Ezion and Swiber local picks for regional portfolio
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02 September 10
The Business Times by Joyce Hooi
EZION Holdings and Swiber Holdings were singled out as 'buys' in DnB Nor's newly launched Asia Alpha Portfolio yesterday at the Asian Investor Conference 2010, along with heavyweights like China Cosco Holdings, Hanjin Shipping and Wan Hai Lines. Tagged with the 'sell' rating, however, were Ezra Holdings, Otto Marine Ltd and Sembcorp Marine. Thoresen Thai Agencies Pcl and Hong Kong-listed Orient ...
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Ezra Holdings in $155m rights issue
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01 September 10
The Strait Times
EZRA Holdings plans to raise at least $155 million from a rights issue.The marine services provider in the offshore oil and gas sector is offering shareholders the right to subscribe to one rights share for every five owned at $1.18 each.Assuming none of Ezra's outstanding convertible bonds is converted into shares, 131.6 million new shares will be issued to raise gross proceeds of about $155.3 ...
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Port operations boost Portek to record FY2010 profit of $12.6m
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25 August 10
The Business Times by Lynn Kan
DESPITE slimmer revenues, Portek fattened its net profits by 46.7 per cent to $12.6 million for the year ended June 30. Revenues for the port operator and engineering group dipped 9.5 per cent to $125.6 million. It managed to improve operating margins due to 'more efficient engineering project execution and overall cost controls in the group'. About 70.6 per cent or $88.6 million of Portek's ...
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Ready to ride any storm to deliver to its customers
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24 August 10
The Business Times by Lee Ying, Benjamin Seow And Melinda Wong
EXPERIENCED - Professional - Safe - Efficient. Such is the motto of the company whose name extends with a global reach into the oil and gas industry. Incorporated in 2000, Consolidated Pipe Carriers (CPC) is a leading provider of offshore solutions, with a focus on pipeline logistics for the oil and gas industry. Headquartered in Singapore since 2004, CPC today also has offices in Brazil and ...
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S'pore, S Korea boost maritime ties with MOU
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24 August 10
The Business Times by Lynn Kan
(SINGAPORE) Maritime relations between Singapore and South Korea were further forged with the signing of a memorandum of understanding (MOU) by the maritime authorities of the two countries yesterday. The Maritime and Port Authority of Singapore (MPA) and Korea's Ministry of Land, Transport and Maritime Affairs (MLTM) agreed to closer collaboration on issues like safety of navigation and marine ...
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As SembMarine, PPLH fight, a Keppel link emerges
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20 August 10
The Business Times by Joyce Hooi
(SINGAPORE) The Keppel Group may have played a role in a string of events that eventually led to the ongoing dispute between Sembcorp Marine (SembMarine) and PPL Holdings (PPLH) over a 15 per cent stake in PPL Shipyard. Court documents filed by SembMarine gave Keppel a surprise mention, in references to a 2003 agreement signed between SembMarine and PPLH. The court battle was sparked off in May ...
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Panalpina opens new logistics facility here
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18 August 10
The Strait Times by Harsha Jethnani
LOGISTICS giant Panalpina yesterday officially opened its new facility that caters to clients in the oil and gas industry.The three-storey centre cost the Swiss company $15 million to set up, and employs 60 people.It contains 1,100 sq m of office space, a 7,000 sq m covered warehouse and 14,000 sq m of open yard - bringing the firm's total warehousing capacity here to more than 30,000 sq m.The ...
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NOL finalises order for two new ships
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17 August 10
The Business Times by Michelle Quah
NEPTUNE Orient Lines (NOL) said yesterday that it has finalised an order for two new 10,700-TEU (twenty foot-equivalent unit) container ships, on a day when it also reported higher container shipping volumes. The global shipping and logistics company, which recently swung back into the black, said that the deal for the two ships, for delivery in 2012, was inked in Seoul yesterday. The two ...
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Sembcorp's Q2 net up 13.6% to $161m
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13 August 10
The Business Times by Joyce Hooi
SEMBCORP Industries posted a 13.6 per cent increase in its second quarter net profit, from $141.9 million to $161.2 million, driven by the bottom line for its marine business sector. The group's revenue for the same period fell 12.2 per cent year-on-year to $2.14 billion. Sembcorp's marine business turnover was 27 per cent lower for the quarter at $1.1 billion, mainly due to the lower value of ...
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Chemoil Q2 earnings fall 74% to US$3.2m
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12 August 10
The Business Times by Ronnie Lim
MARINE fuel oil supplier Chemoil's second-quarter net profit fell 74 per cent year-on-year to US$3.2 million, as higher oil prices in April-June translated into costlier supplies and hit margins. But still, the Q2 result was a turnaround from Chemoil's Q1 net loss of US$13.5 million. Earnings per share in Q2 came in at 0.25 US cent, down from 0.94 US cent a year earlier. The April-June ...
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Market holds its horses with NOL
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11 August 10
The Business Times by Joyce Hooi
DESPITE exceeding expectations with its second-quarter results last week, Neptune Orient Line's share price has slumped 6.1 per cent since last Thursday's close, showing the market's wariness over what the second half of the year has in store for the industry. Yesterday's trading ended with NOL down six cents at $2.00, bringing its loss to 13 cents since Thursday, the eve of its release of Q2 ...
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Container ships: is bigger better?
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11 August 10
The Business Times by David Hughes
THERE was some good news from the liner trades last week. Neptune Orient Lines (NOL) swung back into the black with a second-quarter net profit of US$100 million, reversing a net loss of US$146 million a year earlier. Container shipping arm APL is reporting increased volumes and profits. NOL group president and CEO Ron Widdows said: 'Continued strong container shipping volumes and improving ...
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Griffin jumps onto pharma wagon
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10 August 10
The Business Times
HAVING forged a strong position in spare parts logistics for the marine and offshore sectors, home-grown Griffin Kinetic now wants to penetrate the pharmaceutical logistics industry as well. 'We're not moving away from what we've been doing for the past 21 years,' says managing director Gerry Tan. 'It's just a lateral expansion of what we are doing. 'If you have followed A*Star and even Spring ...
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Full steam ahead for S'pore
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10 August 10
The Business Times
SINGAPORE has had tremendous success in establishing a strong and dynamic maritime cluster covering all commercial, financial, operational and service aspects related to the maritime industry. The maritime cluster is going from strength to strength as can be seen from the number of local and international companies being registered in and undertaking business using Singapore as a regional hub. ...
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Sea Asia bound for record year in 2011
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04 August 10
The Business Times by Joyce Hooi
BUOYED by a recovering economy, exhibition space take-up has reached a record high, nine months before the start of Sea Asia 2011. Bookings for the biennial international maritime conference and exhibition event have zipped past 2,800 square metres - a 20 per cent increase on the net exhibition space booked for the corresponding period before the last exhibition in 2009. The outlook for the 2011 ...
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