Latest news with #CSDR
Yahoo
27-05-2025
- Business
- Yahoo
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG)
Reference is made to the first quarter 2025 report released on May 27, 2025. Golar LNG Limited ('Golar'), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025. Due to the implementation of the Central Securities Depository Regulation ('CSDR'), please note the information below on the payment date for the small number of Golar shares registered in Norway's central securities depository ('VPS'): Dividend amount: $0.25 per share Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK Last day including right: May 30, 2025 Ex-date: June 2, 2025 Record date: June 3, 2025 Payment date: On or about June 10, 2025. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 12, 2025. Golar LNG LimitedHamilton, BermudaMay 27, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Okeanis Eco Tankers Corp. Reports Financial Results for the First Quarter of 2025
ATHENS, May 14, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (together with its subsidiaries, unless context otherwise dictates, 'OET' or the 'Company') (NYSE: ECO, OSE: OET) today reported its unaudited condensed financial results for the first quarter of 2025, which are attached to this press release. Financial performance of the First Quarter Ended March 31, 2025 • Revenues of $80.1 million in Q1 2025, compared to $111.1 million in Q1 2024. • Profit of $12.6 million in Q1 2025, compared to $41.6 million in Q1 2024. • Vessel operating expenses of $10.5 million in Q1 2025, compared to $10.6 in Q1 2024. • Earnings per share of $0.39 in Q1 2025, compared to $1.29 in Q1 2024. • Cash (including restricted cash) of $43.0 million as of March 31, 2025, compared to $54.3 million as of December 31, 2024. Alternative performance metrics and market development* • Time charter equivalent ('TCE', a non-IFRS measure*) revenue of $48.6 million in Q1 2025. • EBITDA* and Adjusted EBITDA* (non-IFRS measures*) of $33.8 million and $32.5 million, respectively, in Q1 2025. • Adjusted profit* and Adjusted earnings per share* (non-IFRS measures*) of $11.4 million or $0.36 per basic and diluted share in Q1 2025. • Fleetwide daily TCE rate* of $38,500 per operating day in Q1 2025; VLCC and Suezmax TCE rates of $38,000 and $39,200 per operating day, respectively, in Q1 2025. • Daily vessel operating expenses ('Daily Opex', a non-IFRS measure*) of $9,233 per calendar day, including management fees, in Q1 2025. • In Q2 2025 to date, 72% of the available VLCC spot days have been booked at an average TCE rate of $46,700 per day and 64% of the available Suezmax spot days have been booked at an average TCE rate of $50,600 per day. Declaration of Q1 2025 dividend The Company's board of directors declared a dividend of $0.32 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on June 12, 2025, to shareholders of record as of June 3, 2025. The common shares will be traded ex-dividend on the NYSE as from and including June 3, 2025, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including June 2, 2025. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about June 17, 2025. *The Company uses certain financial information calculated on a basis other than in accordance with IFRS, including Daily TCE, EBITDA, Adjusted EBITDA, Adjusted profit, Adjusted earnings per share, and Daily Opex. For a reconciliation of these non-IFRS measures, please refer to the end of this report. Presentation OET will be hosting a conference call and webcast at 14:30 CET on Thursday May 15, 2025 to discuss the Q1 2025 results. Participants may access the conference call using the below dial-in details: Standard International Access: +44 20 3936 2999USA: +1 646 664 1960Norway: +47 815 03 308Password: 435257 The webcast will include a slide presentation and will be available on the following link: An audio replay of the conference call will be available on our website: Contacts Company:Iraklis Sbarounis, CFOTel: +30 210 480 4200ir@ Investor Relations / Media Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230 Park Avenue, Suite 1540, New York, N.Y. 10169Tel: +1 (212) 661-7566okeanisecotankers@ About OET OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers. Forward Looking Statements This communication contains 'forward-looking statements', including as defined under U.S. federal securities laws. Forward-looking statements provide the Company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as 'anticipate,' 'believe,' 'continue,' 'estimate,' 'expect,' 'hope,' 'intend,' 'may,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will' or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company's actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company's filings with the U.S. Securities and Exchange Commission (the 'SEC'). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company's filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC's website at This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. A PDF associated with this press release can be found here: in to access your portfolio
Euronews
16-04-2025
- Business
- Euronews
Trump the unifier? How Europe could benefit from Trump's policies
ADVERTISEMENT As countries across the globe rewrite their trade rule books following the uncertainty posed by US tariffs, a new strategic report predicts that US President Donald Trump's policies are just the medicine that the European Union needs to become a true single market, fuelling growth, productivity, and profits over the long term. Although Europe won't avoid a recession, coordinated fiscal support, likely monetary policy easing from the European Central Bank (ECB), and a renewed integration push 'will soften the blow and boost long-term growth'. That's according to a report by investment research company BCA, called 'Trump The Unifier'. 'Ironically, Trump is doing more to advance European unity than anyone since Schumann, Monnet, and Adenauer,' Mathieu Savary, BCA's Chief European Strategist, noted. Despite the temporary 90-day pause on the 20% tariffs hitting EU goods exports to the US, BCA said a recession is definitely on the cards. According to the report, the eurozone economy is plagued with uncertainty, weakening business confidence and deteriorating capital expenditure. These challenges arrive at a time when the region is already struggling, with GDP only growing a modest 0.1% in the final three months of 2024. Tariffs and uncertainty are expected to push an already fragile economy into contraction for at least for two consecutive quarters around mid-2025. The European Commission estimated tariffs could wipe out 0.2% of eurozone GDP by 2027. In a more severe scenario, if tariffs are permanent or if there are sustained countermeasures, this hit count amount to 0.5%-0.6% in three years' time. Related Trump considers pausing auto tariffs as world economy endures whiplash US moves ahead with tariffs - launching pharma and chip investigations What is on the table when the EU negotiates with the US? BCA expects that negotiations will take a while, as the US will want to conclude new trade deals with Mexico and Canada before it cooperates with the EU. Canada is also having federal elections on 28 April, pushing back any serious talks until after that. Savary believes that the discussions between the EU and the US will go into full force in the third quarter of 2025. And those talks are not going to be easy, as most of the topics on the table are linked to non-tariff barriers. Many of them are linked to internal EU rules, including the EU regulation on information privacy, dubbed GDPR, the common Central Securities Depository regulation (CSDR), and the Common Agricultural Policy. What is potentially helping the EU's negotiating position is that the US is exporting a lot more services to the EU than the EU is to the US. The total bilateral trade in this sector was worth €746 billion in 2023, according to the European Commission. One measure that could help the EU clinch a deal is if the bloc offered to buy more energy from the US. Savary told Euronews Business that 'a trade deal will hinge on Europe softening a few nominal rules, but most importantly, buying a lot more US energy'. Related Can the EU really ramp up imports of US energy as Trump demands? - Analysis The US wants to increase energy production, while Europe is on the lookout for affordable liquified natural gas imports as it builds an enormous LNG regasification facility on the Northern coast to help meet demands across the bloc. The strategist calls it a win-win situation: 'For the United States to have a stable buyer of natural gas is a win. For Europe to be fully supplied in natural gas is a win.' How to boost the lagging European economy Washington's latest flip-flop on tariffs has brought about trade uncertainty, and as a result, the EU's economy is experiencing declining business sentiment, lowering corporate profits, and dwindling European capital expenditure and investment rates. In short, this is leading to recession in Europe. ADVERTISEMENT A crucial short-term step BCA expects is fiscal support from countries like Germany, where the government's stimulus package promises an additional 1% per year to growth over the next 2 years. Another move to boost the eurozone economy could be for the European Central Bank (ECB) to cut its deposit rate below 2%. Moreover, the report said that the ECB could resume its quantitative easing (QE) programme, a tool that allows the central bank to buy bonds from commercial banks, pumping additional liquidity into the European economy and boosting investments. Further EU policy measures are expected to include diversifying trade away from the US, which could act as an insurance policy for any external trade shocks the bloc could face in the future. ADVERTISEMENT Improving trade with India, Canada, Latin America, and the UK is on the table, Savary said. How is Trump good news for the European economy? With the urgent need to protect the European economy from external shocks and further impacts from Washington's ever-changing tariffs, the European Union is expected to take a few long-awaited leaps of faith, including the completion of the single market. The European Union's economy is still very fragmented, and regulatory variations between countries often act as non-tariff barriers between the member states, a long-running hindrance to Europe's competitiveness and prosperity. Lifting regulatory barriers could give a boost to the overall EU economy — as argued in a number of high-profile EU reports . ADVERTISEMENT According to the IMF, non-tariff barriers within the EU are equivalent to a 44% tariff on goods and a 110% tariff on services. 'It's as if there was a 44% tariff between Germany and Italy, for example,' Savary said, adding that 'this is starting to have a very negative impact on growth and explains in big part the gap in productivity between Europe and the United States'. Services are struggling the most, though this sector provides 65% of the EU's economic output. 'There's a lot less service trade between European countries than we see between US states, for example,' Savary explained. ADVERTISEMENT Related Capital Markets Union: What is it and what could it bring to Europe? Great white hope of EU capital market plans is a bust, think tank says Implementing the Capital Markets Union (CMU), now dubbed the Savings and Investments Union (SIU), has been a challenge to EU integration. The SIU aims to tap into private savings to channel them into investments in Europe, as well as streamlining fragmented financial regulations across member states. However, there is still a long way ahead for European policymakers before it becomes a reality. 'The probability of this happening has increased a lot thanks to President Trump,' said Savary. What investment in Europe appears to be the most favourable? Amid volatile movements on the stock markets, the German bunds appear to be one of the safest choices, according to BCA. 'It's not US Treasuries, it's UK Guilds, it is the Germans Bunds,' Savary said. The peripheral bond market is also seen as safe in Europe right now, with Spain leading the race, thanks to its strong public finances. ADVERTISEMENT Besides sovereign bonds, so-called defensive stocks (the ones that outperform when markets and the economy are down) also offer protection against the current turmoil, according to the report. Defensive stocks include shares in utilities and telecom firms. Wider European equities could remain unstable for the next 3 to 6 months, said BCA. However, in the longer term, the report expects European stocks to yield attractive returns, seeing a moment to re-engage as structural reforms take hold. The bloc's outlook is expected to improve as 'Europe's energy crisis will continue to fade, global capex will recover, and most importantly, German fiscal stimulus and deeper integration will lift European growth and productivity,' the report said. It added that the current near-term pullback in European stocks has created a buying opportunity for long-term investors. 'Europe is on a much stronger footing to grow than it's been at any point in the last 15 years or so,' Savary said. ADVERTISEMENT Against this backdrop, as the US president's trade policies are pushing Europe to reform faster, BCA foresees a boost in productivity and profit growth in Europe. 'We think that the next few years are going to remain quite friendly to European equities relative to US equities and for European assets relative to US assets,' the chief strategist said. Disclaimer: This information does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances. Also remember, we are a journalistic website and aim to provide the best guides, tips and advice from experts. If you rely on the information on this page, then you do so entirely at your own risk.
Bloomberg
20-02-2025
- Business
- Bloomberg
February Global Regulatory Brief: Trading and markets
Accelerated Settlement Taskforce Technical Group releases T+1 transition report The Accelerated Settlement Taskforce Technical Group has released a comprehensive report outlining the UK's implementation plan for the transition to T+1 settlement, which is set to begin on October 11, 2027. In more detail: The report includes several key recommendations and actions necessary for a successful transition: T+1 Code of Conduct (UK-TCC): Defines the scope, timetable, and expected behaviors for market participants to meet their T+1 obligations, including twelve critical actions across four business areas. Scope of Changes: Recommends amendments to the UK Central Securities Depositories Regulation (CSDR) to facilitate the transition to T+1, including setting the first day of UK cash securities trading for T+1 settlement on October 11, 2027. Settlement Processes: All allocation and confirmation processing must be completed electronically using recognized industry standards by the end of 2026, with settlement instruction submissions to the CSD completed by 5:59 AM UK time on T+1. Financial Market Infrastructures (FMIs): FMIs and their third-party providers must review and update their systems and processes to ensure there are no barriers to T+1, including the CREST modernization project. Static Data and Securities Financing Transactions (SFTs): Market participants must implement core principles and templates for sharing standard settlement instructions (SSIs) and automate stock lending recalls. Corporate Actions and Foreign Exchange (FX): Actions to improve corporate actions processing and reduce FX settlement risk, including reviewing and updating dividend processing and claims policies. Main lesson: The report emphasizes the importance of automation, compliance, and timely action to ensure a successful transition to T+1. It highlights the need for collaboration among market participants, FMIs, and public authorities. Significance: The report provides a detailed timeline for market participants, FMIs, and the AST to follow from 2025 to 2027, ensuring a seamless implementation of T+1 settlement. Looking ahead: The UK Government welcomes the report and will set out its response shortly. Additional firms charged in SEC off-channel communications sweep The U.S. Securities and Exchange Commission ('SEC') announced charges against nine investment advisers and three broker-dealers for failing to preserve electronic communications records. The firms acknowledged the violations and agreed to pay combined penalties of more than $63 million. In more detail: Each of the SEC's investigations found the use of unapproved (or 'off-channel') communication methods by staff at multiple levels of authority, which led to a failure to preserve records required to be maintained under federal securities laws. Each firm was also charged with failing to reasonably supervise their personnel with a view to preventing these violations. Context: The charges are part of an expansive enforcement sweep of registrants' communications and record keeping practices, from which the SEC has collected billions of dollars in penalties. It is unclear whether this enforcement sweep will continue under Acting Chairman Mark Uyeda. Saudi Exchange launches fixed income market-making framework The Saudi Exchange has introduced a Fixed Income Market Making Framework to enhance liquidity in the secondary market and improve price formation efficiency. Summary: The framework is designed to stimulate activity in the secondary fixed-income market, following the successful introduction of market makers in equities and derivatives in 2023, and is aimed to enhance liquidity, increase transaction frequency, and attract both domestic and international investors. Under the Market Making Regulations, participants must be Saudi Exchange members and can act as principals or agents on behalf of clients. Next steps: The Saudi Exchange will publicly disclose a list of market makers and the securities they cover on its website and will offer incentives to participants who meet their obligations. Korean FSC introduces WGBI inclusion to promote global investment in KTBS The Korean Financial Services Commission (FSC) introduced omnibus trading accounts and promotes the Global Operating Model to enhance foreign investors' convenience and access to Korea Treasury Bonds (KTBs). In summary: The FSC and relevant organizations have proposed revisions to the enforcement decree and supervisory rules of the Financial Investment Services and Capital Markets Act (FSCMA) to introduce a consolidated trading scheme for KTBs. This follows the government's plan to revamp the KTB and Monetary Stabilization Bonds (MSBs) Investment Framework announced in December 2024 after Korea's inclusion in the World Government Bond Index (WGBI). What this means for foreign investors: Following the implementation of omnibus accounts for KTB settlements in June 2024, both domestic and foreign banks are preparing to adopt the global operating model to attract foreign investors to the KTB markets. The introduction of omnibus trading accounts will enable foreign financial investment business providers to consolidate their clients' orders in KTB transactions, improving the efficiency of ordering and settling KTB transactions. Foreign investors will have the ability to place trading orders via omnibus trading accounts opened with securities firms and banks and settle the transactions through omnibus settlement accounts at Korea Securities Depository (KSD). Expected regulatory changes: To facilitate the implementation of the model, the FSC and associated organizations plan to offer official interpretations and suggest regulatory amendments to address legal ambiguities. The FSC makes it clear through authoritative interpretation that foreign banks are allowed to sell KTBs that they do not own and then buy them later from domestic banks for the purpose of meeting the demand of foreign investors. The FSC plans to revise the enforcement decree of the FSCMA to allow foreign banks to buy KTBs from foreign investors and sell them to domestic banks before the settlement of the purchased KTBs. It is also made clear through authoritative interpretation that domestic banks, who act as dealers, are allowed to sell KTBs that they do not own and then buy them back later in the KTB market to meet foreign investor demand. What's next: The FSC plans to complete actions requiring authoritative interpretations and proceed with revisions to the Regulation on Financial Investment Business and the Enforcement Decree of the Capital Markets Act as soon as possible. The government will work closely with relevant organizations and the financial industry to support the advancement of capital markets and maximize the positive effects of Korea's inclusion in the WGBI.
Yahoo
19-02-2025
- Business
- Yahoo
Okeanis Eco Tankers Corp. – Key Information relating to Q4 2024 dividend
ATHENS, Greece, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. ('OET' or the 'Company') (NYSE: ECO / OSE: OET), announced today that the Company's board of directors (the 'Board') has declared a dividend on its common shares (the 'Dividend'). Due to implementation of the Central Securities Depository Regulation ('CSDR') in Norway, shareholders who hold shares registered in Euronext Securities Oslo, the central securities depository in Norway ('VPS') should please note the information on the payment date to the shares registered in VPS below. Since May 28, 2024, the New York Stock Exchange ('NYSE') has been settling its trades on a T+1 basis, while the Oslo Stock Exchange ('OSE') continues to settle its trades on a T+2 basis. As a result, there will be different ex-dividend dates between the two exchanges, as set out below. Key information relating to the Dividend: Dividend amount: USD 0.35 per common share. Declared currency: USD. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. Date of Board approval: February 19, 2025. Last day including right OSE: February 27, 2025, the last date on which the Company's common shares trading on the OSE will include the entitlement to the Dividend. Last day including right NYSE: February 28, 2025, the last date on which the Company's common shares trading on the NYSE will include the entitlement to the Dividend. Ex-date OSE: February 28, 2025, the date on which the Company's common shares will begin trading on the OSE without the entitlement to the Dividend. Ex-date NYSE: March 3, 2025, the date on which the Company's common shares will begin trading on the NYSE without the entitlement to the Dividend. Record date OSE and NYSE: March 3, 2025 Payment date: March 17, 2025. Due to the implementation of CSDR in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about March 20, 2025. The Company encourages you to contact your bank, broker, nominee or other institution if you have any questions regarding the mechanics and timing of having the Dividend attributable to your common shares credited to your account. Contacts Company: Iraklis Sbarounis, CFOTel: +30 210 480 4200ir@ Investor Relations / Media Contact: Nicolas Bornozis, PresidentCapital Link, Inc.230 Park Avenue, Suite 1540, New York, N.Y. 10169Tel: +1 (212) 661-7566okeanisecotankers@ About OET OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Børs under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers. Forward-Looking Statements This communication contains 'forward-looking statements', including as defined under U.S. federal securities laws. Forward-looking statements provide the Company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as 'anticipate,' 'believe,' 'continue,' 'estimate,' 'expect,' 'hope,' 'intend,' 'may,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will' or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company's actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company's filings with the U.S. Securities and Exchange Commission (the 'SEC'). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company's filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC's website at This information is published in accordance with the requirements of the Continuing in to access your portfolio
