Shipping stocks rise after contracts and trade update.
The case is updated.
The main index on the Oslo Stock Exchange rises 0.25 per cent at 09.40.
Last week ended with an increase of 1.42 per cent, without significant day-to-day effects.
The oil price is traded at the same levels as when Oslo Børs closed on Friday. A barrel of North Sea oil costs 63.7 dollars. The price is down 0.03 percent since midnight.
This is how it is for some of the most traded shares:
- Equinor falls 0.47 percent
- Yara is up 1.67 percent
- Kongsberg Gruppen rises 2.23 per cent
- Vend rises 2.74 percent
- Frontline is up 1.23 percent
Wallenius extensions worth five billion
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The shipping company Wallenius Wilhelmsen has extended two strategic contracts with a total value of almost 500 million dollars, corresponding to around 5 billion Norwegian kroner, according to a stock exchange announcement on Monday.
The first contract is with a leading European car manufacturer and is extended by three years until 2030. The agreement has a total value of USD 580 million, of which the extension amounts to USD 384 million based on expected volumes.
The second contract is with a European manufacturer of heavy machinery equipment and is extended by two years until 2028. This agreement has a total value of 175 million dollars, of which the extension amounts to 114 million dollars.
The share rises 3.4 percent
– Another strong month
Høegh Autoliners transported 1.3 million cubic meters of cargo, according to a trading update.
In the last three months from September to November, the Norwegian shipping company transported a total of 3.8 million cubic meters of cargo.
The average gross freight rate in November was 90.3 dollars per cubic meter, a slight decrease of 0.4 percent compared to the average of the last three months.
– Høegh Autoliners delivers another strong month in November, says CEO Andreas Enger.
The share is up 2.39 percent.
Yara collaboration in the USA and Saudi Arabia
The fertilizer company Yara and the American industrial gas company Air Products are working to enter into an extensive collaboration on the production of ammonia in the USA and Saudi Arabia.
The collaboration includes two major projects. The first is the Louisiana Clean Energy Complex in the USA, which will be the world’s largest low-carbon energy project. Yara will buy the ammonia production, storage and ship facilities for around 25 percent of the total project cost, which is estimated at between 8-9 billion dollars.
The other project is the NEOM Green Hydrogen Project in Saudi Arabia, which is more than 90 percent complete and expected to start commercial production in 2027.
Final investment decisions for the US project are planned by mid-2026, with completion expected in 2030.
The final marketing and distribution agreement for renewable ammonia from the Saudi Arabian project is scheduled to be ready in the first half of 2026
The Yara share falls 1.82 percent.
Deep Value Driller drops the dividend
The rig company has paid out monthly dividends every month so far this year, but no dividend will be paid in December.
This was stated by Deep Value Driller in a stock exchange announcement at the weekend.
The company justifies the decision by saying that a lease agreement with Saipem gives varying rate levels, with lower rates in mobilization and waiting periods.
October was mainly a mobilization month with lower rates, the company says.
The company has a drillship chartered under contract with Saipem.
The share falls 2.75 percent.
Egypt agreement for Scatec
The solar energy company Scatec has signed partnership agreements with Norfund and French EDF for a solar and battery plant of 1.1 gigawatts in Egypt, according to a stock exchange announcement on Monday. The project is Scatec’s largest solar energy project ever.
Following the agreement, Norfund will own 25 per cent of the holding company, while Scatec will retain 75 per cent. The French energy company EDF gets 20 percent of the operating company.
The share rises 1.57 percent.
Stock market gnats rage after issue
The biotechnology company Circio Holding announces a rights issue of up to NOK 50 million at a price of NOK 1.0 per share. The issue is 88.4 per cent guaranteed and subscribed, according to the stock exchange announcement.
The issue will give Circio the necessary capital to finance operations for around twelve months, the company writes.
The share is down 10.46 percent and is trading at NOK 1.13 per share.
