Singapore Exchange has launched a maritime stock index as it continues to target the sector. GX, Singapore Press Holdings and FTSE launched the FTSE ST Maritime Index today in a move the exchange said was in line Singapore’s efforts to become an international maritime centre.
The new index comprises 12 companies that derive at least 55% of their revenues from maritime related businesses, including the building, repair, owning or operation of vessels.
“The new index provides investors and analysts a benchmark tool to track and measure the performance of SGX listed companies in the maritime industry that meet the indexing standards required by international investors,” the exchange said.
The 12 companies on the index are Neptune Orient Lines, STX Pan Ocean, Rickmers Maritime, First Ship Lease Trust, Mercator Lines (Singapore), Courage Marine, Cosco Corp, Yangzijiang Shipbuilding,
JES International, Jaya Holdings, ASL Marine and Swissco International.
The maritime index is the latest move by SGX to bolster its position as in the maritime, offshore and energy industries.
In recent years the exchange has moved to attract international maritime companies to list in Singapore, with measures including the launch three years ago of the listed shipping trust model.
Recently SGX tied up with Oslo Bors to try and encourage dual listings of maritime, offshore and energy companies on their respective exchanges.
The new index comprises 12 companies that derive at least 55% of their revenues from maritime related businesses, including the building, repair, owning or operation of vessels.
“The new index provides investors and analysts a benchmark tool to track and measure the performance of SGX listed companies in the maritime industry that meet the indexing standards required by international investors,” the exchange said.
The 12 companies on the index are Neptune Orient Lines, STX Pan Ocean, Rickmers Maritime, First Ship Lease Trust, Mercator Lines (Singapore), Courage Marine, Cosco Corp, Yangzijiang Shipbuilding,
JES International, Jaya Holdings, ASL Marine and Swissco International.
The maritime index is the latest move by SGX to bolster its position as in the maritime, offshore and energy industries.
In recent years the exchange has moved to attract international maritime companies to list in Singapore, with measures including the launch three years ago of the listed shipping trust model.
Recently SGX tied up with Oslo Bors to try and encourage dual listings of maritime, offshore and energy companies on their respective exchanges.