ROC Propose to Acquire All ROC Shares
The ROC Board announced today that it has entered into a Bid Implementation Agreement (BIA) under which it is proposed that Fosun International Limited or a subsidiary of it (Fosun) will acquire all of the ROC shares currently on issue for A$0.69 cash per share by way of off-market takeover offers (Fosun Offer). A copy of Fosun’s announcement to the Hong Kong Stock Exchange earlier today is attached. an implied market capitalisation of ~A$474 million.
Ensco plc Reports Loss in 2Q 2014
Ensco plc today reported a loss of $5.07 per diluted share in second quarter 2014 compared to earnings of $1.55 per diluted share in second quarter 2013. The loss…
Pentair plc 2Q 2014 Sales at $1.9 bi, Down 3%
Pentair plc today announced second quarter 2014 sales of $1.9 billion. Sales were down 3 percent compared to sales for the same period last year. Adjusted second…
USCG Rescues 6 During "Round The Rock Alcatraz Challenge"
The Coast Guard received a report of an overturned outrigger canoe with six persons aboard Saturday. A good Samaritan in the area maintained a visual on the boaters…
ACP & New Locks Contractor Set to Complete Canal Expansion
The Panama Canal Authority (ACP) and the consortium Groups Unidos por el Canal (GUPC) signed today the variation incorporating to the original contract the agreement…
GAC Bahrain now FAIMplus Certified
GAC Bahrain has secured the coveted FAIMplus certification for its international moving operations, after completing what is considered the most strenuous quality assessment in the industry. FAIM is an industry-leading standard for the logistics business, developed by FIDI Global Alliance. By assessing the international moving activities of logistics companies, the FIDI-FAIM accreditation provides a globally recognised common standard for service delivery.
ICC calls TFA Setback Disappointing
The International Chamber of Commerce has expressed deep concern that the deadline to implement the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) has been missed.
Altair Expands to South Africa with Office in Stellenbosch
Altair, a US-based engineering company, recently acquired EM Software & Systems - S.A., makers of FEKO® electromagnetic field analysis software. FEKO is now becoming part of Altair’s computer-aided engineering (CAE) suite HyperWorks®. With this move, Altair gains a local presence in South Africa with tremendous depth of industry expertise. Personnel in Stellenbosch will be responsible for all Altair sales and support activities in the region.
Sound Oil's Nervesa Gas Discovery
Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to update investors on its continued progress with the proposed second well addressing the Southern limb of the Nervesa gas discovery, onshore Italy. The 5,000psi single completion wellhead has now been delivered to a local warehouse and is ready for installation. The remaining long lead items have now also been ordered and are scheduled for delivery during September.
Quake Leaves at Least 367 Dead in Southwestern China
A 6.3 magnitude earthquake that struck southwest China on Sunday left at least 367 dead and 1,881 wounded in a remote mountainous area of Yunnan province, and caused some buildings to collapse…
Islamic State Takes Control of Oil Field & Dam in Iraq
Fighters of the Islamic State militia took control Sunday of the largest dam in Iraq, a reservoir of oil and three cities after breaking the biggest defeat the Kurdish…
India's Modi Offers Nepal $1 billion Loan in Regional Diplomacy Push
Indian Prime Minister Narendra Modi offered Nepal $1 billion in concessional loans to help build power plants and roads during a visit on Sunday aimed at shoring up support in a region where China is making inroads. Both India and China are vying for political influence in South Asia, home to more than 1.5 billion people, by offering closer integration with their giant economies. India has long been the dominant force in the region.
President of Nigeria Dismisses Heads of State Oil
Nigerian President Goodluck Jonathan has replaced the top four executives of Nigeria National Petroleum Corporation, according to his office said Saturday, speaking on one of the most powerful institutions in the country and source of 80 percent of state revenues. Joseph Thlama Dawha replaces Andrew Yakubu as CEO of NNPC Group. Reuben Abati, spokesman cabinet Goodluck Jonathan, declined to give further details.
COSCO Corporation (Singapore) announced 2Q 2014 results
Singapore Exchange mainboard-listed COSCO Corporation (Singapore) Limited a leading ship repair & marine engineering and shipping group, today announced its 2nd quarter financial results for the 3 months ended 30 June 2014. Group turnover increased 28.8% to $1.1 billion in Q2 2014 from $890.3 million in Q2 2013 supported by the increase in shipyard revenue. Turnover from shipyard operations increased…
Patrick T. Mulva, VP & Controller, ExxonMobil, Retires
Patrick T. Mulva, vice president and controller of Exxon Mobil Corporation has announced his intention to retire on Sept. 1, 2014, after more than 38 years of service. Mulva, 63, joined Exxon Company U.S.A. in 1976 as a financial analyst at the company’s refinery in Baton Rouge, Louisiana, and went on to hold a variety of financial positions of increasing responsibility in the upstream and downstream operations. After managing short-range planning for the U.S.
Global Entities Convene for Maritime Career Day
The Malta Maritime Careers Day will see the participation of three eminent international entities in its first year of staging. These will be ICOMIA - the International Council of Marine Industry Associations, SNAME - The Society of Naval Architects and Marine Engineers - based in Virginia, U.S. and the IMO International Maritime Law Institute. The objective of the Malta Maritime Careers Day is to bring together professionals…