Cosco Corp. Singapore, the shipbuilding unit of China’s largest shipping company, gained the most in five months in Singapore trading after it delivered a new vessel.
The China-based shipbuilder that also operates bulk carriers added 6.1% to $1.21 at 2:48 p.m. in Singapore, the most since July 28. The company said its Zhoushan shipyard delivered a bulk carrier to a unit of China Cosco Holdings Co., according to a Singapore stock exchange statement yesterday.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index was little changed at 2,799.54.
Asian stocks are set to climb today, as the helping hand extended to debt-laden Dubai proved a confidence booster for world markets. Wall Street stocks closed at 14-month highs as the Dubai optimism was reinforced by Citigroup (C.N) unveiling a plan to pay back the US$20 billion ($27.8 billion) it owes the US Government. Bank of America (BAC.N) paid off its US$45 billion loan last week.
Cosco Corporation (Singapore) says subsidiary Cosco (Dalian) Shipyard Co. has delivered a new build 30,000 dwt multipurpose heavy lift carrier, the M.V. Adam Asnyk, to its buyer, a joint venture between Chinese and Polish Governments. The heavy lift carrier measures 199.8 meters long, 27.8 meters wide and 15.5 meters high. Classed by BV, the M.V. Adam Asnyk, has a draft of 11 meters and a navigation speed of 19.2 knots.
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The following companies may have unusual price changes in Singapore trading today, say Bloomeberg and Thomson Reuters. Stock prices are from the previous close. Singapore’s Straits Times Index fell 0.3% to 2,797.21. US stocks ended higher last night as the US dollar fell and investor’ appetite for risk returned, lifting shares of financial, technology and natural resource companies.
Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 2.8% in London yesterday, taking losses in the past three days to 7.7%.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, was unchanged at $1.08. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 31 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 1.2% to $13.78.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index added 0.2% to 2,796.98 last evening.
US stocks ended slightly lower last night after comments by Federal Reserve Chairman Ben Bernanke sparked jitters about the economic recovery. Bernanke said the economy faces “formidable headwinds”, including a weak labour market and tight credit conditions.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index added 0.4% to 2,808.18.
US stocks fell last night after data showed the vast US services sector unexpectedly shrank in November and investors worried that Friday’s non-farm payrolls report may show the recovery is sluggish.
Cosco Corporation (Singapore) says subsidiary Cosco (Nantong) Shipyard Co. has delivered its converted pipeline-laying vessel M.V. Caesar to its American buyer Helix Energy Solution Group on Nov 25.
M. V. Caesar, classified by Lloyd’s, is 17m high, 30m wide, and 210m long and its living quarter can accommodate about 220 persons.
Cosco Corporation (Singapore) says its subsidiary, Cosco (Nantong) Shipyard Co. has delivered its newly built Sevan Driller to Sevan Marine ASA on Nov 23.
The Sevan Driller has completed sea trails off the coast of China and has started its voyage to Brazil to start a six-year contract with Petrobas S.A. The self-propelled rig has completed an extensive commissioning and sea trial programme, including speed trials confirming speeds above 9 knots.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index advanced 1.3% to 2,797.88 last night.
Asian stocks are likely to rise today after strong US home sales data fuelled optimism about the strength of the economic recovery and as a weaker dollar boosted commodity shares, sending Wall Street higher.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close.
Singapore’s Straits Times Index was little changed at 2,761.54 last Friday. Asian stocks are seen trading weaker on Monday following a soft session on Wall Street last Friday on worries about an anaemic recovery, while tech stocks could come under pressure after Dell (DELL.O) results missed expectation.
Cosco Corporation (Singapore) says subsidiary Cosco (Dalian) Shipyard Co. has agreed to reschedule the delivery dates of five units of 92,500 dwt bulk carriers contracted by a European ship owner.
Contracts on the five bulk carriers were announced by Cosco Corp on Oct 24, 2007.
Cosco Corporation (Singapore) says subsidiary Cosco (Nantong) Shipyard Co. has agreed to a request by US buyer ATP Oil & Gas (UK) to pay the remaining US$99 million for a vessel only upon its delivery instead of in instalments as originally agreed.
The contract for the construction of the vessel was announced by Cosco Corporation (Singapore) on April 9, 2008.
Cosco Corporation (Singapore) says that units Cosco (Dalian) Shipyard Co. and Cosco (Guangdong) Shipyard Co. have agreed to reschedule the delivery dates of five bulk carriers contracted by an European ship owner. The delivery dates for those five vessels will now be delayed by between four and 13 months till not later than 2012.
Meanwhile, Cosco Corporation (Singapore) says unit Cosco (Dalian) Shipyard Co. has delivered two new build ships, which are both 57,000 dwt bulk carriers, namely the M.V. Chang Shun II and the M.V. Ingrid C, to its buyers, who are Sino-African and European ship owners respectively.
Each bulk carrier measures 189.99m long, 32.26m wide and 18m high, has a draft of 12.8m and a navigation speed of 14.2 knots.
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Cosco Corp. Singapore, the shipbuilding unit of the world’s largest operator of dry-bulk ships, posted a second-quarter profit decline of 71% after customers delayed payments.
Net income declined to $37 million in the three months ended June 30 from a record $128.7 million a year earlier, the company said today in a statement to the Singapore stock exchange. Sales dropped 31% to $718.5 million.
