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Torm tanks
Danish giant sinks into the red and warns of possible large loss in 2010 as dividends aves.
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Hanjin sells
Container line Hanjin Shipping Holdings is upping its stake in operating unit Hanjin Shipping to comply with Korean law.
It is issuing KRW 744.7bn ($638m) of new shares to acquire up to 30m shares in Hanjin Shipping from other investors and lift its holding above the 20% minimum required.
Its share price fell 8% to KRW 16,100 on Friday morning as a result of the announcement, with investors concerned about stock dilution.
Hanjin Shipping posted a net loss of KRW 279bn in the fourth quarter as rates fell.
The container line split into a holding company and an operating company last year.
Latest News
Clarksons up
End of legal spat with Russians and large cost cuts save Andi Case-led broker as sales slump in poor markets.
Ow buys Boheme
Singapore Shipping back in buying mode with acquisition of Wallenius pure car truck carrier.
Brazil job for SMM
SembCorp Marine’s Jurong Shipyard to carry out pre-conversion works on Petrobras FPSO.
China crude high
February’s crude imports into the People’s Republic reached the second highest level on record.
Long Beach jumps
US west coast container port has reported a third consecutive month of growth in volumes.
Seattle surprise
Port of Seattle posts positive results despite a steady decline in container traffic.
Chilly reception
Baltic Trading shares dip on debut but analysts are bullish after New York’s first post-crash IPO.
Moving downtown
Michael Bodouroglou-led Paragon to ditch the Nasdaq for a new listing on the New York Stock Exchange.
Baltic IPO hot
Genco spin-off Baltic Trading hits the mark pocketing $300m from its initial public offering.
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