Shipping

US politicians isolated in Dubai crusade

28 Feb 2006

The US accounts for 15% of P&O s global port capacity, but 100% of the fear about security risk from a Dubai takeover. Since that's a job for Homeland Security, not DPW, the affair risks showcasing racism rather than legitimate concerns about port protection.

Trade deficit lies behind US ports quarrel

24 Feb 2006

Petrodollars are piling up in the Middle East. Some are being spent on the controversial Dubai purchase of P&O s US ports. The US deficit seemed painless when it was mostly with Asia. The surplus is shifting to Opec countries which should drive a tougher bargain.

Temasek could upset DPW’s P&O bid

5 Dec 2005

The Port of Singapore owner is unlikely to stop at 5% of the UKlisted operator. It needs 10% to avoid being squeezed out by Dubai Ports. A full bid would make industrial sense, but not financial sense.

DP World hits on neat petrodollar arbitrage

1 Dec 2005

The Dubai ports operator has come up with an innovative $2.8bn convertible bond to finance its acquisition of P&O. It is exploiting a valuation discrepancy between the redhot Abu Dhabi stock market and relative tepid Western ones.

Stelios deftly cashes out of shipping

13 Dec 2004

By assiduously courting the arbs he first blocked a lowball bid. And by helping to shop the firm, he brought in a knockout one. The $1.3bn sale of Stelmar was not an easy deal for the EasyEverything entrepreneur, but his efforts have paid off.

Stelios hits the warpath

21 Sep 2004

The Greek entrepreneur is being treated like a stowaway on his own yacht with Stelmar s $677m agreed sale to private equity group Fortress. But Stelios is not walking the plank without a fight. And he has some good arguments for taking on the Stelmar board.

Stelios runs aground in the US

8 Sep 2004

For a guy who likes things easy, the entrepreneur is having a dastardly time executing plans for his US shipping group Stelmar. Easyjet investors betting on a Stelios buyout better hope he doesn t need the money from Stelmar to make his move.

The customers’ yachts

7 Oct 2002

Monti’s volte face

22 Jul 2002

All at sea

25 Apr 2002

Scuttle

19 Mar 2002

mergermarket.com: Carnival navigates EU competition law

4 Mar 2002

Sailing

15 Feb 2002

Sea battle

14 Feb 2002

Trust and anti-trust

7 Feb 2002

Lean and mean

30 Jan 2002

Counterwind for Royal

29 Jan 2002

Mergermarket.com: Benefits of dual listed companies

28 Jan 2002

Hey Micky

25 Jan 2002

Princessly price

11 Jan 2002