PortandTerminal.com, September 20, 2020 OSLO, NORWAY – Last week, Norwegian daily Dagens Næringsliv reported that cousins and aunts from three branches of the Wilhelmsen family had offered NOK1bn ($353m) to try and get the current head of the family-run shipping group, Thomas Wilhelmsen, to step down from all his roles at the diverse conglomerate. Wilhelmsen took the reins at the family’s holding …
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REUTERS, SEPTEMBER 17, 2020 WASHINGTON (Reuters) – White House Chief of Staff Mark Meadows met with major airline chief executives on Thursday as the industry braces for thousands of job cuts in two weeks, and urged lawmakers to embrace a $1.5 trillion coronavirus aid package proposed by a bipartisan congressional group and endorsed by President Donald Trump. Meadows told reporters …
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BLOOMBERG, SEPTEMBER 16, 2020 By Katrina Lewis for Bloomberg – Abu Dhabi’s main sovereign wealth fund disclosed a 5.1% stake in Cheniere Energy Inc., the largest U.S. exporter of liquefied natural gas. Abu Dhabi Investment Authority (AIDA) disclosed its holding in a filing dated Monday, giving it an interest in Cheniere valued at $615 million. It’s Cheniere’s fourth-largest shareholder, according …
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REUTERS, SEPTEMBER 15, 2020 By Olga Popova, Gleb Stolyarov and Abhinav Ramnarayan MOSCOW, (Reuters) – Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources. The move by the state-controlled firm …
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REUTERS, SEPTEMBER 8, 2020 HOUSTON (Reuters) – Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects. Wall Street investors are even starting to …
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REUTERS, SEPTEMBER 3, 2020 (Reuters) – Carnival Corp’s shares surged 11% on Thursday after its Italian brand Costa Cruises said two of its ships would resume sailing this weekend, with more to follow. Cruise companies, among the worst hit by the COVID-19 pandemic, were forced to halt voyages for months after ships in Japan, Australia and California made headlines because …
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BLOOMBERG, SEPTEMBER 3, 2020 Money will be used to target new regions, including Europe | Joint venture’s earlier $3.7 billion investment goal reached By Aaron Kirchfeld for Bloomberg – DP World and Caisse de Depot et Placement du Quebec have agreed to invest an additional $4.5 billion in their global portfolio of port terminals. The Dubai-based ports operator and Canadian pension fund manager announced …
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REUTERS, AUGUST 24, 2020 JERUSALEM (Reuters) – Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday. A Zim spokesman said the company was not commenting. Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did …
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BLOOMBERG, AUGUST 19, 2020 (Bloomberg) — The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the Covid-19 crisis. A.P. Moller-Maersk A/S provided guidance for the first time since March, and painted a brighter picture of the future than investors and analysts had anticipated. Soren Skou, …
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REUTERS, AUGUST 13, 2020 (Reuters) – On July 7, the board of directors at Texas fracking sand supplier Hi-Crush granted nearly $3 million in bonuses to four top executives, including $1.35 million for CEO and founder Robert Rasmus. Five days later, the company declared bankruptcy. The payout marked the latest in a series of board decisions that allowed the oilfield …
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