Home THE DAILY EDGE Business Nov 23: Cosco, Keppel, SembCorp Industries
Nov 23: Cosco, Keppel, SembCorp Industries

Tags: Cosco Corporation (Singapore) | First Ship Lease Trust | Golden Agri-Resources | Indofood Agri Resources | Keppel Corporation | Mercator Lines (Singapore) | Sembcorp Industries | Stx Pan Ocean Co. | Wilmar International

Written by The Edge   
Monday, 23 November 2009 08:40
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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.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 3.3% in London on Nov. 20, snapping its 16-day, 56% advance. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.8% to $1.12. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, lost 1.5% to 32 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, dropped 2.5% to $14.36.

Palm oil suppliers: Crude palm oil for February delivery climbed 2% on Nov 20 to its highest level since Aug 18. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, added 1.1% to 47 cents. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, rose 1.1% to $1.80. Wilmar International (WIL SP), the world’s biggest palm oil trader, lost 0.6% to $6.28.

First Ship Lease Trust (FSLT SP): The ship-leasing company said it plans to raise up to US$200 million ($278 million), selling senior notes due 2016. First Ship Lease added 0.8% to 60 cents.

Keppel Corp. (KEP SP): The world’s biggest oil-rig builder said it won US$304 million ($422 million) in contracts from Noble Corp. to upgrade and repair two drill ships in Brazil. Keppel rose 1.1% to $8.13.

SembCorp Industries (SCI SP): The owner of the world’s second-biggest oil-rig builder said it won a US$1 billion ($1.4 billion) contract for a power and water project in Oman. SembCorp Industries climbed 2.8% to $3.68.

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Last Updated on Monday, 23 November 2009 08:43