Jun 1999

Pakhoed Delays Refinancing of Fleet

Pakhoed NV has reportedly postponed the refinancing of part of its Pakhoed Shipping division fleet.

15 Mar 2001

Vopak Sells Stake In Heavy Transport Group

Dutch-based chemical distribution and storage company Vopak NV said on Thursday it had sold one third of its 30 percent stake in unit Heavy Transport Group NV to unlisted Dutch partner Heerema. The transaction will generate a book profit of about 20 million euros ($18.15 million), which will be included in the 2001 results as an extraordinary gain, Vopak said in a brief statement. Last week, the group said it planned to trim its ownership in the shipping sector. Vopak was formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed NV. - (Reuters)

26 Apr 2001

Vopak To Sell Bitumen Fleet

Dutch-based chemical distribution and storage company Vopak NV said it signed a memorandum of understanding to sell its bitumen fleet to Swedish Tarbit Shipping AB. No financial details of the planned sale were released. Vopak had earlier said the bitumen fleet member Theodora Tanker no longer fitted with its strategy. Earlier this year Vopak sold one-third of its 30 percent stake in unit Heavy Transport Group to unlisted Dutch partner Heerema. Vopak was formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed NV. - (Reuters)

18 Oct 1999

Pakhoed Plans To Issue Financing Preference Shares

Pakhoed NV will reportedly publish a prospectus for the issue of a maximum of four million cumulative financing preference shares. The issue price is approximately $1,545 per 100 financing preference shares series 2. The proceeds of the issue will amount to about $62 million if the maximum number of shares are issued. The proceeds will be used to finance planned investment programs, including possible future acquisitions. The dividend percentage will be determined on Nov. 3 as specified in the prospectus, according to Pakhoed officials.

22 Oct 1999

Container Shippers Seek Rate Hikes

A group of container-shipping companies will reportedly seek rate increases of between 10 and 15 percent next year on cargo traveling to the United States from Asia. The group, the Transpacific Stabilization Agreement, represents 14 container-shipping companies that handle goods ranging from clothes to electronics, toys and home furnishings. Cargo in the trade, of which the group handles more than 70 percent, has been valued at more than $200 billion a year. The rate increases are scheduled to go into effect May 1, 2000. The Oakland, Calif.-based Transpacific Stabilization Agreement represents major shipping lines including A.P. Moller-Maersk Line, Evergreen Marine Corp.

04 Nov 1999

Vopak, Worlds Largest Chem Shipping Company Born

Pakhoed NV and Van Ommeren - after years of toying with the idea of consolidation - have formally become the world's largest chemical shipping, tank storage and logistics group with the launch of Vopak shares on the Amsterdam bourse. The shares started trading at $24.84 (26.05 euros) and closed at a session high of 27 euros, giving the new company a market capitalization of $1.46 billion (1.396 billion euros). With more than 90 terminals, Vopak will hold about 30 percent of the world market in independent tank storage in addition to its market leading position in U.S. chemicals distribution and number two position in the European market, with an estimated overall worldwide market share of about five percent.

05 Nov 1999

Happy Birthday, Vopak: Worlds Largest Chem Shipping Company Born

After years of courting, Pakhoed NV and Van Ommeren formally became the world's largest chemical shipping, tank storage and logistics group last Thursday with the launch of Vopak shares on the Amsterdam bourse. The shares started trading at $24.84 (26.05 euros) and closed at a session high of 27 euros, giving the new company a market capitalization of $1.46 billion (1.396 billion euros). "We don't expect any spectacular movements in the share price" in the short term, said SNS Securities analyst Okko de Jager, who has a "buy" recommendation on the shares. The on-again, off-again merger of the former rivals has created a giant with deep pockets - estimated at one billion euros - and market commanding positions in Europe and the U.S.