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Nomura News

15 Dec 2023

MOL First Shipping Company to Issue 'Blue Bonds'

An examples of potential uses of the bonds’ proceeds include Wind Hunter, the ultimate zero emission ship. Image courtesy MOL

Mitsui O.S.K. Lines, Ltd. has decided to issue “blue bonds” through a public offering in Japan’s domestic market in January 2024, reportedly the world’s first blue bonds in the shipping industry, which refer to the guidance provided by the International Capital Markets Association (ICMA) and other organizations.The Blue Bond Framework developed for the issuance of the bonds will ensure that all uses of the bonds’ proceeds will contribute to a sustainable blue economy, and the bonds received the highest rating of “Blue1(F)” from the Japan Credit Rating Agency, Ltd.

13 Jul 2022

China's Exports Rebound, But Global Risks Darken Trade Outlook

© Aris Suwanmalee / Adobe Stock

China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's second-largest economy in spring when the government rolled out widespread lockdowns.Outbound shipments in June rose 17.9% from a year earlier…

14 Jan 2022

Indonesia to Improve Coal Delivery Checks as Export Ban Weighs on Economy

Credit:  Alex Traveler/AdobeStock

Indonesia's state utility Perusahaan Listrik Negara (PLN) said on Friday that together with the energy ministry it was strengthening a coal delivery monitoring system to ensure enforcement of domestic sales rules and energy security.The world's biggest thermal coal exporter introduced an export ban on Jan. 1 as coal inventories at local power plants were at critically low levels, amid low compliance with a so-called Domestic Market Obligation (DMO).Under the DMO, miners must sell 25% of their output to the local market with a price cap of $70 per tonne for power plants…

01 Feb 2022

Eneti to Raise $200M for WTIV Construction via Share Sale

File image: Huisman

Offshore wind turbine installation firm Eneti plans to raise $200 million through a public offering of shares. It will use the funds raised to fund wind turbine installation vessel newbuilding program consisting of one contracted newbuilding vessel, one optional newbuilding vessel, and one proposed Jones Act compliant newbuilding vessel. As part of the Offering, Scorpio Holdings Limited, a related party of the company, has expressed an interest to purchase common shares at the public offering price with a value of at least $30.0 million.Citigroup…

07 Jun 2021

China's Imports Grow at Fastest Pace in a Decade

© Naypong Studio / Adobe Stock

China's imports grew at their fastest pace in 10 years in May, fueled by surging demand for raw materials, although export growth slowed more than expected amid disruptions caused by COVID-19 cases at the country's major southern ports.While a brisk recovery in developed markets has bolstered demand for Chinese products, a global semiconductor shortage, higher raw material and freight costs, logistics bottlenecks and a strengthening yuan have dimmed the outlook for the world's largest exporting nation.China's exports in dollar terms in May grew 27.9% from a year earlier…

04 Mar 2021

Subsea Miner DeepGreen to Go Public Via $2.9 Billion SPAC Deal

(File photo: DeepGreen)

DeepGreen Metals, an EV battery metals maker, said on Thursday that it will be acquired by blank-check firm Sustainable Opportunities Acquisition Corp in a $2.9 billion deal.The deal will consist of a $330 million private investment from investors along with Allseas, adding to the list of existing strategic investors such as Maersk Supply Service and Glencore.Vancouver-based DeepGreen intends to produce metals from polymettalic rocks, found in deep oceans, for use in batteries…

06 May 2020

China Exports, Imports Set to Plummet

© Alexey Lesik / Adobe Stock

China’s exports and imports are expected to record double-digit declines in April after a tentative recovery in March as the coronavirus pandemic batters global demand and disrupts manufacturing supply chains, a Reuters poll showed on Wednesday.The pessimistic projections reinforce concerns that the collapse in global demand will restrain the recovery in the world’s second-biggest economy as it gets back on its feet after weeks of paralysis due to the virus outbreak.Shipments out of China are likely to have fallen 15.7% in April from a year earlier…

16 Mar 2020

Business Picks up Pace in China, Global Recovery Pace Uncertain

© Mike Mareen/AdobeStock

China's business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country's broader economic resumption.Nomura estimated in a research report on Monday about 61.6% of the firms hardest hit by the health crisis in China have resumed work as of March 8, and 74.1% in the broader economy.China reported on Monday no locally-transmitted cases of infection on the mainland outside of the central province of Hubei…

31 Aug 2017

Korean Shipyards Bag $1.5bln Newbuild Order from MSC

Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - two major shipyards in South Korea -  are poised to sign a deal worth $1.5 billion to build container ships for Mediterranean Shipping Company (MSC), according to the Financial Times. The report said that this deal is the latest signal that the South Korea’s troubled shipbuilding industry is showing signs of recovery, after large losses posted by both companies in recent years because of a lack of orders. MSC is working on an order for up to 11 container vessels, the report said. The deals will help local shipyards struggling to win more shipbuilding deals.

23 Mar 2017

CNOOC Reports Worst Result Since At Least 2011

File photo: CNOOC

China's offshore oil and gas producer CNOOC Ltd reported its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17 percent last year, but it expects to raise output 2017 as oil prices rebound. CNOOC reported a net profit of 637 million yuan ($92.5 million) in 2016, down nearly 97 percent from 20.2 billion yuan in profit in 2015. Total revenue from oil and gas fell to 121 billion yuan from 147 billion yuan in 2015. "CNOOC managed to eke out a tiny profit thanks to cost efficiencies and the oil price rebound during 4Q…

17 Mar 2016

China Merchants Offers to Buy Baltic Exchange

China Merchants Group has made an informal bid for London’s Baltic Exchange, says a report in Reuters. The State-run conglomerate has made an informal offer through a subsidiary, China Merchants Securities. An acquisition of the Baltic, which was founded in 1744, would give the Chinese conglomerate ownership of the industry's benchmark indices - which could be further commercialized - and greater access to the multi-billion dollar freight derivatives market. It emerged in February that the Baltic Exchange, a financial maritime hub located in the heart of the City of London, was being eyed by several companies, including the Singapore Exchange, CME Group, Intercontinental Exchange (ICE), and Platts. Japanese investment bank Nomura is advising the Baltic Exchange on a potential sale.

26 Feb 2016

Baltic Exchange Mulls Sale

Baltic says holding discussions with several parties. The Baltic Exchange confirmed on Friday it had received a number of "exploratory approaches" after the Singapore Exchange Ltd revealed it was seeking to buy the business which has been the hub of the global shipping market for centuries. Reuters exclusively reported on Thursday that the Baltic Exchange had held talks with SGX and other potential buyers, months after sources had said the London Metals Exchange (LME) made an approach to buy it. "The Baltic Exchange confirms that it has received a number of exploratory approaches and that it is now in confidential discussions with selected third parties regarding its future strategy and ownership," it said in a statement.

30 Nov 2015

Opportunities for Growth as Chinese Economy Evolves

China invested more than $89 billion in renewable energy projects in 2014 – a growth of 31% on the previous year. Beijing is aiming to generate 200 gigawatts (GW) of electricity from wind and 100 GW of solar by 2020.

The global breakbulk and heavy-lift markets have had to navigate choppy waters in recent years. Not necessarily due to a shortage of freight, but as a consequence of unsustainably low freight rates. The global economic recovery since 2009 has been slow, and competition for the multipurpose sector has intensified due to bulkers, container lines and RoRo’s making forays into the breakbulk and heavylift market, as they look to diversify their business and make up for the lack of demand in their respective core markets.

24 Jan 2015

Oil Majors to Preserve Dividends Despite Oil Collapse

Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares. Having sold around $120 billion in assets in recent years to boost balance sheets and keep up dividend payouts, companies are expected to increase borrowing and further cut costs as they come to terms with oil prices that have more than halved since June to around $50 a barrel. "Lower oil prices pose the biggest threat to oil and gas industry earnings and financial solidity since the financial crash of 2008," consultancy Wood Mackenzie said in a note.

30 Jul 2014

Rio Tinto Pulls Plug on Mozambique Coal Venture

Photo courtesy of Rio Tinto

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector. The sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited (ICVL), includes the Benga coal mine and other projects in Tete province, assets that had a value of $71 million as of March 31 in Rio's books. In 2013, Rio Tinto sacked its chief executive…

18 Apr 2013

Intelsat Commences Proposed IPO

Intelsat S.A. (formerly known as Intelsat Global Holdings S.A.) announced the pricing of its initial public offering of 19,323,672 common shares at a price of $18.00 per share and concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the “Series A preferred shares”) at a price of $50.00 per share. On the mandatory conversion date, May 1, 2016, each Series A preferred share, unless previously converted, will automatically convert into common shares. The Series A preferred shares will have a 5.75% dividend rate and a liquidation preference of $50.00 per share. The Company has granted the underwriters in the initial public offering of common shares a 30-day option to purchase up to an additional 2,898,550 common shares.

02 Apr 2013

Intelsat Proposes Public Offering of Common Shares

Intelsat Global Holdings S.A. announced that it has commenced the distribution of preliminary prospectuses in anticipation of its proposed initial public offering of 21,739,130 common shares and proposed concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the "Series A preferred shares"). The offerings are being made pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission. The company has granted the underwriters in the initial public offering of common shares a 30-day option to purchase up to an additional 3,260,869 common shares. The company has granted the underwriters in the public offering of Series A preferred shares a 30-day option to purchase up to an additional 450…

26 Nov 2012

Philippines Positioned as Ship Repair Hub

The Philippines is ideally positioned in the Asia-Pacific region to repair ocean-going & fishing vessels according to a Japanese study. The report was contained in a study on the ship building and ship repair industry of the Philippines conducted by the Japan International Cooperation Agency and the Nomura Research Institute as part of the ongoing formulation of industry roadmaps by the [Philippine] Department of Trade and Industry reports the Manila Bulletin. Based on the study, the Philippines has the right ingredients to become a ship repair hub with strengths that include an inland sea, bay and deep seashore, abundant labor and legalized fiscal incentives.

22 Dec 2009

MOL Completes Settlement, 13th Unsecured Bonds

Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company determined the terms and conditions for the issuance of its 13th series of unsecured bonds (with inter-bond pari passu clause) on December 11, 2009, and completed the issuance and payment on December 17. When raising funds to bolster business activities, MOL has been focusing on stability of fund procurement and cost competitiveness. Additionally, considering unpredictable financial market conditions since the “Lehman Shock” in 2008, the company has carried forward diversification of procurement methods and lengthening and diversification of procurement period. Based on this policy…

11 Feb 2003

CG, NOAA Fisheries Intercept Vessel

A Coast Guard H-60 helicopter sighted a trawler allegedly fishing for groundfish in the Rockfish Conservation Area on February 6. A National Oceanographic Atmospheric Agency Fisheries Special Agent aboard the helicopter spotted the fishing vessel Astoria, Ore.-based Sara Frances using bottom trawl gear in this conservation area. Beginning January 1 of this year, fishing for groundfish in this area with bottom trawl gear is prohibited. The Coast Guard pilot contacted the vessel captain and confirmed its position inside the restricted zone. With this information, NOAA Fisheries special agents met the 67-foot fishing vessel when it returned to Warrenton, Ore. Friday. The agents seized approximately 20,000 lbs. of groundfish from the Sara Frances.

02 May 2000

ABP Shares Surge After Buyout Approach

Shares in Britain's biggest port operator, Associated British Ports Holdings Plc, were nearly 20 percent higher Tuesday after officials reported the company had received a buyout approach that significantly undervalued the company. ABP did not say who made the informal offer, but advised shareholders to take no action. Industry sources said the approach, worth about $1.6 billion, had been made by Nomura International, the London-based investment bank arm of Nomura Securities Co. Ltd., Japan's biggest securities house. Nomura has a reputation for acquiring underperforming businesses, restructuring them and then selling them.