TradeWinds – By Eric Martin – Fundraiser could seek $100m as Israeli operator seeks access to public equity markets. Zim Integrated Shipping Services has filed papers to launch an initial public offering in New York, in a bid to make good on long mooted plans to go public. The Israeli containership operator aims to...
Cato Institute By Colin Grabow Jones Act supporters, including the owners of ships operating in the domestic fleet, often claim the law is necessary to thwart China’s maritime ambitions. But it’s unclear how many of them actually believe such rhetoric. Despite professed concerns about China and the need to avoid foreign reliance for U.S....
NASDAQ – By Nalak Das – The U.S. stock market has performed fairly well year to date despite the coronavirus onslaught over the last few months. Wall Street has performed fairly well so far in 2020 after recovering impressively from the pandemic-led bear market. At present, all the three major stock indexes — the...
American Shipper by Greg Miller Preliminary Matson numbers point to big gains for larger carriers “We knew it was going to be good, but dadgum …,” exclaimed Stifel analyst Ben Nolan upon seeing the preliminary third-quarter 2020 results from Matson (NYSE: MATX). Matson’s disclosures offer the first signals of how solid Q3 2020 earnings...
Alexander & Baldwin Inc. said today its board of directors has approved a plan to split the company into two separate companies, one focusing on real estate and agriculture and the other on shipping. The two companies would be independent and publicly traded, the company said in a news release. Under the plan, A&B...
Although its agribusiness sector continued its recovery in the first quarter, Alexander & Baldwin’s usual profit center, Matson Navigation Co., lost money, and the company reported a thin profit of $5.2 million, or 12 cents per share, Tuesday. President Stanley Kuriyama said Matson couldn’t adjust its fuel surcharges fast enough to keep up with...