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21 Sep 2020

Scorpio Bulkers Tries Wind in Hunt for Returns

(Image: Scorpio Bulkers)

Scorpio Bulkers, a major ocean transporter for the dry commodities industry, is tapping into increasing demand for renewable energy with an investment in the logistics of offshore wind farms, the group's chief executive said.The Monaco-headquartered company will invest between $265 to $290 million in a vessel that can install offshore wind turbines, Emanuele Lauro, chairman and CEO, told Reuters, part of a strategy to begin to diversify the group away from the transport of dry…

22 Jun 2020

China to Be Self-reliant in IMO-compliant Fuel

© masterskuz55 / Adobe Stock

Chinese refiners have the capacity to produce 18.1 million tonnes of low-sulphur fuel oil (LSFO) this year, which would make the country self-sufficient in the new shipping fuel, an official with state major PetroChina said on Monday.China has been striving to reduce its reliance on bunker fuel imports and is aiming to create its own marine fuel hub to supply northern Asia.About 20 refineries, mostly under state-run Sinopec Corp, PetroChina, CNOOC and Sinochem, installed equipment to produce 0.5% sulfur fuel that meets International Maritime Organization (IMO) rules that came into force at the

19 Jun 2020

'Strong Interest' in China's New Marine Fuel Contract

Illustration by tawatchai1990 - AdobeStock

China's marine fuel futures contract that debuts on Monday on the Shanghai International Energy Exchange (INE) is likely to attract strong interest, despite weakened ship fuel demand amid the coronavirus pandemic, industry participants said. The new low-sulphur fuel oil (LSFO) contract features marine fuel meeting stricter international emissions rules and is the latest commodity futures product - and second oil contract after Shanghai crude - open to foreign investment. With few competitors…

01 Nov 2018

APM Terminals Bahrain IPO Aims to Raise USD 30 mln

Port operator APM Terminals Bahrain plans to raise around BHD12m ($32m) through its planned initial public offering (IPO). This is the first IPO for a transport and logistics company in the Kingdom to list on the Bahrain Bourse. The listing forms part of the contractual agreement made when the port opened in 2009.APM Terminals Bahrain will offer 18 million shares, equivalent to 20 per cent of its issued share capital, at BHD0.66 per share. The net proceeds will be paid to its current shareholders pro-rata based on their shareholding. APM Terminals currently holds 80% of the shares and the remaining 20% of shares are held by YBA Kanoo Holdings of Bahrain…

15 Jun 2018

Tiny Japan Shipping Shares Jump on North Korea Detente Hopes

© Alexey Lesik / Adobe Stock

Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country.Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, even though the Japanese government has been a staunch supporter of "maximum pressure" on North Korea.Shares of Rinko Corp, a marine transportation company…

23 Feb 2018

All Aboard for Hedge Funds as Trade Tide Lifts Shipping

© leeyiutung / Adobe Stock

Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Around 90 percent of traded goods by volume are transported by sea and global shipping sectors, including dry bulk, are on course for a recovery this year after a near-decade long crisis, ratings agency S&P said in a report last week. The IMF has forecast GDP growth at 3.9 percent for 2018 and 2019 versus 3.7 percent last year, which analysts say is boosting sentiment for shipping.

11 Aug 2017

Cochin Shipyard Shares Jump After $225 mln IPO

Shares in India's Cochin Shipyard Ltd rose more than 20 percent on their trading debut on Friday after the state-run company's 14.42 billion rupees ($224.7 million) initial public offering.   The stock was trading at 528.15 rupees by 0432 GMT, 22.25 percent higher than its IPO issue price of 432 rupees. Retail investors were issued shares at a discounted price of 411 rupees.   The shipbuilder, which also repairs ships, had seen strong investor interest in the IPO with the sale last week being subscribed more than 76 times.   Reporting by Swati Bhat and Devidutta Tripathy

12 Oct 2015

Hapag-Lloyd Continues to Prepare for its IPO

Confirming that the company is preparing its initial public offering, Hapag-Lloyd said it “expects total gross proceeds in the equivalent euro amount of US$500 million from the IPO,” says a report in Reuters. Rolf Habben Jansen, Chief Executive of Germany’s biggest container shipper said that: "There will never be a perfect time ... one should not be too dependent on (the market). Some $400 million will be raised from institutional and retail investors, with core owners Kühne Maritime and Compañía Sud Americana de Vapores placing orders of $50 million apiece, the company said earlier in a statement.

29 Sep 2015

Hapag-Lloyd in US$500 mln IPO

German container carrier Hapag-Lloyd is looking to sell shares for a total US$500 million, and will seek listings in Hamburg and Frankfurt before the end of 2015. Hapag-Lloyd has confirmed that it is preparing for a US500 million initial public offering (IPO) this year, with the expectation that it will use some of the proceeds to order ultra large containerships. "This move will give us better access to the capital markets which will enable us to further invest in our business to become more competitive," Reuter quoted Hapag-Lloyd Chief Executive Rolf Habben Jansen as saying. Hapag-Lloyd may be valued at more than 5 billion euros in the IPO.

20 Aug 2015

India to sell 5% stake in Dredging Corp

India will sell 5 per cent of its stake in the country's largest dredging company, Dredging Corporation of India (DCI). The government will sell up to 1.4 million shares of face value of Rs 10 each, representing 5 percent of the total paid up equity share capital of the company, through Offer for Sale, DCI said in a filing to the BSE. This will bring up to Rs 57 crore ($ 9 million) to DCI kitty. "The offer shall take place during trading hours on a separate window of the Stock Exchanges and shall commence on August 21, 2015 at 9:15 am and shall close on the same date at 3:30 pm. A minimum of 10 per cent of the size of the offer shall be reserved for retail investors subject to the receipt of valid bids.

12 Dec 2014

Strong Interest in Keppel DC REIT IPO

Keppel DC REIT Management Pte. Ltd., a wholly-owned subsidiary of Keppel Telecommunications & Transportation Ltd has received overwhelming demand from institutional and retail investors for its initial public offering of 261,138,000 Units. The Offering comprised an international placement of 207,375,000 Units1 to investors, including institutional and other investors in Singapore (the "Placement Tranche"), and an offering of 53,763,000 Units to the public in Singapore (the "Public Offer"). Due to strong demand from institutional investors during the book-building process, the Units were priced at the top end of the offering price range at S$0.93 per Unit.

26 Jun 2014

Institutional Part in Fincantieri IPO Still Not Fully Covered

Fincantieri's Ancona yard (Photo courtesy of Fincantieri)

The part reserved to institutional investors in the initial public offering of Italian shipbuilder Fincantieri was still not fully covered as of Wednesday evening, two sources close to the matter said on Thursday. The company is likely to increase the percentage of shares it has reserved for retail investors which have shown big interest in the IPO so far, the sources added. "There's been very good demand from retail investors... so the part reserved to retail could be increased," one of the sources told Reuters.

11 May 2014

Omani Power Firms Set To Double Profits After Share Offer

Oman's Al Batinah Power Co and Al Suwadi Power Co, which launched twin initial public share offers on Sunday and are owned by the same consortium, will double their profits from 2014 to 2018 as they pay off start-up costs, a top executive said. The firms, whose owners aim to raise a combined 62.7 million rials ($163 million) through the sale of 35 percent of each company, together provide just over a quarter of the electricity for Oman's main power grid - around the capital, Muscat. The companies were required to go public and list on the sultanate's bourse under the terms of their licences, having launched operations in April 2013.

27 Feb 2014

French LNG Tankship Linings Maker Sets IPO Price

Image courtesy of GTT

Reuters –  Gaz Transport & Technigaz (GTT), a subsidiary of GDF Suez, Total and private equity fund Hellman & Friedman, said in a statement it had priced its IPO at 46 euros per share, valuing GTT at approximately 1.7 billion euros. Earlier this month, GTT - the world's No. 1 maker of insulated hull linings for tankers that carry liquefied natural gas (LNG) - proposed an indicative price range of 41 to 50 euros per share that would have valued the company at between 1.52 billion and 1.86 billion euros, taking into account an overallotment option of 15 percent of shares offered.

30 Apr 2008

Seoul Stocks Close Lower as Shipbuilders Fall

Foreigners bought a net 58 billion won worth of shares listed on the main board, and local institutions sold a net 135b. Local retail investors bought a net 69 billion won, Reuters reported. Decliners outnumbered advancers by 455 to 318, with 82 titles ending unchanged.  Trade volume stood at 268 million shares worth 5 trillion won, compared with 366 million shares worth 6.3 trillion won on Monday. Source:  Reuters

09 Oct 2007

Bureau Veritas Launches Initial Public Offering

Bureau Veritas, the world’s second largest group offering conformity assessment services in the areas of quality, health and safety, environment and social responsibility (QHSE) announces the launch of its initial public offering on Eurolist by EuronextTM Paris (Compartment A). The main objective of the initial public offering is to support the growth strategy of Bureau Veritas. The shares will be distributed in the framework of an offer (the "Global Offer") comprising of a public offering to retail investors in France (the "French Public Offering") and an international offering to institutional investors in France and in certain countries, including in the United States under Rule 144A (the "International Offering").