Rob Bier has been appointed independent director wef Jan 25
Work experience: Operation executive, TowerBrook Capital LLP, London/Singapore; founder/CEO, SPARCK Hypotheken, Amsterdam; MD, Kensington Mortgages, London
Posts Tagged ‘maritime’
Mermaid Maritime Public Co – Corporate moves
February 1st, 2011 |
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Dec 28: Keppel Corp, SGX, Think Environmental, Rickmers Maritime
December 28th, 2010 |
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Singapore shares may fall slightly on Tuesday after Tokyo’s Nikkei share average opened 0.25% lower. Wall Street erased earlier losses and ended little changed overnight as investors shrugged off a surprise weekend interest rate hike by China’s central bank.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.49% on Monday to 3,159.36 points. Here are some stocks and factors to watch:
Keppel Corp (KPLM.SI), the world’s biggest rig maker, may be in focus after it said late on Monday its offshore and marine unit had won contracts worth $240 million.
Mermaid Maritime +2.5%; Uncertainties removed
December 3rd, 2010 |
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Mermaid Maritime (DU4.SG) +2.5% at $0.415 after saying 49%-owned affiliate Asia Offshore Drilling orders 2 jack-up rigs from Keppel Corp (BN4.SG), contract worth US$360 million ($471.1 million), for delivery 2012, 2013.
Mermaid Maritime orders 2 jack-up rigs from Keppel: Corrected
December 2nd, 2010 |
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Mermaid Maritime says 49%-owned affiliate Asia Offshore Drilling has placed orders with Keppel FELS to build two KFELS B Class jackâ€up rigs worth US$360 million ($472.4 million).
The two jackâ€up rigs are scheduled for delivery in 2012 and 2013 respectively.
Mermaid Maritime off 4.6%; DBS Vickers cuts FY11 view
November 29th, 2010 |
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Mermaid Maritime (DU4.SG) down 4.6% at $0.415 vs $0.40 intraday low, volume moderate at 1.2 million shares; fall comes after as oil & gas drilling group reports THB456.1 million ($19.9 million) FY loss.
Mermaid Maritime off 4.6%; Subsea unit weighs
November 29th, 2010 |
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Mermaid Maritime (DU4.SG) down 4.6% at $0.415 as oil & gas drilling group reports THB456.1 million ($19.9 million) loss for FY ended September vs THB714.5 million profit year earlier, warns of continued drag on bottomline by subsea unit.
Nov 29: Kim Eng, Mapletree Logistics, Mermaid Maritime, Z-Obee, Serial System
November 29th, 2010 |
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Singapore shares may see a weak start on Monday after Wall Street fell on Friday, but news of an 85 billion euro ($148.6 billion) rescue package for Ireland may lend some support. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.04% on Friday to 3,158.08 points, say Bloomberg and Thomson Reuters.
Palm-oil producers: Crude palm oil for February delivery slipped 0.1% in Kuala Lumpur on Nov. 26, snapping its two-day 5.1% advance. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, dropped 0.7% to 73.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s largest noodle maker, declined 3.3% to $2.66. Wilmar International (WIL SP), the world’s No. 1 palm-oil trader, was unchanged at $6.08.
Rickmers Maritime Trust to distribute 3Q DPU of 0.57 US cents
November 12th, 2010 |
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Rickmers Maritime Trust says it will distribute 0.57 US cents (0.74 cents) per unit to unitholders for the third quarter and nine months ended 30 September 2010 (3Q2010), the same DPU as in 2Q2010.
The declared distribution, representing a payout of 13% of income available for distribution, will be paid to unitholders on 15 December 2010.
For 3Q, charter revenue remained stable at US$36.7 million, supported by the long-term, fixed-rate charters attached to 15 of the 16 vessels in Rickmers Maritime’s portfolio.
The slight year-on-year decline from the US$38.1 million reported in 3Q2009 was due to a smaller contribution from the 5,060-TEU containership Kaethe C. Rickmers.
Income available for distribution remained healthy at US$18.3 million in 3Q2010, against US$19.2 million in the corresponding period a year ago.
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Mermaid Maritime, Keppel FELS Shipyard sign Letter of Intent
October 22nd, 2010 |
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Mermaid Maritime PCL said it signed a letter of intent with Keppel FELS Shipyard for the construction of two jack-up rigs worth about US$360 million ($468.4 million). The contract also includes options for another two rigs and could be worth a total of more than US$700 million, Mermaid Maritime said today in a statement to the Singapore stock exchange.
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Mermaid Maritime upgraded to ‘hold’ by DBS
October 6th, 2010 |
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DBS Vickers Securities in an Oct 4 research report says: “Mermaid has corrected 34% since our contrarian downgrade in May 2010. At current level, the stock is trading at a 59% discount to peers on P/B basis.
Mermaid Maritime upgraded to Hold by DBS Vickers
October 4th, 2010 |
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DBS Vickers upgrades Mermaid Maritime (DU4.SG) to Hold from Fully Valued, raises target price to $0.52 from $0.32, based on 0.8x FY10 P/B vs P/E methodology previously, says Dow Jones.
DBS Vickers notes stock trades at 59% discount to peers on book basis after recent sell-off driven by bigger-than-expected 2Q10 loss.
“We believe the negatives have been priced in, and investors should not ignore the value in Mermaid’s quality subsea assets,” says the broker.
Oct 4: Ascott Residence Trust, Rickmers Maritime, Singapore Exchange
October 4th, 2010 |
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Singapore shares may open higher on Monday after Wall Street extended its rally, led by gains in resource stocks following data in China that showed a pick-up in manufacturing activity. Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.07% on Friday to close at 3,130.90 points.
The Dow Jones industrial average <.DJI> was up 0.39% at 10,829.68. The Standard & Poor’s 500 Index <.SPX> gained 0.44% at 1,146.24. The Nasdaq Composite Index <.IXIC> finished 0.09% higher to close at 2,370.75.
Mermaid Maritime Public Co – Corporate moves
September 23rd, 2010 |
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Stephen William Davey has been appointed ED wef Sep 16
Work experience: Independent strategy consultant, United Kingdom & Eastern Europe; commercial director, CTC Marine Projects Ltd, United Kingdom
Rickmers Maritime rated ‘hold’ by DBS
August 19th, 2010 |
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DBS Vickers Securities in an Aug 16 research report says: “2Q10 net profit took a tumble to US$0.6 million, compared to US$5.4 million in 1Q10 and US$5.2 million in 2Q09. Revenues and operating cash flows continued to be stable, though, as the long-term contracts continued to perform as expected.
Rickmers Maritime gets $765m 5-year ship financing loan
August 11th, 2010 |
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Rickmers Maritime, a Singapore-based business which owns and operates containerships under fixed-rate charters, got a US$565 million ($765 million) term loan which matures in 2015, according to data compiled by Bloomberg.
Proceeds will be used for ship financing and lead arrangers include DnB Nor ASA and HSH Nordbank AG, the data show.
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Mermaid Maritime off 4.9%; Earnings view dims
June 23rd, 2010 |
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Mermaid Maritime (DU4.SG) below $0.50 for first time in almost 3 weeks, off 4.9% at $0.490 in active trade, extending yesterday’s 8.0% loss, on continued unease over earnings outlook, says Dow Jones.
This after oil drilling firm sold its KM-1 tender rig project for US$66.6 million ($92.4 million) to Malaysia’s Kencana Petroleum (5122.KU), incurring US$7.4 million loss. Company disposing rig (ordered in 2007 but still under construction) in bid to cut losses, citing delay in construction, cost overruns.
Mermaid Maritime off 7.1%; Books loss from rig sale
June 22nd, 2010 |
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Mermaid Maritime (DU4.SG) down 7.1% at 2-week low of $0.52 in active trade as oil drilling firm books US$7.4 million ($10.2 million) loss from sale of its KM-1 tender rig project to Malaysia’s Kencana Petroleum (5122.KU) for US$66.6 million, says Dow Jones.
Company disposing rig (ordered in 2007 but still under construction) in bid to cut losses, citing delay in construction, cost overruns.
June 22: NOL, Wilmar, Yangzijiang, Sembcorp, Sound Global, Mermaid Maritime
June 22nd, 2010 |
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Singapore’s benchmark Straits Times Index gained 1.84% on Monday to 2,885.64 points. The Singapore market will likely lose ground after US stocks succumbed to late-day selling on Monday as hopes China’s newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing’s intentions.
Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, fell 3.5% in London yesterday, taking it 17-day loss to 38%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, climbed 4% to $1.55. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, gained 3.7% to 28 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 3.3% to $13.36. The company said it plans to invest 165.9 billion won ($189 million) to build bulk carriers.
June 7: Financial stocks, Parkway, F&N, TPV, CapitaLand, Mermaid Maritime
June 7th, 2010 |
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Singapore’s benchmark Straits Times Index rose 0.5% to 2,806.51 points on Friday.
The Dow Jones industrial average <.DJI> fell 3.2% 9,931.97 points on Friday. The Standard & Poor’s 500 Index <.SPX> dropped 3.44%, while the tech-heavy Nasdaq Composite Index <.IXIC> slumped 3.64%.