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  • info lily-shipping
    Dear Sir Good day, We have the honor to welcome shipping companies, shipping agents, Ship management companies, Recruiting agents, honorable personality and related concerns to recruit Bangladeshi seafarers. Lily Shipping Limited day by day is emerging as a giant in the country’s maritime market providing world standard seafarers for the safe and secure operation of a wide range of ships worldwide. Bangladeshi seafarers are of relatively high standards in proficiency, hardworking and able to understand various languages up to the required standards. They are well behaved, obedient, trustworthy, nonalcoholic and possess a high moral courage. They are content with reasonable wages. Crew Manning All types of crew sourcing and recruitments. Crew Welfare Our Company is quite aware about the welfare of its crews. We have the required knowledge and experience about the maritime labor laws, Maritime labor Convention MLC 2006 and international labor law (ILO) as well. We concentrate not only on the welfare of the crew members but also their family prospects and necessities. We stay close and connected with the government semen and labor welfare directorate to ensure their rights and necessities. Your kind Co-Operation will be Highly Appreciated. Thanks
    2021-06-29 09:03:17
  • PortDA
    Hi Sabashipping this is new user enquiry for my good vessel
    2021-08-05 17:06:06
  • PortDA Admin
    hello agent
    2021-08-22 19:33:51
  • PortDA Admin
    hi
    2021-08-22 20:05:59
  • PortDA
    Hi this enquiry is for Saba Shipping
    2021-08-22 20:07:12
  • PortDA
    Hi this enquiry is for Saba Shipping
    2021-08-22 20:07:34
  • PortDA Admin
    test
    2021-08-22 20:16:13
  • PortDA Admin
    2021-08-22 20:24:48
  • PortDA Admin
    test
    2021-08-22 20:28:53
  • PortDA Admin
    hello sir
    2021-08-24 15:13:48
  • PortDA Admin
    hello sir
    2021-08-24 15:16:47
  • PortDA Admin
    test msg
    2021-08-24 15:45:35
  • PortDA Admin
    hi there
    2021-08-24 15:49:37
  • PortDA Admin
    ......
    2021-08-24 15:56:07
  • PortDA Admin
    12345
    2021-08-24 16:05:58
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    12345
    2021-08-24 16:06:51
  • PortDA Admin
    retest
    2021-08-24 16:09:52
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    retest
    2021-08-24 16:10:05
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    test msg
    2021-08-24 16:12:45
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    hello
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    test msg
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  • bab al ugsa
    I would like to know more details
    2022-04-06 13:04:56
PortDA Port News | Maritime News | Shipping News | Port Volume | Online News | Online Port News | Online shipping news | Shipping News Worldwide | Online Daily Newspape

Recent News

Hong Kong's OOCL doubles its revenue in the first quarter

Container line OOCL doubles its revenue in the first three months of the year, as towering demand and capacity shortage made volumes soar on Asia Europe in particular.....

Shipping Watch Published 3y-3w-2h-59m ago

World bank calls LNG a dead end as fuel for shipping

LNG is a risk fraught waste of time as a fuel for shipping, and it will only delay the transition to sustainable fuels, warned the the UK amp 39 s High Level Climate Action Champion at the presentation of an LNG report from the World Bank.....

Shipping Watch Published 3y-3w-4h-1m ago

Italian d'Amico's Dry Cargo business gets new CEO

Shipping group d amp 39 Amico reshuffles the management of its Dry Cargo business and appoints Cesare d amp 39 Amico as new CEO of the business unit. He hopes dry bulk is headed for recovery after years of uncertainty and volatility.....

Shipping Watch Published 3y-3w-4h-26m ago

CMA CGM sticks with LNG despite World Bank's criticism of the fuel

A much discussed report from the World Bank, which dismisses LNG as a fuel option to achieve the IMO amp 39 s 2050 climate target, does not change French CMA CGM amp 39 s plans to launch more LNG fueled container vessels, the company says to ShippingWatch.....

Shipping Watch Published 3y-3w-5h-16m ago

Chinese import "on steroids" results in Baltic Dry Index record

The leading Baltic Dry Index for the dry bulk market is at its highest in 10 years. Most recently, capesize has skyrocketed on an extraordinarily strong Chinese import, according to shipping organization Bimco.....

Shipping Watch Published 3y-3w-5h-47m ago

Torben Carlsen believes in a better 2021 – but passenger numbers still weigh on DFDS

DFDS amp 39 s core markets in the UK and Turkey are doing better than expected, and the company now expects to raise more money from operations this year. Passenger traffic is still the largest uncertainty, and vaccines are crucial, says CEO to ShippingWatch.....

Shipping Watch Published 3y-3w-5h-49m ago

Semco Maritime trims business and ups operating result in tough pandemic year

Revenue at Semco Maritime, which specializes in technical installations on drilling rigs and offshore wind farms, took a small hit in 2020, but the company has succeeded in raising its operating income.....

Shipping Watch Published 3y-3w-7h ago

Singapore yard pulls down Keppel's result in the first quarter

Keppel Offshore amp Marine saw revenue decline in the first quarter, resulting in a bottom line deficit. The shipyard was the only company among Keppel Corporation amp 39 s key businesses that was loss making during the period, according to an update.....

Shipping Watch Published 3y-3w-8h-1m ago

Delayed container vessels are first on the agenda in DHL's talks with carriers

Large container vessels arrive late far too often, which creates challenges for both freight forwarders, shippers and carriers. amp 34 What irritates us all is that freight rates have gone through the roof, while service levels have deteriorated, amp 34 says Dominique von Orelli, CEO of sea frei....

Shipping Watch Published 3y-3w-8h-51m ago

Danish minister regrets carriers' and Maersk's need to scrap vessels outside EU

Capacity at the EU approved recycling yards only sits a 40 percent utilization, while ships are being recycled on beaches in India under poor conditions for both the environment and employees. amp 34 That amp 39 s not okay, amp 34 said Denmark amp 39 s Minister of Environment Thursday.....

Shipping Watch Published 3y-3w-9h-43m ago

Shell challenges World Bank in dispute over future shipping fuel

If global shipping wants to reduce CO2 emissions, shipping companies cannot exclude LNG, states Shell in the heated debate over the controversial fuel, which the World Bank has largely written off.....

Shipping Watch Published 3y-3w-1d-3h-52m ago

Port major DP World got off to a better-than-expected volume start to the year

Port company DP World reports of a strong start to the first months of the year, in which volumes grew across the port major amp 39 s terminals globally.....

Shipping Watch Published 3y-3w-1d-4h-29m ago

MAN sees four potential climate tracks for shipping

MAN Energy Solutions has teamed up with a German university to map out four potential scenarios depending on the track shipping chooses ahead of the IMO amp 39 s 2050 reduction target.....

Shipping Watch Published 3y-3w-1d-4h-31m ago

Shipping leaders agree that collaboration on CO2-reduction trumps competition

Industry players such as BW Group, Danish Maritime Industry and the Maritime and Port Authority of Singapore agree that collaboration on decarbonization trumps competition. Andreas Sohmen Pao describes differing views on LNG as partly a matter of personal philosophy.....

Shipping Watch Published 3y-3w-1d-4h-32m ago

Wärtsilä earns less in the first quarter and sees orderbook shrink

The orderbook shrunk at Wärtsilä, which supplies scrubbers and ballast water treatment systems to the maritime industry. The bottom line also took a dip, but the Finnish company expects higher demand in the near future.....

Shipping Watch Published 3y-3w-1d-6h-2m ago

Euronav says the IMO 2030 target is crucial for climate effort

Belgian tanker carrier Euronav welcomes the US announcement on new climate ambitions for shipping, but the company would like to see an increased focus on the IMO amp 39 s 2030 target, says CEO Hugo de Stoop to ShippingWatch.....

Shipping Watch Published 3y-3w-1d-7h-37m ago

Bottlenecks push record number of containers through Long Beach and LA

Major US ports Long Beach and Los Angeles have handled a record number of containers in the first months of the year, in which bottlenecks and the Covid 19 pandemic has resulted in container queues off the US West Coast.....

Shipping Watch Published 3y-3w-1d-8h-40m ago

Greek shipowners have gained prominence among Hamburg's shipping banks

Greek shipping is a source of stable business for shipping banks in Hamburg, Germany. Greek shipowners are resilient and as important as German clients to banks such as Berenberg and HCOB. After years of hardship, however, German shipowners may be ready for a comeback, banker tells ShippingWatch.....

Shipping Watch Published 3y-3w-1d-9h-41m ago

Avance Gas orders two more newbuilds with dual fuel engines

Avance Gas expands its order of dual fuel newbuilds and now expects to take delivery of a total of six VLGC vessels that can sail on LNG. In addition, the ships will be prepared to sail on ammonia.....

Shipping Watch Published 3y-3w-1d-10h-21m ago

German shipowners say a technological revolution is needed to reach new 2050 goal

Increased efficiency is not enough to achieve the goal of a climate neutral fleet, says German Shipowners amp 39 Association after Wednesday amp 39 s announcement from the US to reduce shipping emissions to zero by 2050. It will require a amp 34 technological revolution amp 34 .....

Shipping Watch Published 3y-3w-1d-11h-28m ago

US stance on CO2 could radically change the IMO's climate agenda

Nordic carriers are positively attuned to the announcement from the White House to make the shipping sector CO2 free by 2050, believing it will change the IMO amp 39 s agenda, while others are more hesitant. Drastic changes are required, they say.....

Shipping Watch Published 3y-3w-2d-4h-10m ago

Equinor reports fewer accidents and personal injuries

Although the Norwegian oil giant Equinor has been criticized for not having a proper handle on safety, new numbers reveal improvements.....

Shipping Watch Published 3y-3w-2d-4h-53m ago

OW Bunker compensation claim suffers another blow

Wednesday: The High Court of Eastern Denmark rejects yet another claim for compensation against, among others, private equity fund Altor and the former management of OW Bunker, reports business daily Børsen.....

Shipping Watch Published 3y-3w-2d-5h-40m ago

BW Group, ONE and Sembcorp invest in new decarbonization center in Singapore

Container carrier ONE, shipyard Sembcorp and the BW group are among the names that have now teamed up to raise money for a new maritime decarbonization center in Singapore in collaboration with the city state amp 39 s port authority. The parties will add USD 90 million to realize the plans.....

Shipping Watch Published 3y-3w-2d-6h-33m ago

EU to define whether shipping can be called sustainable

It will become more difficult for the maritime industry to self govern whether or not the sector can call itself environmentally sustainable. Today, the EU presents a proposal that defines sustainable shipping for companies and investors.....

Shipping Watch Published 3y-3w-2d-7h ago

EU significantly raises 2030 target for CO2 emissions

The EU has reached an agreement to reduce CO2 emissions from 40 percent to at least 55 percent before 2030.....

Shipping Watch Published 3y-3w-2d-8h-24m ago

Credit ratings have seen a rise at several container majors in 2021

Several of the world amp 39 s biggest container lines have seen their credit ratings go up this year. Earnings generated during the coronavirus pandemic have been spent on reducing debt, notes Alphaliner.....

Shipping Watch Published 3y-3w-2d-9h-22m ago

Shipping organizations want world leaders to discuss CO2 tax

A group of shipping organizations, which jointly represent more than 90 percent of the global merchant fleet, now want heads of state to start discussing the implementation of a CO2 tax in the industry.....

Shipping Watch Published 3y-3w-2d-9h-39m ago

US wants to cut shipping's CO2 emissions to zero by 2050

The US wants the global shipping industry to reduce its CO2 emissions to zero by 2050, announces the country amp 39 s special presidential envoy for climate, John Kerry. That target is considerably more ambitious than that of the IMO. See Kerry amp 39 s plan here.....

Shipping Watch Published 3y-3w-2d-11h-26m ago

Maersk sees Suez-related bottlenecks continue into third quarter

In an update to customers, Maersk expects the effects of the Suez blockage to continue into the third quarter. The company is deploying new containers to alleviate the situation.....

Shipping Watch Published 3y-3w-2d-11h-49m ago

Maersk Drilling enters Brazil with new rig agreement

Maersk Drilling lands a new contract in the Brazilian offshore market. The drilling company estimates that the agreement is worth USD 34 million, and the work is set to begin in 2022.....

Shipping Watch Published 3y-3w-3d-4h-18m ago

Sohmen-Pao calls transition to CO2-free fuels "a minefield to navigate"

In a rare interview, Andreas Sohmen Pao unveils some of BW Group amp 39 s considerations about the ongoing climate transition in shipping, which he describes as amp 34 a minefield to navigate amp 34 . He also takes stock of BW amp 39 s many acquisitions over the past year.....

Shipping Watch Published 3y-3w-3d-4h-50m ago

Singapore plans center for decarbonization

The Singapore Port Authority now supports a proposal to establish a center for decarbonization. The center will create a framework through which stakeholders can coordinate and implement solutions that can help reduce CO2 emissions in shipping.....

Shipping Watch Published 3y-3w-3d-5h-26m ago

Record number of dry bulk ships traded in March

The thriving dry bulk market boosted the purchase and sale of ships in the first quarter. In March, a record high number of more than 100 dry bulk ships were sold in one month.....

Shipping Watch Published 3y-3w-3d-6h-33m ago

DHL hones in on its customer portfolio in cleanup during Covid

DHL Global Forwarding has undergone a cleanup, in which poorly matched volumes and customers have been screened out. The decline in seaborne volumes is not related to Covid 19 or even competition from shipping companies, reports the head of ocean freight to ShippingWatch.....

Shipping Watch Published 3y-3w-3d-7h-34m ago

Three French ports merge into new giant – sets aside USD billions for investments

Three French ports of the cities Le Havre, Rouen and Paris now merge into one new giant, to ensure that the ports remain globally competitive in the future. More than USD 1.6 billion will be invested to develop and expand the new port complex.....

Shipping Watch Published 3y-3w-3d-8h-20m ago

Hafnia and BW LPG invest in digital company

Tanker companies Hafnia and BW LPG now invest in Alpha Ori Technologies, which provides digital solutions for shipping. Hafnia CEO Mikael Skov also joins the company amp 39 s board.....

Shipping Watch Published 3y-3w-3d-9h-3m ago

Maersk Drilling, DFDS and Hafnia join project to test fuel cells on methanol

Major companies such as Maersk Drilling, DFDS, Hafnia and Alfa Laval join a project to test fuel cells on methanol. The project is publicly funded and will determine how the cells can help reduce ships amp 39 energy consumption.....

Shipping Watch Published 3y-3w-3d-10h ago

Maersk Supply Service finds new chief commercial officer

Offshore shipping company Maersk Supply Service appoints a new chief commercial officer. He comes from an internal position and is slated to commence in his new role on May 1.....

Shipping Watch Published 3y-3w-3d-11h-48m ago

Oakland tops LA area as waves of ships inundate world's ports

Los Angeles port officials now see progress in reducing their bottleneck situation, but further north in Oakland the queue of ships is growing. Meanwhile, Europe amp 39 s ports are dealing with the Suez blockage fallout.....

Shipping Watch Published 3y-3w-3d-12h-3m ago

Scorpio Tankers wins last year's race on operating margins – 2021 looks tough

Scorpio Tankers wins the earnings race in 2020 within product tanker over competitors Hafnia, Torm, d amp 39 Amico and Ardmore Shipping, shows a ranking prepared for ShippingWatch by Drewry. But a weak end to 2020 has carried over into 2021.....

Shipping Watch Published 3y-3w-4d-3h-42m ago

Hapag-Lloyd and Port of Rotterdam defend LNG as a fuel for shipping

Germany amp 39 s Hapag Lloyd and the Port of Rotterdam tell ShippingWatch that they stand by their commitment to liquefied natural gas, despite the World Bank amp 39 s statement criticizing it as an alternative fuel for shipping.....

Shipping Watch Published 3y-3w-4d-3h-53m ago

"Methane slip has become an overused argument for those wishing to justify inaction"

The battle for and against LNG, and whether the fuel can be labeled a decarbonizing fuel, has now taken off. The World Bank urges nations to cancel investments, while Sea LNG says opponents wish to justify their inaction.....

Shipping Watch Published 3y-3w-4d-4h-2m ago

Yara and partner to install sails aboard Cargill vessel

Suppliers Yara and BAR Technologies join forces to supply sails to commercial vessels. A Cargill ship will be the first to be equipped with the rotor sail technology.....

Shipping Watch Published 3y-3w-4d-4h-55m ago

Maersk, MAN and Total partner up to make the use of ammonia safer

A series of major shipping players like Maersk, MAN Energy Solutions, Total and NYK Line want to develop guidelines for the safe use of ammonia aboard vessels.....

Shipping Watch Published 3y-3w-4d-5h-39m ago

Analyst firm sees historically strong year ahead for dry bulk

Surprisingly high demand and a record low orderbook could result in a amp 34 super cycle amp 34 for the dry bulk market, assesses Cleaves Securities, and points out that dry bulk shares may skyrocket in the coming year.....

Shipping Watch Published 3y-3w-4d-8h ago

Bulk company Falcon sues World Fuel Services over off-spec bunker delivery

Dry bulk company Falcon demands damages from World Fuel Services in a case regarding a fuel delivery to a chartered vessel last year, which exceeded the IMO amp 39 s sulfur limit. amp 34 We are disappointed and feel very poorly treated by World Fuel Services in this case, amp 34 Falcon tells Sh....

Shipping Watch Published 3y-3w-4d-8h-41m ago

Seaspan secures USD 300 million through sustainability-linked bonds

Seaspan has secured USD 300 million through sustainability linked bonds in the Nordic market. This is the second time this year that the shipowner has raised money through sustainable bonds, which are conditional on a number of sustainability targets.....

Shipping Watch Published 3y-3w-4d-9h-27m ago

Suez blockage repercussions will last until June in Europe

The major issues in European ship traffic in the wake of Ever Given amp 39 s blockage of the Suez Canal are expected to last into June, writes analyst firm Sea Intelligence.....

Shipping Watch Published 3y-3w-4d-10h-42m ago

Norway demands compensation after salvage of Dutch ship

Norwegian authorities now demand compensation after the salvage of a Dutch multipurpose ship in the Norwegian Sea. The ship drifted for several days without crew.....

Shipping Watch Published 3y-3w-4d-11h-21m ago

World Bank rejects LNG as usable fuel to reach climate goal by 2050

In a new statement, the World Bank rejects liquefied natural gas, LNG, as a usable ship fuel to reduce CO2 emissions in shipping and meet the IMO amp 39 s climate targets by 2050. Instead, the bank points to ammonia and hydrogen.....

Shipping Watch Published 3y-4w-3h-50m ago

Shipping majors bet on different paths in decarbonizing shipping

Hydrogen, LNG, ammonia, electricity and then there is methanol and LPG – the bids are many and so are the answers when you ask big shipping companies such as Maersk, Ardmore, Exmar and Shell about the fuel solution of the future. What they do agree on, however, is that the time to act is now.....

Shipping Watch Published 3y-4w-4h-23m ago

Asia sees drop in pirate attacks in first months of the year

The number of pirate attacks in Asia dropped drastically in the first months of the year. But a concerning number of incidents still take place in the Singapore Strait, writes organization Recaap in a quarterly update.....

Shipping Watch Published 3y-4w-5h-15m ago

Engineer sentenced to prison for cocaine find on MSC ship

Following the discovery of 20 tonnes of cocaine aboard one of MSC amp 39 s container vessels in 2019, eight of the ship amp 39 s crew members have pleaded guilty. Most recently, the ship amp 39 s engineer has been sentenced to several years in prison.....

Shipping Watch Published 3y-4w-5h-59m ago

Crisis-stricken Prosafe to pay USD 55 million to shipyard after lost lawsuit

Norwegian hotel rig supplier Prosafe has been sentenced to pay approximately USD 55 million in a case regarding the rebuilding of a hotel rig. The sentence opposes a verdict made in the case in 2018 and is amp 34 extremely disappointing and surprising, amp 34 says  CEO.....

Shipping Watch Published 3y-4w-6h-30m ago

Berenberg eyes "huge gap" in German ship financing

German bank Berenberg sees a amp 34 huge need amp 34 for German ship financing, and the bank amp 39 s shipping activities are growing, reports Philipp Wünschmann, head of shipping at Berenberg, to ShippingWatch.....

Shipping Watch Published 3y-4w-7h-30m ago

Monjasa wants to climb the list of the world's biggest bunker companies

Monjasa is currently the world amp 39 s sixth largest bunker supplier, and the company plans to climb further, says COO Svend Mølholt to ShippingWatch. West Africa is no longer the company amp 39 s biggest market, amp 34 but we amp 39 re there for the long haul, amp 34 he says.....

Shipping Watch Published 3y-4w-9h-9m ago

DP World demands damages in port dispute

Port company DP World demands USD 210 million in compensation from the state of Djibouti in a dispute regarding the nationalization of a port terminal. The compensation will cover losses from 2018 to 2020.....

Shipping Watch Published 3y-4w-9h-16m ago

Wallenius-owned company launches first of three battery-powered vessels

UECC, owned by NYK and Wallenius Lines, has launched the first of three battery hybrid vessels. The vessels were ordered in 2019 and the last two are scheduled for delivery next year.....

Shipping Watch Published 3y-4w-11h-14m ago

Svitzer moves regional headquarter to Panama

Maersk owned towage operator Svitzer moves one of its regional headquarters, which will now be located in Panama. amp 34 We see significant growth potential in the region, amp 34 says managing director of the Americas.....

Shipping Watch Published 3y-4w-11h-56m ago

Trafigura invests in development of MAN's ammonia engine

Trafigura joins a project to develop an ammonia powered engine, headed by MAN Energy Solutions. The engine, developed for large ocean going vessels, is expected to hit the market in 2025.....

Shipping Watch Published 3y-4w-1d-3h-58m ago

Oldendorff thinks IMO's carbon calculator is cause for a great deal of confusion

The world amp 39 s biggest dry bulk operator, Germany amp 39 s Oldendorff, thinks the IMO amp 39 s upcoming CO2 regulations for how to measure an individual ship amp 39 s efficiency are incoherent, incomprehensible and cause for a great deal of confusion. And Oldendorff is not alone in that opin....

Shipping Watch Published 3y-4w-1d-4h-12m ago

Hapag-Lloyd warns customers that bookings could get canceled

The blockage of the Suez Canal, which lasted just under a week, continues to cause problems for global container traffic. German shipping company Hapag Lloyd warns customers that export bookings could get canceled due to a shortage of containers.....

Shipping Watch Published 3y-4w-1d-4h-56m ago

DNB sees investors take an increased interest in shipping

If you ask DNB amp 39 s Global Head of Shipping, Christos Tsakonas, the last 12 months have been good for the sector as investors have started taking an interest in the shipping sector again. But another topic steals his focus and time at the moment – the energy transition.....

Shipping Watch Published 3y-4w-1d-5h-38m ago

15 kidnapped seafarers from De Poli chemical tanker in Gulf of Guinea are now released

After a month in captivity, 15 seafarers kidnapped by pirates in the Gulf of Guinea in mid March have now been released, informs a spokesperson from De Poli Tankers to ShippingWatch. It is the second major kidnapping incident in the area.....

Shipping Watch Published 3y-4w-1d-6h-48m ago

Maersk Tankers divests six product tankers

Product tanker carrier Maersk Tankers has entered agreements to sell six newer tankers.....

Shipping Watch Published 3y-4w-1d-8h-16m ago

Wärtsilä writes off one of the future fuels – hydrogen will play a "niche role"

Finnish manufacturer Wärtsilä now joins a group of players that do not believe hydrogen will become a widespread marine fuel in the future. amp 34 It amp 39 s hard to believe that it would be a credible choice for shipping, amp 34 says director of R amp D in an interview with ShippingWatch.....

Shipping Watch Published 3y-4w-1d-8h-55m ago

Seadrill enters settlement with subsidiary after dispute

Seadrill now enters a settlement with subsidiary Seadrill Partners after the two companies ended in a dispute last year. The agreement includes, among other things, a payment of more than USD 11 million to Seadrill.....

Shipping Watch Published 3y-4w-1d-9h-25m ago

Investor Blue Ocean Capital expects further consolidation in European ports

Blue Ocean Capital, investor in port infrastructure, sees a strong start to 2021 for the purchase and sale of ports and terminals, with expectations of further consolidation in Europe this year. However, bottlenecks and increasing unpredictability is a concern, says Managing Partner of the private e....

Shipping Watch Published 3y-4w-1d-10h ago

Panama Canal postpones price increases after letter of concern

It will not become more expensive to pass through the canal, states the Panama Canal Authority shortly after new charges were supposed to take effect. The last minute change of plans follow a letter of concern from several organizations.....

Shipping Watch Published 3y-4w-1d-11h-42m ago

Almost half of all pirate attacks take place in Gulf of Guinea

The majority of pirate attacks are still happening in the Gulf of Guinea, estimates the IMB with the release of new numbers on attacks that have been reported in 2021. The total number of pirate attacks is decreasing.....

Shipping Watch Published 3y-4w-1d-12h-6m ago

Ship management firm predicts growing political pressure to achieve climate goals before 2050

The shipping industry can expect growing political pressure to reach the climate goal of at least halving CO2 emissions before 2050, states CEO of Columbia Shipmanagement at Capital Link.....

Shipping Watch Published 3y-1mo-3h-42m ago

Evergreen affirms authority's million-dollar claim and calls it "unsubstantiated"

The claim for compensation from the Suez Canal Authority is largely amp 34 unsubstantiated, amp 34 says shipping company Evergreen, which hereby confirms the claim of USD 916 million. The parties have not yet reached an agreement.....

Shipping Watch Published 3y-1mo-4h-28m ago

Supercharged container market rubs off on Pacific Basin's bulk rates – at decade-high

Hong Kong based Pacific Basin holds high expectations for the dry bulk market in coming years. The overheated container market contributes to demand surge, says CEO Mats Berglund.....

Shipping Watch Published 3y-1mo-5h-5m ago

IEA upgrades outlook for global oil consumption

The agency amp 39 s forecast gets a particular boost from strong economic prognoses for both the US and China.....

Shipping Watch Published 3y-1mo-5h-43m ago

Hapag-Lloyd places major order for new containers

Container line Hapag Lloyd is trying to mitigate the current market wide shortage of containers and thus places one of its biggest ever orders for new containers.....

Shipping Watch Published 3y-1mo-6h-14m ago

Hitecvision-owned venture to bet on offshore wind

Moreld, owned by equity fund Hitecvision, establishes a new venture within offshore wind. The company aims for a huge million dollar profit within five years.....

Shipping Watch Published 3y-1mo-7h-17m ago

Panama Canal raises booking fees

The Panama Canal Authority now raises the booking fee, making it more expensive for ships to pass through the canal. The price of several other services will be raised as well.....

Shipping Watch Published 3y-1mo-8h-7m ago

Ever Given's shipmanager hopes to avoid negative fallout from Suez accident

Ever Given amp 39 s ship manager, Bernhard Schulte Shipmanagement, does not expect to be made liable for the incident in the Suez Canal, but is nevertheless worried that the company amp 39 s reputation could be at risk, CEO tells ShippingWatch.....

Shipping Watch Published 3y-1mo-9h-5m ago

The IMO to expand council by 12 additional member states

The UN amp 39 s maritime organization, the IMO, is planning to expand the council in charge of strategy and budget with the addition of 12 member states. Further decisions will be made at the IMO General Assembly in December.....

Shipping Watch Published 3y-1mo-9h-31m ago

Maersk's position as world's largest is coming to an end

An era may come to an end as early as next year for Maersk, as competitor and alliance partner MSC, with Søren Toft at the helm, looks set to become the world amp 39 s largest container line.....

Shipping Watch Published 3y-1mo-9h-56m ago

Danish Maritime Authority turns case about Norden's false logbooks over to the police

The case concerning Norden amp 39 s fabricated, false logbooks, aimed at covering up voyages to Israel, has now been turned over to Danish police, informs the Danish Maritime Authority.....

Shipping Watch Published 3y-1mo-12h-8m ago

Greek alliance with environmental NGO on carbon quotas attracts attention

Shipping companies and organizations are surprised to see that the Greek Shipowners amp 39 Association, in alliance with environmental NGO Transport amp Environment, has become an advocate for far reaching CO2 quotas. The timing, in particular, triggers irritation.....

Shipping Watch Published 3y-1mo-1d-3h-42m ago

Egypt to seize Suez ship Ever Given pending USD 900 million compensation

The Suez Canal Authority has received the go ahead by a court in Egypt to seize container ship Ever Given. The canal authority is seeking USD 900 million in damages following the six day blockage of the waterway when Ever Given ran aground.....

Shipping Watch Published 3y-1mo-1d-3h-49m ago

Language changes in job postings to attract more women at Odfjell

Chemical tanker carrier Odfjell has found that easy to miss details in job postings can be crucial in getting more women to apply. Which details, you ask The language.....

Shipping Watch Published 3y-1mo-1d-4h-34m ago

Turkey proposes ban against the use of open-loop scrubbers

It should no longer be permitted for ships sailing in Turkey to discharge their open loop scrubber wash water into the sea. The country plans to ban the technology, but the decision is met with criticism from Clean Shipping Alliance.....

Shipping Watch Published 3y-1mo-1d-5h-45m ago

Monjasa lifts bunker sales to record levels in 2020

Bunker volumes ended at a record level for Monjasa in 2020, in which profit climbed to USD 31 million. Improvements in several regions make up for a volume drop in West Africa.....

Shipping Watch Published 3y-1mo-1d-6h-18m ago

Lauritzen Bulkers: Operators and the climate are in a tight spot

Who is responsible if a ship gets a poor CO2 rating Carbon quotas, efficiency requirements for vessels imposed by the IMO and CO2 emissions raise more questions than answers, says CEO of Lauritzen Bulkers to ShippingWatch.....

Shipping Watch Published 3y-1mo-1d-7h-8m ago

Eimskip books operational profit in the first quarter

Icelandic shipping line Eimskip achieved an operating profit of EUR 2.2 3.2 million in the first quarter, show preliminary fiscal figures. The result is an improvement from the same period last year, which ended in a deficit.....

Shipping Watch Published 3y-1mo-1d-7h-52m ago

Former Hamburg Süd CEO takes over as chief executive of the Offen Group

Former Hamburg Süd chief executive, Arnt Vespermann, takes over the helm of the Offen Group from next year, report several media. He takes over from founder Claus Peter Offen, who will continue as chairman of a newly established supervisory board.....

Shipping Watch Published 3y-1mo-1d-9h-9m ago

BW-dominated Navigator Gas takes over Ultragas in billion-dollar trade

BW dominated Navigator Gas buys Chilean owned Ultragas in a share transaction totaling USD 400 million. The acquisition results in a player with over 56 LPG vessels.....

Shipping Watch Published 3y-1mo-1d-9h-45m ago

Fredriksen ups his stake in Avance Gas after private placement

John Fredriksen now ups his ownership stake in Avance Gas. The company just raised more than half a billion NOK to finance newbuilds.....

Shipping Watch Published 3y-1mo-1d-10h-59m ago

Unexpected alliance between shipowners and NGO wants expanded EU CO2 quota system

An unexpected alliance between Greek shipowners and an environmental NGO want EU amp 39 s CO2 quota system ETS to be more far reaching. There should be no free CO2 quotas, and the ETS system must cover more than the EU, says T amp E to ShippingWatch.....

Shipping Watch Published 3y-1mo-2d-3h-43m ago

Lloyd's Register says IMO's new CO2 calculator penalizes efficiency

IMO amp 39 s upcoming CO2 regulation for how to measure a ship amp 39 s efficiency has become so politically sensitive that some classification societies decline to even comment on them. Meanwhile, Lloyd amp 39 s Register does not hide the fact that there are difficulties with the AER calculator.....

Shipping Watch Published 3y-1mo-2d-4h-6m ago

MPC Container Ships raises expectations for 2021

The upturn in the container market has been shown to continue, and this prompts MPC Container Ships to raise its earnings expectations for the current year. So far, the share price is up 75 percent this year.....

Shipping Watch Published 3y-1mo-2d-5h-13m ago

Euronav secures new sustainability-linked loan

Belgian tanker carrier Euronav raises millions of euros through a new credit facility tied to several climate targets. Euronav thus joins a group that already counts players such as Hapag Lloyd and Hafnia.....

Shipping Watch Published 3y-1mo-2d-7h-4m ago

Oldendorff ship attempted robbed in Singapore Strait

Ships from Oldendorff, Melodia Maritime and Kyla Shipping were attempted robbed in the Singapore Strait over the weekend. This year alone, ten incidents have taken place, reports security firm Recaap ICS.....

Shipping Watch Published 3y-1mo-2d-7h-38m ago

CMA CGM proposes plan to rebuild Beirut's port within three years

French container carrier CMA CGM has, according to Reuters, proposed a plan to rebuild Beirut amp 39 s port within three years after an massive explosion caused extensive damage last year.....

Shipping Watch Published 3y-1mo-2d-8h-37m ago

Navigare Capital Partners is looking for new investors for shipping fund

Navigare Capital Partners, with Robert Mærsk Uggla as majority owner, is looking to raise new capital for its shipping fund. Both Danish and international investors could come into play, managing partner Henrik Ramskov tells ShippingWatch.....

Shipping Watch Published 3y-1mo-2d-9h-29m ago

DNV foresees upcoming "wave" of newbuilds in shipping

Norwegian DNV expects growth in 2021 after a decline in 2020 due to the Covid 19 pandemic. The company forecasts an impending wave of newbuilds from the maritime sector. amp 34 The only question is when, amp 34 CFO says to ShippingWatch.....

Shipping Watch Published 3y-1mo-2d-10h-21m ago

Container congestion has at best stabilized at a "high plateau"

The congestion problems in terminals throughout both Europe and North America show no signs of material improvement, says Seaintelligence.....

Shipping Watch Published 3y-1mo-2d-11h-14m ago

DHL headed towards best first quarter ever

DHL presents preliminary figures for its first quarter, which is shaping up to be the best ever. Freight forwarding business Global Forwarding also performs much better than last year. CEO takes note of growing sea freight volumes.....

Shipping Watch Published 3y-1mo-2d-12h ago

Camilla is what the shipping world wants to attract more of

Camilla Vambeseth is second mate on a chemical tanker and believes that the environment on board would benefit from more women at sea. For her, the 180 meter long ship is the ideal work place.....

Shipping Watch Published 3y-1mo-5d-3h-59m ago

Scan Global buys Spanish logistics company

Danish freight forwarder Scan Global Logistics continues to grow and now buys yet another company – this time a Spanish, family owned business.....

Shipping Watch Published 3y-1mo-5d-4h-4m ago

Few newbuild orders and ship sales benefit European shortsea market

Rates are on the climb in the European shortsea market. Among the reasons are the low number of newbuild orders as well as ship sales to other markets limiting supply, writes shipbroker Toepfer in a new report.....

Shipping Watch Published 3y-1mo-5d-4h-18m ago

DFDS perceives CO2 quotas as a new currency that can be traded

European shipping emits 140 million tonnes of CO2 annually. But the bill for reducing the harmful emissions or eliminate them entirely with the EU amp 39 s new CO2 quotas could be huge.....

Shipping Watch Published 3y-1mo-5d-4h-39m ago

36 carriers reported to the police by Denmark's EPA for emitting too much sulfur

36 shipping companies have been reported to Danish police in the past five years because one of their vessels were violating the Danish sulfur directive by emitting too much sulfur. 17 shipping companies have been fined. It is a serious matter, says the Danish Environmental Protection Agency.....

Shipping Watch Published 3y-1mo-5d-6h-29m ago

Sohmen-Pao will soon chair three Danish shipping companies

First it was Hafnia. Then a few months ago it was BW Epic Kosan. And now wind carrier Cadeler also adds Andreas Sohmen Pao as chairman of the board. The appointment is a seal of approval, says Cadeler CEO Mikkel Gleerup.....

Shipping Watch Published 3y-1mo-5d-8h-3m ago

Hapag-Lloyd CEO expects container market congestion to last until third quarter

In the wake of Ever Given blocking the Suez Canal for close to a week, Hapag Lloyd CEO Rolf Habben Jansen expects the market to experience congestion until the third quarter.....

Shipping Watch Published 3y-1mo-5d-8h-41m ago

Coal dispute between China and Australia alters trade patterns in dry bulk

China amp 39 s refusal to accept Australian coal means that other countries are now exporting coal to the major dry bulk nation. One such country is South Africa, which now ships coal to China for the first time in years. But the situation does not significantly change carriers amp 39 demand, not....

Shipping Watch Published 3y-1mo-5d-9h-41m ago

CMA CGM launches first bio-fueled service

French container line CMA CGM plans to launch a service running purely on biomethane in May. The service needs 12,000 tonnes of biomethane, which should be enough to operate two 1,400 teu vessels for one year, writes the group.....

Shipping Watch Published 3y-1mo-5d-11h-34m ago

Digitization softened the top line blow at DNV

Rapid digitization of inspections, surveys and other activities sustained classification company DNV amp 39 s business in 2020, despite the more challenging working conditions due coronavirus related restrictions.....

Shipping Watch Published 3y-1mo-5d-11h-52m ago

Maersk opens for short-term bookings again after Suez blockage

The container market continues to be affected by the week long traffic jam in the Suez Canal, which has further exacerbated container ship delays and pressure on ports. But the situation is now improved, and Maersk thus opens for short term and Spot bookings again.....

Shipping Watch Published 3y-1mo-6d-3h-48m ago

Maersk Drilling's share price doubled in 2021: "We've surpassed our competitors"

Maersk Drilling amp 39 s share price has, so far, nearly doubled in 2021 after it almost bottomed out in 2020, a year that pressured the already strained drilling industry. Low debt positions the company better than its competitors, said chairman Claus Hemmingsen during the company amp 39 s genera....

Shipping Watch Published 3y-1mo-6d-4h-3m ago

Golden Ocean and Odfjell work towards new CO2 rules, without knowing what they entail

Although the upcoming climate requirements for shipping still remain unclear, including how to measure the efficiency of a ship, shipping majors such as Odfjell and Golden Ocean are well on their way to prep their fleets for the upcoming regulations, they tell ShippingWatch.....

Shipping Watch Published 3y-1mo-6d-4h-31m ago

Stena Bulk aims for climate neutrality by 2050

Swedish tanker shipping company Stena Bulk sets out five targets aimed at making the company climate neutral by 2050. Next year, Stena Bulk will launch its first vessel capable of running on methanol.....

Shipping Watch Published 3y-1mo-6d-5h-53m ago

Soft product tanker market pressures rates at Stolt Tankers

The start to 2021 proved challenging for Stolt Nielsen amp 39 s chemical tanker carrier, Stolt Tankers. According to chief executive, rates and earnings were strained due to product tanker carriers bidding on chemical tanker cargoes. Most recently, the Suez Canal blockage has caused delays.....

Shipping Watch Published 3y-1mo-6d-7h-39m ago

Everfuel signs MoU to supply hydrogen for zero-emission shipping

Hydrogen company Everfuel has entered a Memorandum of Understanding with an unnamed Norwegian German carrier to supply zero emission hydrogen for the company amp 39 s ships from 2023. The fuel will be delivered from a hydrogen plant in Denmark.....

Shipping Watch Published 3y-1mo-6d-8h-14m ago

DSV is 800,000 containers short of what it expected from Panalpina acquisition

When DSV acquired Panalpina, CEO Jens Bjørn Andersen proclaimed that the joint company would carry 3 million containers annually. Last year, however, freight volumes ended almost 1 million containers below this prediction. Earnings amp 34 weigh the heaviest, amp 34 says EVP, while stating sever....

Shipping Watch Published 3y-1mo-6d-8h-55m ago

MAN to develop ammonia-powered engine through new project

A new project, counting MAN Energy Solutions, among others, aims to develop ammonia powered engines over the next three years. The project is in line with MAN amp 39 s own plans to be able to supply ammonia engines by 2024 at the latest.....

Shipping Watch Published 3y-1mo-6d-9h-25m ago

Salvage crew has gained control of ship in the Norwegian Sea

Salvage crew has gained control of the Dutch multipurpose ship in the Norwegian Sea, writes NRK. The ship is now on its way to Ålesund.....

Shipping Watch Published 3y-1mo-6d-11h-37m ago

Maersk Training sees massive loss in the year of Covid-19

2020 presented yet another challenge for Maersk Training, already struggling with deficits like several others in the offshore sector. Travel bans and shutdowns caused by the Covid 19 pandemic knocked the company back to an amp 34 unsatisfactory amp 34 level.....

Shipping Watch Published 3y-1mo-6d-11h-57m ago

Authorities in Suez Canal discuss compensation with Ever Given's owner

Authorities in the Suez Canal are negotiating financial compensation with Japanese Shoei Kisen Kaisha for possible damage caused by megaship Ever Given throughout the nearly seven day blockage of the Suez Canal, writes the Associated Press.....

Shipping Watch Published 3y-1mo-1w-3h-51m ago

Salvage specialists are trying to save listing multipurpose ship off Norway

Two Dutch tugboats are currently working to salvage a multipurpose vessel that has been drifting around unmanned in the Norwegian Sea since Monday. The vessel currently risks sinking.....

Shipping Watch Published 3y-1mo-1w-3h-54m ago

Platform backed by Maersk, MAN and Norden aims to increase supply of green fuel

The supply of sustainable fuels must be increased, and this has led players such as Norden, Maersk and MAN to support a new platform where producers can get feedback on developments. The platform is fund supported and will be free of charge.....

Shipping Watch Published 3y-1mo-1w-4h-47m ago

Commodity shipping rates are surging and the rally is not over

The quick yet uneven recovery from the coronavirus pandemic continues to cause rising demand and soaring rates in bulk freight.....

Shipping Watch Published 3y-1mo-1w-6h-19m ago

Lightship Chartering enters offshore with new business leg

Lightship Chartering steps into a brand new segment from its office in Dubai, the shipbroker amp 39 s CEO Sune Fladberg tells ShippingWatch. And the company is also looking to return to tanker after several of the company amp 39 s tanker brokers departed last year.....

Shipping Watch Published 3y-1mo-1w-7h-11m ago

The nine largest container carriers tripled earnings in 2020

Maersk and eight other container carriers tripled their earnings last year to USD 15.1 billion compared to the previous year, writes Alphaliner.....

Shipping Watch Published 3y-1mo-1w-8h-31m ago

More than half of vessels in the global fleet contain asbestos

Asbestos can be found aboard most vessels in the global merchant fleet despite rules banning the harmful material, writes maritime testing agency in a new report. This places shipowners in a difficult position.....

Shipping Watch Published 3y-1mo-1w-9h-26m ago

Container majors agree on standardized digital tracking

Container lines such as ONE, MSC, CMA CGM and more have now adopted joint standards for digital container tracking through organization DCSA, which works for digitization and standardization in the container industry.....

Shipping Watch Published 3y-1mo-1w-10h-28m ago

Former APL Chief Exec Lars Kastrup becomes new co-president of PIL

Lars Kastrup, former CEO of container line APL, has been appointed co president of Singapore based PIL, the container line confirms after ShippingWatch learned of the appointment earlier Wednesday. The co presidents also join the company amp 39 s board. Updated.....

Shipping Watch Published 3y-1mo-1w-11h-15m ago

Red-hot container market pushes multipurpose rates to pre-Covid levels

Multipurpose carriers currently benefit from the fact that several customers from the red hot container market have opted to use multipurpose vessels to transport their cargoes, shows report.....

Shipping Watch Published 3y-1mo-1w-11h-46m ago

Seaspan Corporation projects strong market ahead of 2024

The many orders placed recently by the world amp 39 s biggest shipowner, Seaspan, are an expression of a colossal confidence in the current market, COO Torsten Holst Pedersen explains in an interview with ShippingWatch. He rejects the criticism of LNG, put forward by, among others, Maersk.....

Shipping Watch Published 3y-1mo-1w-1d-3h-51m ago

IMF boosts global growth forecast, warns of diverging rebound

The International Monetary Fund now upgrades its global economic growth forecast for the second time in three months. As such, the IMF now expects the global economy to expand 6 percent this year.....

Shipping Watch Published 3y-1mo-1w-1d-4h-30m ago

Oldendorff's fleet climbs to 750 vessels after new purchases

With the purchase of four new vessels, bulk carrier Oldendorff now has a total fleet of 750 vessels.....

Shipping Watch Published 3y-1mo-1w-1d-4h-37m ago

Rising production from oil countries could increase pressured VLCC rates

Reports of increasing oil production from OPEC+ bring good news to tanker companies, estimates Clarksons. After a difficult 2021, the broker expects to see significantly higher tanker rates towards the end of the year.....

Shipping Watch Published 3y-1mo-1w-1d-5h-36m ago

Hempel acquires Australian coatings manufacturer

Hempel amp 39 s plan to reach a revenue of EUR 3 billion by 2025 now leads the coatings manufacturer to acquire an Australian company with 750 employees. amp 34 We have taken the first major step on our growth journey, amp 34 says chief executive.....

Shipping Watch Published 3y-1mo-1w-1d-7h-6m ago

Sohmen-Pao set to become new chairman of wind carrier Cadeler

Andreas Sohmen Pao is set to become the new chairman of offshore wind carrier Cadeler. BW Group is in preliminary discussions about acquiring a larger stake in the company, which expects to see results improve this year on the heels of an eventful 2020.....

Shipping Watch Published 3y-1mo-1w-1d-7h-49m ago

Seaspan expands fleet with two new container vessels

Major shipowner Seaspan once again adds new ships to the portfolio. This time, the company takes over two new container vessels.....

Shipping Watch Published 3y-1mo-1w-1d-8h-16m ago

Wedell-Wedellsborg and Sohmen-Pao invest in new dry bulk platform

With the backing of two new investors, BW Dry Cargo ceases to exist as a dry bulk operator and re emerges as a platform that aims to connect customers and shipowners. Each ship must pass a amp 34 green test amp 34 .....

Shipping Watch Published 3y-1mo-1w-1d-9h-36m ago

Seadrill plans to shave large chunk off debt in restructuring

Hard pressed Seadrill has requested a bank debt reduction of just over USD 4.8 billion, writes Finansavisen.....

Shipping Watch Published 3y-1mo-1w-1d-10h-4m ago

Maersk warns customers of Suez effect in other parts of the network

Although the queue of ships in the Suez Canal has been resolved, the effects are far from over. They are spreading to other parts of the network, Maersk informs customers. The investigation of Ever Given is well underway.....

Shipping Watch Published 3y-1mo-1w-1d-11h-28m ago

ShippingWatch closed for Easter

ShippingWatch will be closed for the Easter Holidays. We will be back on Tuesday, April 6th.....

Shipping Watch Published 3y-1mo-2w-4h-23m ago

Merger of International Seaways and Diamond S creates huge tanker company

International Seaways and Diamond S have agreed on a merger that will create the second largest tanker company in the US after Scorpio Tankers, with a market value of USD 2 billion and a fleet of 100 vessels.....

Shipping Watch Published 3y-1mo-2w-4h-44m ago

DSV after Suez blockage: "We’re facing a very unpredictable freight market"

DSV Panalpina, one of the largest logistics companies in the world, is working hard to respond to inquiries from clients asking for updates on their container transport. amp 34 We amp 39 re facing a very unpredictable freight market, and no one knows exactly how this will unfold in the coming wee....

Shipping Watch Published 3y-1mo-2w-5h-35m ago

Federal Maritime Commission appoints new Chairman

The US Federal Maritime Commission has appointed a new chairman. He is a former congressman and will take charge of the commission at a time when the container market is red hot and causing congestion in US ports.....

Shipping Watch Published 3y-1mo-2w-6h-1m ago

Strong container market leads ONE owner to raise forecast

Container carrier ONE has benefited from better market conditions than expected in 2020, prompting K Line, one of the company’s owners, to raise expectations for the forthcoming annual results.....

Shipping Watch Published 3y-1mo-2w-6h-16m ago

PIL has completed large-scale restructuring

Container carrier PIL has carried out a large scale restructuring and received substantial cash injections. The company is now amp 34 well positioned amp 34 for growth, says chair of PIL.....

Shipping Watch Published 3y-1mo-2w-6h-43m ago

Blue Water Shipping plans to replace Kazakh cash cow with multiple revenue streams

After turning a record profit last year, Danish logistics company Blue Water Shipping expects a significantly lower profit in 2021. Growth must come from multiple smaller high value contracts going forward, says CEO Søren Nørgaard Thomsen in an interview with ShippingWatch.....

Shipping Watch Published 3y-1mo-2w-7h-34m ago

The Höegh family buys all stocks in Höegh LNG and delists the company

The Höegh family and funds controlled by Morgan Stanley received enough votes at the general meeting to buy all stocks and now delists the company from stock exchange.....

Shipping Watch Published 3y-1mo-2w-8h-11m ago

Ørsted to build one of the world's largest hydrogen plants

Ørsted has announced plans to develop a huge hydrogen production plant in the Netherlands by 2030. The plant will supply the area with the alternative fuel, which is predicted to play an important role in the green transformation of the shipping sector.....

Shipping Watch Published 3y-1mo-2w-8h-29m ago

Hin Leong founder set to face another 23 charges of forgery

OK Lim, the founder of scandal ridden Hin Leong group in Singapore, can now be met with a further 23 charges of forgery. The charges are expected to be processed in April, writes media.....

Shipping Watch Published 3y-1mo-2w-9h-21m ago

Suez crisis prompts Maersk to temporarily shut down short-term contracts

In the wake of the Suez crisis, Maersk is temporarily shutting down short term bookings and Spot bookings in a large number of key areas, including all exports from Asia and Europe, due to an expected dip in capacity.....

Shipping Watch Published 3y-1mo-2w-10h-42m ago

Shippers say the EU disregards container carriers' poor service

Customers of container carriers have urged the European Commission to take action against liner companies amp 39 high rates and poor service. After yet another unsuccessful meeting with the EU competition authorities, shippers are now proposing a new arrangement to ensure amp 34 ethical cooperat....

Shipping Watch Published 3y-1mo-2w-1d-4h-6m ago

Maersk says capacity could drop up to 30 percent in coming weeks

The build up of ships waiting at the just reopened Suez Canal could trigger a capacity plunge of up to 30 percent in the comings weeks, says Maersk. Container lines and analysts project weeks and months of turmoil in the container sector.....

Shipping Watch Published 3y-1mo-2w-1d-4h-12m ago

Navigare Logistics and Mosvold to build carrier with zero-carbon fleet

Navigare Logistics, Amon Maritime and Mosvold Shipping have joined forces to set up a carrier with zero carbon dry bulk vessels powered by green ammonia.....

Shipping Watch Published 3y-1mo-2w-1d-4h-16m ago

Biden administration to multiply offshore wind capacity by 2030

US President Joe Biden and his administration target a total installed offshore wind capacity of 30 GW in the country by 2030, reports Bloomberg News.....

Shipping Watch Published 3y-1mo-2w-1d-5h-8m ago

Celsius Shipping confirms purchase of two MR newbuilds

Shipowner Celsius Shipping buys two new MR tankers currently under construction in China, confirms Chairman Jeppe Jensen to ShippingWatch. The ships are expected delivered this summer.....

Shipping Watch Published 3y-1mo-2w-1d-5h-9m ago

Ultrabulk books deficit despite expectations of profit in 2020

The challenges on the dry bulk market led to a deficit for Ultrabulk, contrary to expectations. The revenue also took a small blow, resulting in a amp 34 disappointing result amp 34 , according to the company’s CEO.....

Shipping Watch Published 3y-1mo-2w-1d-5h-39m ago

Maersk appoints chief technology officer as new member of Executive Board

Maersk is expanding its senior management team and welcoming Chief Technology amp Information Officer Navneet Kapoor to the group’s Executive Board, a clear sign of the increased significance of technology for the company going forward, states Maersk CEO Søren Skou.....

Shipping Watch Published 3y-1mo-2w-1d-7h-7m ago

Depreciations in Lauritzen Foundation lead to major loss in 2020

Lauritzen Foundation, owner of J. Lauritzen and 43 percent of DFDS, lost DKK 574 million last year due to significant write downs of the fleet. The foundation amp 39 s CEO Tommy Thomsen is hopeful for the future after a difficult 2020, he tells ShippingWatch.....

Shipping Watch Published 3y-1mo-2w-1d-7h-31m ago

DFDS to face new competitor on English Channel routes

Irish Ferries, the largest ferry operator between the UK and Ireland, is expanding with an English Channel route between Dover and Calais. For the first time since 2015, DFDS and P amp O Ferries will have a new competitor on this stretch.....

Shipping Watch Published 3y-1mo-2w-1d-8h-13m ago

Hamburg politician and pilots call for local safety measures after Suez incident

Alderman for the pilots on the Elbe in Germany calls for stricter safety requirements in the heavily trafficked port of Hamburg after the dramatic grounding in the Suez Canal. Politicians support the call.....

Shipping Watch Published 3y-1mo-2w-1d-8h-13m ago

Complicated claims in the wake of the Suez blockage

Norwegian shipping lawyers Simonsen Vogt Wiig describes the blockage of the Suez Canal as a unique event and expects amp 34 huge claims amp 34 for compensation. ShippingWatch has interviewed lawyer Torgeir Willumsen about the legal aftermath.....

Shipping Watch Published 3y-1mo-2w-1d-9h-29m ago

Queues in Suez may have repercussions on container market for up to three months

Once the queues of more than 360 ships in the Suez Canal are dissolved, the container market will be hit by repercussions for 2 3 months, estimates a shipping analyst, who predicts a tug of war between carriers and shippers on rate surcharges due to increased costs.....

Shipping Watch Published 3y-1mo-2w-2d-3h-46m ago

Digital shipping exchange grew big-time in 2020

The New York Shipping Exchange, a digital exchange for entering binding contracts, has grown by 200 percent during 2020. Among other things, the many uncertainties of the past year have generated interest in easy, reliable and secure contracts, the company states.....

Shipping Watch Published 3y-1mo-2w-2d-4h-18m ago

Eagle Bulk sets sights on more ships following multiple acquisitions

Ship operator Eagle Bulk plans to continue expanding and renewing its fleet, CEO Gary Vogel tells ShippingWatch following the acquisition of a number of ships. A record low order book, caused by environmental regulations and the prospects of a prolonged upward cycle, makes the CEO optimistic.....

Shipping Watch Published 3y-1mo-2w-2d-6h-10m ago

USTC Group buys another company

The Denmark based USTC Group buys another company as part of the group amp 39 s digitization work. The acquisition is taking place shortly after the USTC Group took over the majority of trading company CM Biomass.....

Shipping Watch Published 3y-1mo-2w-2d-6h-15m ago

Paolo d'Amico highlights two crucial factors for the product tanker market

After a dreadful start to 2021, the product tanker market is now bottoming out, if you ask Paolo d amp 39 Amico, Executive Chairman of the Italien d amp 39 Amico Group. Two aspects will be vital for the recovery of the struggling market, he tells ShippingWatch.....

Shipping Watch Published 3y-1mo-2w-2d-7h-5m ago

Maersk estimates Suez clean-up will take at least six days

Maersk estimates that the clean up of the Suez Canal will take at least six days, the shipping company tells ShippingWatch. The current situation will likely have far reaching consequences for container traffic.....

Shipping Watch Published 3y-1mo-2w-2d-7h-48m ago

Suez Canal Authority says Ever Given has been refloated

The container ship Ever Given has now been refloated, and work will resume at noon, at which point the ship amp 39 s direction is expected to be fully restored, says the Suez Canal Authority.....

Shipping Watch Published 3y-1mo-2w-2d-8h-47m ago

Lauritzen Bulkers gains customers from pressured container market

According to Lauritzen Bulkers, the dry bulk market is in great shape with high demand and high rates. Everyone is making money in this market, says CEO of Lauritzen Bulkers to ShippingWatch. The Danish shipping company has gained customers from the pressured container market.....

Shipping Watch Published 3y-1mo-2w-2d-9h-36m ago

Suez Canal Authority confirms that Ever Given has been partially refloated

The container ship Ever Given that is blocking the Suez Canal has now been partially refloated and is 80 percent readjusted, confirms the Suez Canal Authority. The ship has been blocking the vital tradelane since Tuesday.....

Shipping Watch Published 3y-1mo-2w-2d-10h-58m ago

Media: Ever Given is partially or entirely freed

Monday morning local time, Evergreen amp 39 s Ever Given was partially or entirely freed according to media like Reuters and Bloomberg. However, the Suez Canal Authorities have not confirmed the information so far.....

Shipping Watch Published 3y-1mo-2w-2d-12h-15m ago

Suez Canal Auhority considers launching "Plan C"

After a weekend of continued attempts to refloat Ever Given, the Suez Canal Authority considers introducing new meassures named Plan C which involves the complex offloading of containers, writes media Egypt Today.....

Shipping Watch Published 3y-1mo-2w-3d-1h-7m ago

MSC calls Suez blockage "one of the biggest disruptions to global trade in recent years"

Liner carrriers, among them MSC and Maersk, are re routing a large number of vessels south of Africa. Still, MSC now describes the Suez Canal blokage as a major disruption that will impact second quarter 2021 heavily.....

Shipping Watch Published 3y-1mo-2w-4d-29m ago

A.P. Møller Holding expects even bigger profit in 2021

The Mærsk family amp 39 s holding company boosts its profits in 2020, during which the container market in particular helped raise the bottom line despite the global outbreak of the coronavirus. The holding company expects to land an even better result this year.....

Shipping Watch Published 3y-1mo-2w-5d-3h-15m ago

Suez blockage sends oil prices and tanker rates soaring

The Suez Canal remains blocked in both directions for the fourth consecutive day, now causing both oil prices and tanker rates to skyrocket. Production and demand could be affected if ships are forced to find alternative and longer routes, writes Reuters.....

Shipping Watch Published 3y-1mo-2w-5d-3h-47m ago

Ineos divests Norwegian oil business

The British group will now focus its oil business on the UK and Denmark. PGNIG takes over all the company amp 39 s Norwegian assets for a price of USD 615 million. Wood Mackenzie describes the deal as a amp 34 good exit amp 34 for Ineos.....

Shipping Watch Published 3y-1mo-2w-5d-4h-8m ago

Authorities bank on tide to help refloat grounded ship in Suez Canal

Authorities are now relying on the tide to refloat grounded Ever Given in the Suez Canal. If unsuccessful, it may take another 14 days, as that is when the high tide returns, according to an assessment. More than 200 ships are so far queued up. Friday, another attempt to refloat the vessel failed, s....

Shipping Watch Published 3y-1mo-2w-5d-4h-38m ago

OOCL earns close to USD 1 billion in record year

Container carrier OOCL achieved an operating profit of USD 992 million in 2020. The best result ever, writes the container line. Revenue and container volumes also broke records.....

Shipping Watch Published 3y-1mo-2w-5d-5h-43m ago

Maersk Supply fined for dramatic shipwreck: "We should have chosen a different approach"

In retrospect, Maersk Supply Service and its CEO would have done many things differently before the spectacular shipwreck in 2016. The carrier has now been fined by Danish police, and the CEO takes full responsibility for similar events not happening again, he tells ShippingWatch.....

Shipping Watch Published 3y-1mo-2w-5d-7h-28m ago

J. Lauritzen significantly reduced its deficit in 2020 after divestment and capital injection

J. Lauritzen exits 2020 with a considerably lower deficit and the company, which now only consist of dry bulk following the sale of its gas business, expects to book its first profit in more than ten years in 2021, although the year is subject to more uncertainty that usual.....

Shipping Watch Published 3y-1mo-2w-5d-8h-39m ago

Container ships reroute south of Africa to circumvent Suez Canal

South Korea amp 39 s HMM confirms to ShippingWatch that the container line has redirected a ship south of Africa to circumvent the Suez Canal, where a grounded container ship continues to block all passage. amp 34 A few vessels amp 34 have so far done the same, says shipping analyst.....

Shipping Watch Published 3y-1mo-2w-5d-8h-48m ago

2021 may set a record for trade in used dry bulk vessels

The market for buying and selling secondhand dry bulk vessels may break a record in 2021. In total, close to 300 dry bulk vessels have changed hands so far this year, writes Bimco in an update.....

Shipping Watch Published 3y-1mo-2w-5d-9h-17m ago

Norden's chairman calls Israel-instructions "inappropriate"

Klaus Nyborg, chair of Norden, acknowledges that the company amp 39 s instructions to keep fake logbooks for trips to Israel were inappropriate. Dominant shareholder Motortramp will not comment on the matter to ShippingWatch.....

Shipping Watch Published 3y-1mo-2w-5d-10h-36m ago

Drilling industry sees first signs of desired consolidation

The hard pressed drilling sector is now seeing the first signs of a consolidation that has been long called for among drilling companies, several of which have had to seek bankruptcy protection under Chapter 11. Drilling companies Noble and Pacific Drilling have now agreed to merge.....

Shipping Watch Published 3y-1mo-2w-6d-3h-25m ago

Maersk Supply Service fined USD 24,000 in protracted shipwreck case

After a multiple year investigation, Danish police has now reached a decision in the case pertaining to two supply vessels that sank off the coast of France in December 2016. Maersk Supply Service is fined USD 24,000.....

Shipping Watch Published 3y-1mo-2w-6d-4h-10m ago

Floatel lands debt restructuring and secures new credits

Strained shipping company Floatel, leaser of accommodation rigs to the offshore industry, lands a restructuring agreement, which helps reduce debt by USD 610 million. Last year, a merger with competitor Prosafe was called off.....

Shipping Watch Published 3y-1mo-2w-6d-4h-27m ago

Wilhelmsen allocates USD 500 million to new business investments

Wilhelmsen shifts focus from the oil and gas segment to activities that, among other things, can help reduce CO2 emissions in the maritime industry. To promote these efforts, the company plans to invest USD 500 million in new businesses.....

Shipping Watch Published 3y-1mo-2w-6d-4h-44m ago

Maersk considers air routes to circumvent blocked Suez Canal

Maersk is now looking at alternative routes and contemplates air solutions for particularly time sensitive cargoes. Egypt authorities continue the attempt to refloat grounded Ever Given in the Suez Canal, which is blocking all passage. Meanwhile, a salvage company tells Dutch media that the operatio....

Shipping Watch Published 3y-1mo-2w-6d-5h-31m ago

Hamburger Hafen & Logistik expects growth in volumes in 2021

Operating earnings in Hamburger Hafen und Logistik decreased by around EUR 100 million in 2020 compared to the year before, due to lower volumes during the coronavirus pandemic.....

Shipping Watch Published 3y-1mo-2w-6d-6h-14m ago

Jefferies predicts Maersk could earn as much as USD 15 billion this year

The continued high freight rates in the container market now lead Jefferies to heighten expectations for Maersk amp 39 s 2021 earnings. The investment bank predicts a full year operating result of USD 14.47 billion.....

Shipping Watch Published 3y-1mo-2w-6d-7h-15m ago

Blue Water exceeds record result but expects lower profit in 2021

Danish logistics company Blue Water Shipping reports another record high profit in 2020, despite a declining top line. The profit is expected to drop amp 34 to around half amp 34 in 2021, during which important contracts in Kazakhstan expire.....

Shipping Watch Published 3y-1mo-2w-6d-8h-8m ago

Owner of grounded container ship in Suez Canal risks million dollar claims

The incident in the Suez Canal could trigger million dollar losses for the owner of container vessel Ever Given, which is currently stuck sideways in the canal, reports Reuters.....

Shipping Watch Published 3y-1mo-2w-6d-9h-5m ago

Two dredgers sent to refloat grounded container ship in Suez Canal

Tugboats and most recently two dredgers are being put to use on the third day of trying to free the colossal Evergreen container ship blocking the busy Suez Canal that connects Asia and Europe. Around 150 ships are currently affected by the blockage.....

Shipping Watch Published 3y-1mo-2w-6d-9h-51m ago

Danish Maritime Authority to investigate Norden's fake logbooks

In the wake of ShippingWatch amp 39 s exposure of Norden amp 39 s fake logbooks, the Danish Maritime Authority now investigates the matter. Violations of the Maritime Act may result in fines.....

Shipping Watch Published 3y-1mo-3w-2h-47m ago

Grounded container ship causes delays for liner majors in Suez Canal

Container majors such as ONE, Maersk, MSC and CMA CGM all have vessels currently located in the gridlocked Suez Canal. The incident has amp 34 started to have some impact, amp 34 ONE tells ShippingWatch, while Maersk has four ships amp 34 stuck amp 34 in the canal. Analyst Lars Jensen says t....

Shipping Watch Published 3y-1mo-3w-3h-24m ago

Hafnia secures sustainable loan of over USD 300 million

Tanker carrier Hafnia lands a new large loan, which is tied to the company reaching a number of climate goals. The loan has been entered with a syndicate of ten banks and is the first green loan for Hafnia.....

Shipping Watch Published 3y-1mo-3w-4h ago

Equinor breaks record after consecutive oil finds

After four discoveries in an otherwise mature area, oil company Equinor amp 39 s senior vice president of exploration in Norway, Nick Ashton, considers a amp 34 revitalization amp 34 of the area.....

Shipping Watch Published 3y-1mo-3w-4h-17m ago

MAN to supply engines for new supertankers

Engine supplier MAN Energy Solutions will be tasked with supplying ten new VLCCs with dual fuel engines that can sail on LNG.....

Shipping Watch Published 3y-1mo-3w-4h-22m ago

Borr Drilling secures new contracts

Drilling company Borr Drilling announces new contracts that may add nearly USD 50 million to the orderbook.....

Shipping Watch Published 3y-1mo-3w-6h-30m ago

Recent months show an "order wave" for ultra-large box ships

The period between late last year and into the new year has seen a massive increase in orders for large ships in the container industry, writes Alphaliner. High freight rates and strong earnings have led to more newbuild orders.....

Shipping Watch Published 3y-1mo-3w-7h-15m ago

Nordic Shipholding's equity is negative – hopes for merger

Tanker company Nordic Shipholding lost its entire equity during a tough 2020, announced the shipping company Tuesday. The company has long worked to settle a rescue plan, in which the hope is to land a merger in 2021.....

Shipping Watch Published 3y-1mo-3w-7h-59m ago

Snabe on Maersk Container Industry: Time will tell whether we are the right owners

Maersk Container Industry is not amp 34 in as close of a synergy amp 34 as the other parts of Maersks three business areas, said chair Jim Hageman Snabe Tuesday. MCI was recently rumored to be a possible target of sale.....

Shipping Watch Published 3y-1mo-3w-9h-5m ago

DHL to invest up to EUR 7 billion in climate target ahead to 2030

Transport group DHL is dialing up green ambitions by joining a climate initiative and spending up to EUR 7 billion on amp 34 climate neutral logistics amp 34 ahead to 2030. Management amp 39 s pay will also be tied to the targets.....

Shipping Watch Published 3y-1mo-3w-9h-58m ago

Suez Canal blocked by ultra-large container ship in both directions

One of the world amp 39 s biggest container vessels ran aground in the Suez Canal Tuesday, where it is currently blocking at least 100 vessels from passing through. amp 34 It could take a while, amp 34 assesses transit agent for vessels in the Suez Canal in a comment to ShippingWatch.....

Shipping Watch Published 3y-1mo-3w-10h-49m ago

Shareholder praises Maersk for quality boost – but criticizes chairman remuneration

A.P. Møller Maersk has basically built a amp 34 stronger base business, amp 34 says shareholder ATP. However, this does not prevent the Danish pension major from criticizing Chairman of the Board, Jim Hagemann Snabe amp 39 s, pay level, said the shareholder during Maersk amp 39 s annual gener....

Shipping Watch Published 3y-1mo-3w-1d-2h-53m ago

Maersk has "substantial" logistics acquisitions and decarbonization on its list of biggest risks

Maersk has reviewed its list of top 10 risks that the company must deal with in the medium term. Integrating large logistics acquisitions and decarbonization both figure on that list, which makes sense, argues analyst.....

Shipping Watch Published 3y-1mo-3w-1d-3h-12m ago

UK may include shipping in new emissions trading platform

The UK is considering the possibility of including the shipping industry in its new quota system in efforts to eliminate transport pollution by 2050, writes Bloomberg.....

Shipping Watch Published 3y-1mo-3w-1d-3h-55m ago

Klaveness CEO accuses IMO's new CO2 rules of punishing efficient carriers

Efficient carriers will be punished if the IMO insists on measuring a ship amp 39 s carbon intensity based on a the ship amp 39 s maximum, potential cargo load and not the actual load transported, CEO of Norwegian Klaveness Combination Carriers tells ShippingWatch.....

Shipping Watch Published 3y-1mo-3w-1d-4h-44m ago

Port company takes over Lim family's stake in oil terminal

Singapore based port operator Jurong Port has taken over the Lim family amp 39 s stake in a major oil storage terminal in the city state, writes Reuters.....

Shipping Watch Published 3y-1mo-3w-1d-5h-11m ago

Unifeeder's acquisition schedule delayed by Covid-19

Unifeeder amp 39 s acquisitions of a series of Indian and Dubai based companies were originally scheduled to be settled before the end of 2020, but the pandemic delayed those processes. amp 34 We must be nearing the finish line, amp 34 CEO Jesper Kristensen tells ShippingWatch, while he says ru....

Shipping Watch Published 3y-1mo-3w-1d-5h-59m ago

S&P upgrades Hapag-Lloyd's credit rating

German container line Hapag Lloyd is now awarded with a higher rating from credit rating agency S amp P. Both Maersk and CMA CGM have also recently been awarded better ratings by major credit rating institutes.....

Shipping Watch Published 3y-1mo-3w-1d-6h-42m ago

Zim exits 2020 with a profit of half a billion dollars

Israeli container shipping company ZIM Integrated Shipping exceeds expectations and exits 2020 with a profit of USD 524 million.....

Shipping Watch Published 3y-1mo-3w-1d-7h-43m ago

Norden significantly upgrades its 2021 guidance

Shipping company Norden now expects a significantly better result for 2021 than previously announced. In particular, business unit Dry Operator is expected to benefit from a stronger dry bulk market, writes the company Tuesday.....

Shipping Watch Published 3y-1mo-3w-1d-8h-53m ago

Another accident hits Seadrill rig two weeks after orders to improve safety

Barely two weeks after drilling company Seadrill was ordered to improve safety, another accident has occurred on one of the company amp 39 s drilling rigs, writes Energi24. amp 34 It is not good at all, amp 34 says Norway amp 39 s supervisory authority.....

Shipping Watch Published 3y-1mo-3w-1d-10h-40m ago

Even the disposal of waste bags was detailed in instructions to conceal Norden's transports to Israel

Instructions to Norden amp 39 s captains to veil trips to Israel were described in minute detail in a manual sent by the tanker company in Denmark upon entering the Mediterranean. Even waste bags were not allowed to reveal the destination. Read the entire manual here.....

Shipping Watch Published 3y-1mo-3w-2d-2h-50m ago

Big ships snag unusual cargoes as dry bulk market tightens

Shipments of timber and grain are being loaded onto a class of ship usually reserved for other cargo due to strong demand to move commodities.....

Shipping Watch Published 3y-1mo-3w-2d-2h-55m ago

Red-hot market prompts Maersk customers to sign perpetual contracts

The prospect of a period with record high freight rates has prompted several of Maersk amp 39 s large customers to sign evergreen contracts, albeit with an adjustment mechanism, states the shipping company.....

Shipping Watch Published 3y-1mo-3w-2d-3h-56m ago

Media: Wilhelmsen family was hiding wealth abroad

The Wilhelmsen family, which is one of Norway amp 39 s wealthiest, has for several years now had a secret fortune kept abroad, according to Dagens Næringsliv.....

Shipping Watch Published 3y-1mo-3w-2d-4h-15m ago

Robert Uggla takes large ownership stake in secretive A.P. Møller company

In January, Robert Uggla took over a large independent ownership stake in the family treasure Maersk Tankers. Now he has once more been awarded a sizeable stake in a company that the Mærsk family has yet to reveal information about.....

Shipping Watch Published 3y-1mo-3w-2d-5h-8m ago

Cargill CEO becomes chair of shipping players' new set of CO2 rules

Sea Cargo Charter has appointed 13 new members of its steering committee. Jan Dieleman from Cargill Ocean Transportation takes the chair.....

Shipping Watch Published 3y-1mo-3w-2d-6h-2m ago

Qatar Petroleum puts contracts for huge LNG fleet out to tender

State owned Qatar Petroleum invites shipowners to bid on long term charter contracts for more than 100 LNG ships, which the company will use to sail liquefied petroleum gas in coming years.....

Shipping Watch Published 3y-1mo-3w-2d-7h-25m ago

Erria continues the work towards re-establishing its equity

Danish shipping company Erria continues the work towards re establishing its equity, shows a financial account, in which the company reports a small surplus in 2020.....

Shipping Watch Published 3y-1mo-3w-2d-7h-46m ago

Norden has instructed captains to fabricate fake logbooks

For years, tanker company Norden has instructed captains to write fake logbooks and paint over ship names in order to keep trips to Israel a secret. The activities were amp 34 wrong and unacceptable amp 34 , the company states.....

Shipping Watch Published 3y-1mo-3w-2d-8h-26m ago

World's largest oil firm saw collapsed earnings in 2020

Oil giant Saudi Aramco is regarded as the world amp 39 s most profitable company, and despite its new annual report showing almost halved earnings, the outfit keeps its title.....

Shipping Watch Published 3y-1mo-3w-2d-9h-16m ago

Equinor has chartered 40 ships in efforts to lower carbon footprint

Oil company Equinor is working to reduce its maritime carbon footprint. The company has made agreements to charter a total of 40 tankers, which the company sees as more energy efficient. The company will also investigate alternative fuels, according to the company amp 39 s sustainability report.....

Shipping Watch Published 3y-1mo-3w-5d-3h-5m ago

Scrubber installations have doubled in one year

In just one year, the number of scrubbers installed on board the global fleet has almost doubled. According to Bimco, investors and carriers are more likely to order ships with a scrubber preinstalled now than previously.....

Shipping Watch Published 3y-1mo-3w-5d-3h-28m ago

Better days for Norwegian offshore pull up rates on service ships

Increased activity for drilling rigs deployed in the Norwegian part of the North Sea has led to rising demand and higher rates on the so called anchor handling tug supply vessels, reports Finansavisen.....

Shipping Watch Published 3y-1mo-3w-5d-4h-3m ago

Danish frigate has the mandate to arrest pirates and seize weapons in Gulf of Guinea

The Danish frigate, which is to be deployed in the Gulf of Guinea to fight piracy, will have the mandate needed to arrest pirates and seize weapons, the Ministry of Defense informs ShippingWatch. Prosecuting the pirates, however, is more problematic, assesses maritime researcher.....

Shipping Watch Published 3y-1mo-3w-5d-4h-17m ago

Grimaldi sticks to scrubbers despite record low fuel prices in 2020

Emanuele Grimaldi, CEO of Grimaldi Group and Vice President of ICS, still sees scrubbers as the best solution to protect the world amp 39 s oceans from maritime pollution. amp 34 Fuel prices do not change anything, amp 34 the Italian shipowner tells ShippingWatch.....

Shipping Watch Published 3y-1mo-3w-5d-4h-30m ago

Marine Capital drops LNG and bets on offshore wind

Investment company Marine Capital drops LNG and plans to phase out all conventional vessels to instead go for offshore wind. Green aspects are crucial in capturing the attention of investors, explains CEO Tony Foster in an interview with ShippingWatch.....

Shipping Watch Published 3y-1mo-3w-5d-6h-21m ago

Awilco to list new offshore wind company

Awilco aims to list new offshore wind venture, Integrated Wind Solutions. If all goes according to plan, the first trading day could be at the end of March.....

Shipping Watch Published 3y-1mo-3w-5d-6h-57m ago

A strong fourth quarter was not enough to pull Navigator in the black for 2020

Gas carrier Navigator Holdings, which holds the world amp 39 s biggest fleet of handysizes, booked its third consecutive quarterly profit in the fourth quarter, and yet the company amp 39 s full year result ended in a deficit of USD 0.4 million. BW Group bought a 39 percent stake in the carrier in....

Shipping Watch Published 3y-1mo-3w-5d-8h-34m ago

Bunker Holding company terminates contract with the Danish Defense before trial

Oil subsidiary under Bunker Holding is no longer in contract with the Danish Armed Forces to supply fuel. The parties thus part ways before the case against the bunker group commences. Updated.....

Shipping Watch Published 3y-1mo-3w-5d-9h-21m ago

Celsius Shipping books million-dollar profit from vessel sales

Celsius Shipping has sold four vessels in the first months of the year, according to Vessels Value. This month, a container vessel was sold for more than twice its acquisition price, reveal data from the vessel database.....

Shipping Watch Published 3y-1mo-3w-5d-11h ago

DP World felt Covid-19 in 2020

Port company DP World also felt the effects of the coronavirus pandemic, which caused volumes to drop at the company amp 39 s terminals in 2020. The top line, however, increased nearly USD 1 billion.....

Shipping Watch Published 3y-1mo-3w-6d-2h-48m ago

ONE and Hapag-Lloyd want to join Tradelens – and have wanted to for over a year and a half

Why have two of the world amp 39 s biggest container lines, ONE and Hapag Lloyd, yet to join Tradelens more than one and a half year after they first announced their participation The process has been delayed, says ONE, which continues to negotiate with the Maersk platform.....

Shipping Watch Published 3y-1mo-3w-6d-3h-8m ago

Niledutch was Hapag-Lloyd's only possible acquisition target

Niledutch was likely the only opportunity available in the container market, says Hapag Lloyd CEO Rolf Habben Jansen after acquiring the Dutch shipping company. amp 34 We have been very lucky, amp 34 he says.....

Shipping Watch Published 3y-1mo-3w-6d-4h-13m ago

China is the sole driver for iron ore exports in early 2021

Export of iron ore from Brazil saw a good start to 2021. But China alone is responsible for accelerating that development, shows an analysis from Bimco.....

Shipping Watch Published 3y-1mo-3w-6d-4h-46m ago

Emanuele Grimaldi has one clear favorite among alternative fuels

Italy amp 39 s Grimaldi Group, which owns companies such as ferry operator Finnlines, says that there is still a long way to go before future fuels such as ammonia and hydrogen make sense. Emanuele Grimaldi does, however, have one clear favorite, if he has to choose, he says in an interview with Sh....

Shipping Watch Published 3y-1mo-3w-6d-5h-28m ago

Portchain secures contract with Maersk's Russian port company

Tech company Portchain enters an agreement with Russian port company Global Ports, of which Maersk owns a third. The port company plans to install Portchain amp 39 s system at two of its container terminals.....

Shipping Watch Published 3y-1mo-3w-6d-5h-54m ago

Shipowners call on EU to support Denmark in the fight against piracy

Denmark amp 39 s Minister of Defense receives support from both the German Shipowners amp 39 Association, VDR, and ECSA for the decision to deploy a frigate in the pirate plagued Gulf of Guinea off West Africa. They call on the EU and its member states to support the action. Updated.....

Shipping Watch Published 3y-1mo-3w-6d-8h-23m ago

Norwegian shipping bank to increase lending in 2021

Norway amp 39 s Maritime amp Merchant Bank expects to increase lending to shipping companies in 2021, a year in which global economic growth is expected to play a role. Last year, the bank saw its result and lending decrease.....

Shipping Watch Published 3y-1mo-3w-6d-8h-23m ago

Hapag-Lloyd expects to surpass last year's result in 2021

Hapag Lloyd is doing so well that the German container line now expects the 2021 operating income to amp 34 clearly surpass amp 34 last year amp 39 s result. This is, however, conditioned on volumes continuing to grow and average freight rates staying higher than in 2020.....

Shipping Watch Published 3y-1mo-3w-6d-10h-17m ago

IMO is "concerned" about seafarers trapped in coal conflict between Australia and China

The International Maritime Organization IMO expresses concern about how long seafarers have been aboard dry bulkers off China loaded with Australian coal. amp 34 We have been in contact with the Chinese government about the situation, amp 34 says IMO in a statement.....

Shipping Watch Published 3y-1mo-3w-6d-11h-2m ago

Hapag-Lloyd buys Dutch container line focused on Africa

Germany amp 39 s Hapag Lloyd buys Dutch container line NileDutch, which specializes in container shipping to and from West Africa. NileDutch has a fleet capacity of around 80,000 teu and 16 offices globally.....

Shipping Watch Published 3y-1mo-3w-6d-23h-27m ago

15 kidnapped crew members in Gulf of Guinea are "doing well"

The 15 crew members kidnapped from a chemical tanker during a pirate attack on March 11 have shown signs of life, a spokesman for De Poli Shipmanagement told ShippingWatch. Work is being done to release the seafarers.....

Shipping Watch Published 3y-1mo-4w-2h-49m ago

Esvagt CEO expects steady flow of orders following US offshore joint venture

Following a new joint venture with US based logistics and shipping company Crowley, Esvagt is ready to enter the competition for contracts in the US offshore wind industry. The Danish shipping company is already working on an offer for oil giant Equinor, reveals CEO Peter Lytzen.....

Shipping Watch Published 3y-1mo-4w-3h-52m ago

Solstad Offshore sells two ships

Offshore carrier Solstad Offshore parts ways with two ships, delivered to their new owner on Wednesday. The company is currently undergoing a restructuring that entails the divestment of 37 ships.....

Shipping Watch Published 3y-1mo-4w-4h-27m ago

Five Japanese lenders are now part of Poseidon Principles

Another Japanese lender decides to join the Poseidon Principles, which works for more sustainable loans in the shipping industry. A total of five Japanese finance firms now support the initiative, while there are no Chinese names on the list yet.....

Shipping Watch Published 3y-1mo-4w-4h-48m ago

NGO questions Maersk's carbon-neutral vessel

Maersk is betting on the wrong horse by choosing to use methanol to propel its new carbon neutral vessel, says NGO Transport amp Environment. According to their criticism, the fuel is neither green nor sustainable. amp 34 We evaluate all projects and future partners based on life cycle analyses,....

Shipping Watch Published 3y-1mo-4w-5h-7m ago

Tradelens project now has Asian competitor with Hapag-Lloyd as shareholder

Blockchain venture GSBN, which is considered a direct competitor to Maersk amp 39 s platform Tradelens, now goes live with support from many large shipping companies. One of them is Hapag Lloyd, which has otherwise previously announced it would join Tradelens. The German carrier believes in a amp ....

Shipping Watch Published 3y-1mo-4w-5h-31m ago

Container carriers fare better through Covid-19 than previous crises

Compared to the financial crisis, container carriers are making it through the coronavirus pandemic with better outcomes, partly because consumers have increased trade in goods, assesses analyst firm Alphaliner.....

Shipping Watch Published 3y-1mo-4w-7h-37m ago

Carbon-neutral shipping projects are on the rise in Asia

The number of projects working on solutions for CO2 neutral shipping has doubled in Asia over the past six months, shows new report from the Getting to Zero Coalition, comprising 140 member companies. The half year report reveals three trends.....

Shipping Watch Published 3y-1mo-4w-8h-53m ago

Shortage of new shipping containers adds to global trade turmoil

Container makers are scrambling to meet a surge in demand for the metal boxes that transport close to 90 percent of the world amp 39 s goods around the globe. A trade boom in the container market has thrown close to 25 million boxes off their normal routes.....

Shipping Watch Published 3y-1mo-4w-10h-4m ago

Denmark deploys naval vessel to Gulf of Guinea

Denmark is deploying a frigate to the Gulf of Guinea to combat piracy in the area, where three merchant vessels have come under attack in recent months, Minister of Defense Trine Bramsen announced Tuesday. Launching a mission will make a huge difference, says Danish Shipping.....

Shipping Watch Published 3y-1mo-4w-10h-51m ago

Esvagt enters joint venture with Crowley aimed at US offshore wind market

Wind carrier Esvagt establishes a joint venture with US based Crowley to develop SOV ships for the US offshore wind market, which is growing rapidly.....

Shipping Watch Published 3y-1mo-4w-1d-2h-49m ago

Maersk company has halved staff, closed two factories and focused the business: "These were not easy decisions"

With Sean Fitzgerald at the helm, Maersk Container Industry has closed two factories, more than halved its staff and phased out dry containers. The CEO now reports of a full factory for the coming months and a strong reefer market in an interview with ShippingWatch. The company was recently rumored ....

Shipping Watch Published 3y-1mo-4w-1d-3h-3m ago

Korean yard group to build LPG vessels worth in excess of USD 700 million

Yard group Korea Shipbuilding amp Offshore Engineering books orders totaling ten LPG vessels from various companies. The orders have a total value of more than USD 700 million.....

Shipping Watch Published 3y-1mo-4w-1d-3h-35m ago

Three Asian bunker hubs report of increased bunker sales in 2020

Total demand for marine fuel declined in 2020, but three bunker hubs report of higher sales in the fourth quarter and for 2020 as a whole, reveals a survey conducted by Ship amp Bunker.....

Shipping Watch Published 3y-1mo-4w-1d-4h-17m ago

Wilhelmsen and Østensjø to take wind venture public

Wilh. Wilhelmsen group and Norwegian company Østensjø plan to list joint wind venture Edda Wind on the Oslo Stock Exchange. The company just ordered several vessels.....

Shipping Watch Published 3y-1mo-4w-1d-5h-39m ago

Lauritzen Foundation injected capital into strained dry bulk carrier twice in 2020

Twice in 2020, Lauritzen Foundation had to inject fresh capital into its shipping business. First to J. Lauritzen, and later just to support the dry bulk business, confirms the foundation amp 39 s CEO Tommy Thomsen. In total, the owner has injected more than a quarter billion dollars in the past fi....

Shipping Watch Published 3y-1mo-4w-1d-7h-10m ago

Ardmore to establish hydrogen venture with two partners

Tanker company Ardmore and two partners will establish a joint venture to supply hydrogen to the maritime sector. As part of the agreement, Ardmore will receive USD 40 million from one of the partners.....

Shipping Watch Published 3y-1mo-4w-1d-7h-43m ago

Only six tankers left the market in the first months of the year

The start of 2021 saw a lull in the scrapping of tankers despite record low earnings for ships and the highest scrap prices in almost two years. Only six tankers have left the market since New Year, writes Simpson Spence Young.....

Shipping Watch Published 3y-1mo-4w-1d-8h-47m ago

Panama wants IMO to help crews stranded in China and Australia's coal conflict

Panama is now asking the Secretary General of the IMO to step in and help the many seafarers stranded on up to 74 ships in Chinese waters. The ships have been at anchor for months outside the country amp 39 s ports loaded with Australian coal, which China has blocked.....

Shipping Watch Published 3y-1mo-4w-1d-9h-56m ago

Russian Sovcomflot advances in 2020 despite plunge in fourth quarter

Sovcomflot amp 39 s tanker business plunged in the fourth quarter, but overall the company came out of the year with growth in TCE revenue and an increase in net profit of 18 percent to USD 267 million. Tanker makes up half of the business.....

Shipping Watch Published 3y-1mo-4w-1d-10h-43m ago

Dee4 Capital orders new tankers with JV-partners

Dee4 Capital Partners, led by former Norden and BW Group CEO Carsten Mortensen, has ordered three product tankers from a South Korean shipyard with a new joint venture partner. In total, the order amounts to USD 175 million.....

Shipping Watch Published 3y-1mo-4w-2d-2h-59m ago

Miserable tanker market turns VLCC rates negative: "Not sustainable"

Supertanker spot rates have, rather unusually, turned negative, and Euronav expects more ships to be taken out of the market, the carrier informs ShippingWatch. Recovery on the heels of Covid 19 has yet to materialize.....

Shipping Watch Published 3y-1mo-4w-2d-3h-30m ago

US ports start to ease number of queued container ships

The number of container ships queuing off ports on the US West Coast has been reduced in recent weeks, writes Bloomberg. However, a double digit number of vessels still await berthing space to unload cargo.....

Shipping Watch Published 3y-1mo-4w-2d-4h ago

Ceva Logistics misses its 2020 breakeven target

Ceva Logistics, CMA CGM amp 39 s logistics business, will not reach its target of black numbers on the bottom line in 2020. The year of the coronavirus pandemic brought a loss of more than USD 100 million, far below the target set out by the management.....

Shipping Watch Published 3y-1mo-4w-2d-4h-25m ago

Analyst firm sees container market imbalance last for months

Container lines amp 39 ability to redirect equipment such as containers will continue to be under pressure in the months to come, estimates Sea Intelligence. The Covid 19 crisis has triggered a large imbalance between import and export volumes.....

Shipping Watch Published 3y-1mo-4w-2d-5h-28m ago

Maersk Supply Service adds former Vestas CEO to the board

Offshore shipping company Maersk Supply Service appoints former head of MHI Vestas to its board of directors in an effort to bring in more business from renewable energy.....

Shipping Watch Published 3y-1mo-4w-2d-6h-56m ago

Gas rates drop significantly on the heels of strong start to the year

Both LNG and LPG rates have now dropped below breakeven after both segments saw extremely strong earnings levels at the start of the year, writes Finansavisen.....

Shipping Watch Published 3y-1mo-4w-2d-7h-50m ago

Iranian investigator believes Israel attacked Iranian container ship

Last week, an Iranian container ship was attacked and damaged while passing through the Mediterranean Sea. According to an Iranian investigator, it is likely that Israel was behind the attack, writes Reuters on the basis of Iranian media.....

Shipping Watch Published 3y-1mo-4w-2d-8h-51m ago

OSM Maritime opens office in Copenhagen

OSM Maritime expands its presence with a new office in Copenhagen. The company will service customers based in the Danish capital, including Navig8 Chemical Tankers.....

Shipping Watch Published 3y-1mo-4w-2d-9h-48m ago

Italy's d'Amico expects low fleet growth for tanker in coming years

Product tanker carrier d amp 39 Amico International Shipping turned a deficit into a profit in 2020 despite a dip in the second half of the year. The company is optimistic about the years to come due to a historically low orderbook and expectation of increased scrapping.....

Shipping Watch Published 3y-1mo-4w-2d-11h ago

CMA CGM books billion-dollar profit in the fourth quarter

French container line CMA CGM exited the fourth quarter of 2020 with a USD 1 billion net profit, shows annual report. Strong container market is expected to continue into the first part of 2021, says CEO Rodolphe Saadé. The carrier expects to own 32 LNG powered vessels before the end of 2022.....

Shipping Watch Published 3y-2mo-1d-23h-34m ago

Noble Corp books impairments totaling USD 4 billion – but orderbook goes up

Financially reborn Noble Corp. sold off five cold stacked drilling rigs in the fourth quarter 2021 and had to book an asset impairment totaling USD 4 billion as a result, reveals the company amp 39 s 2020 report. But the orderbook goes up.....

Shipping Watch Published 3y-2mo-2d-2h-47m ago

Danish minister wants to launch a naval vessel to combat piracy in Gulf of Guinea

Denmark amp 39 s Minister of Defense, Trine Bramsen, has asked the Danish Defense to deploy a vessel to the Gulf of Guinea off West Africa to combat piracy. Thursday, 15 seafarers were kidnapped from a Dutch operated tanker.....

Shipping Watch Published 3y-2mo-2d-3h-12m ago

International shipping recommends tax on CO2 emissions

Global shipping organizations Bimco and ICS urge the IMO to prioritize putting a CO2 tax on the agenda. Danish Shipping, however, makes a decisive objection.....

Shipping Watch Published 3y-2mo-2d-3h-50m ago

Dorian has examined the possibility of vaccinating its own seafarers

When the crew change crisis peaked, more than half of Dorian amp 39 s seafarers had been at sea longer than their contracts allowed. CEO John Hadjipateras now hopes seafarers can be granted priority when vaccines are rolled out, and Dorian has also tried to secure vaccines for employees on its own.....

Shipping Watch Published 3y-2mo-2d-4h-8m ago

Covid leads Viking Life-Saving to lay off 300 employees

Revenue and earnings declined for supply company Viking Life Saving Equipment last year, which has laid off 300 employees after an amp 34 organizational adjustment, amp 34 the company confirms to ShippingWatch. That figure equates to almost one in ten employees being laid off.....

Shipping Watch Published 3y-2mo-2d-4h-8m ago

15 crew members kidnapped from chemical tanker in Gulf of Guinea

15 crew members aboard chemical tanker Davide B, managed by De Poli Shipmanagement, have been kidnapped by pirates in the Gulf of Guinea off the west coast of Africa, the company informs ShippingWatch.....

Shipping Watch Published 3y-2mo-2d-6h-54m ago

Air and Ocean declined at NTG in tough pandemic year

A tough 2020 hit the Air and Ocean division at logistics company NTG the hardest. The business leg shrunk in size and some entities have scaled or shut down. Meanwhile, the overall business grew on the bottom line and the 2021 guidance predicts improvement.....

Shipping Watch Published 3y-2mo-2d-7h-22m ago

Shell charters ten new LNG-fueled supertankers

Oil giant Shell signs contracts for ten new supertankers powered by LNG. The ships are being built in South Korea, and are expected to hit the water in 2022.....

Shipping Watch Published 3y-2mo-2d-8h-48m ago

Sohmen-Pao becomes chairman of new large gas carrier BW Epic Kosan

New major gas carrier BW Epic Kosan, the result of a merger between Lauritzen Kosan and Epic Gas, has finally fallen into place and been approved by relevant authorities. BW Group amp 39 s strongman Andreas Sohmen Pao will chair the board.....

Shipping Watch Published 3y-2mo-2d-9h-29m ago

BW Offshore pursues IPO after large wind acquisition

After acquiring Ideol, BW Offshore targets a listing in Oslo for its new floating wind company. The target is to have 10 GW operational floating offshore wind by 2030 at the latest.....

Shipping Watch Published 3y-2mo-3d-2h-52m ago

Glencore makes changes to its top management

Commodity trader Glencore prepares for major changes at the top of the organization after the company amp 39 s board chair has announced that he will step down at next year amp 39 s general assembly.....

Shipping Watch Published 3y-2mo-3d-3h-18m ago

Habben Jansen wants carriers to up the orderbook

The red hot container market needs more new vessels if the market growth of approximately 3 percent a year is to be handled. The orderbook for new vessels is far too low, says Hapag Lloyd amp 39 s chief executive. Analyst agrees. But Maersk will not order newbuilds.....

Shipping Watch Published 3y-2mo-3d-3h-22m ago

Hafnia aims to reach IMO target two years ahead of schedule

Tanker shipping company Hafnia aims to reach IMO amp 39 s target of a 40 percent reduction in carbon intensity by 2028, which would be two years ahead of IMO amp 39 s deadline. We are making several adjustments at once, says Hafnia chief executive Mikael Skov.....

Shipping Watch Published 3y-2mo-3d-3h-32m ago

Players test "vital shortcut to carbon-neutral shipping"

Alfa Laval has joined forces with several partners in efforts to make a regular marine engine operate on methanol rather than diesel without any adjustments. If successful, it could be a vital shortcut to carbon neutral shipping.....

Shipping Watch Published 3y-2mo-3d-6h ago

Solstad CEO embarks on large-scale fleet clean-up

Large Norwegian offshore company Solstad Offshore has begun a major process to clean up its fleet, which will see 37 vessels being divested. Three have already been sold and more sales are expected soon, CEO Lars Peder Solstad tells ShippingWatch.....

Shipping Watch Published 3y-2mo-3d-6h-50m ago

DFDS saw volumes go up in February – passenger business remains strained

Shipping company DFDS saw an increase in freight volumes in February, but the passenger business continues to suffer under the coronavirus pandemic.....

Shipping Watch Published 3y-2mo-3d-7h-15m ago

Singapore court approves liquidation of Hin Leong

Singapore amp 39 s High Court has approved the liquidation of commodity trader Hin Leong, reports Reuters. Court appointed administrators requested permission to wind up the company in February.....

Shipping Watch Published 3y-2mo-3d-7h-51m ago

UK industry sees port delays after Brexit

A survey from industry organization Make UK shows that three out of four UK manufacturing companies have experienced delivery delays to customers in Europe after Brexit.....

Shipping Watch Published 3y-2mo-3d-9h-19m ago

Nordea tightens demands on fossil energy investments

The Nordic financial group is tightening demands on fossil energy investments for 140 affiliated funds in connection with the EU amp 39 s financial disclosure regulations on sustainability entering force.....

Shipping Watch Published 3y-2mo-3d-9h-19m ago

Exmar approved for new ammonia-powered gas ship

Tanker company Exmar has secured an approval in principle from Lloyd amp 39 s Register for a new gas vessel that will be powered by ammonia.....

Shipping Watch Published 3y-2mo-3d-10h-39m ago

Hafnia calls for more mergers – climate and digitization exclude small players

Following its failed attempt to acquire Ardmore Shipping last year, Hafnia CEO Mikael Skov now calls for more consolidation in product tanker. Large investments in climate and digital solutions make it difficult for smaller players to keep pace, he tells ShippingWatch.....

Shipping Watch Published 3y-2mo-4d-2h-53m ago

Monjasa deploys another tanker to the Panama Canal

Bunker company Monjasa ups its activities in the Panama Canal by deploying another tanker vessel to supply bunker to customers.....

Shipping Watch Published 3y-2mo-4d-4h-7m ago

Major shipping nations now support IMO's billion-dollar fund for green research

A series of shipping organizations and maritime nations, such as Greece and Japan, want to see a research fund of USD 5 billion approved in November this year. The research fund will work towards the launch of zero emission ships by 2030, a crucial step in meeting climate goals for shipping.....

Shipping Watch Published 3y-2mo-4d-4h-52m ago

Maersk mulls USD 1 billion sale of Maersk Container Industry

Maersk is considering whether to sell business unit Maersk Container Industry, which builds reefer containers, reports Bloomberg based on unnamed sources.....

Shipping Watch Published 3y-2mo-4d-5h-19m ago

Ship forced to wait 269 days finally unloads Australian coal in China

A ship that has waited 269 days off China with a cargo of Australian coal has now been permitted to unload its cargo. The permission was given out of concern for the stranded seafarers and does not indicate an easing of China amp 39 s ban on Australian coal.....

Shipping Watch Published 3y-2mo-4d-5h-47m ago

Trusted Fredriksen representative says new Seadrill rescue is "more brutal"

The restructuring of crisis stricken rig company Seadrill will be amp 34 more brutal amp 34 than the last one, which took place just a few years ago, estimates Gunnar Eliassen, John Fredriksen amp 39 s board representative since 2019.....

Shipping Watch Published 3y-2mo-4d-7h-33m ago

Cadeler lands biggest contract to date through agreement with Siemens Gamesa

Offshore wind carrier Cadeler, formerly Swire Blue Ocean, lands a major contract with Siemens Gamesa to transport and install offshore wind turbines. The contract is termed the largest in Cadeler amp 39 s history.....

Shipping Watch Published 3y-2mo-4d-8h-10m ago

Maersk and Keppel to explore ammonia in new study

Industrial players are joining forces to investigate ammonia in more detail as a fuel for ships in Singapore. Maersk and Singapore shipyard Keppel Offshore amp Marine are among the participating companies behind the study.....

Shipping Watch Published 3y-2mo-4d-9h-12m ago

EU awaits crucial information on South Korean shipyard merger

The European competition authorities still await important information about South Korean merger of large shipyards DSME and Hyundai Heavy Industries. The process has been on hiatus since last summer, spokesperson confirms to ShippingWatch.....

Shipping Watch Published 3y-2mo-4d-10h-3m ago

Container carriers step up lobbying effort

Within a single week, global shipping organization World Shipping Council expands the number of employees from 8 to 14. Among other things, to improve work efforts in climate solutions.....

Shipping Watch Published 3y-2mo-4d-10h-21m ago

Idan Ofer's Eastern Pacific Shipping plans to use natural gas to make its fleet green

Eastern Pacific Shipping, owned by Israeli shipping magnate Idan Ofer, plans to use natural gas to propel its 34 dual fuel newbuilds. ShippingWatch interviews CEO Cyril Ducau about the company amp 39 s three main climate components.....

Shipping Watch Published 3y-2mo-5d-3h-18m ago

OECD ups prognosis for global growth in 2021

OECD raises expectations for growth in the global economy in 2021.....

Shipping Watch Published 3y-2mo-5d-3h-44m ago

Major banks to align shipping loans with climate targets: "This is a marathon, not a sprint"

Shipping loans at Danske Bank and Nordea do not yet comply with the IMO amp 39 s climate targets, shows report. But new lending principles that allow banks to measure customers on climate factors have created amp 34 a good starting point amp 34 for further work, they tell ShippingWatch. Both ba....

Shipping Watch Published 3y-2mo-5d-4h-2m ago

Prosafe expects all floatels in operation in 2021 after "lost year"

Accommodation rig supplier Prosafe finds its feet after a year in which most activities came to a standstill in the wake of the coronavirus pandemic. The Norwegian rig company amp 39 s contract with Shell has finally commenced after almost a year of postponement.....

Shipping Watch Published 3y-2mo-5d-5h-10m ago

Former Scorpio Bulkers lost more than USD 600 million in 2020 after exit from dry bulk

Eneti, formerly Scorpio Bulkers, lost more than USD 600 million in 2020, the year in which the company decided to make an exit from bulk to instead enter wind. The large deficit is mainly attributable to impairments on ships sold or put up for sale.....

Shipping Watch Published 3y-2mo-5d-6h-36m ago

Maersk Product Tankers sees muted market on the heels of major profit

A growing tanker fleet and lower rates created an imbalance in the tanker market in the second half of 2020, which is set to continue into the first half of 2021, predicts Maersk Product Tankers. 2020 brought a record result.....

Shipping Watch Published 3y-2mo-5d-7h-36m ago

Stena Line wants every third leader to be female from next year

Swedish carrier Stena Line wants women to hold 30 percent of leadership positions at all levels of the company by the end of 2022. The carrier is working on four intitiatives.....

Shipping Watch Published 3y-2mo-5d-7h-48m ago

Five percent of marine fuels should be green by 2030

If shipping is to comply with the Paris Accord, at least five percent of the fuel used in 2030 must be CO2 neutral, or in other words completely green, reveals a new analysis by Getting to Zero.....

Shipping Watch Published 3y-2mo-5d-8h-33m ago

Stena Bulk is working on a concept hybrid vessel

Stena Bulk is working on a ship fueled by carbon free hydrogen that is capable of carrying both wet and dry cargoes as well as gas products. The ship amp 39 s modular cargo units can be dropped off outside of ports to avoid congestions. The ship may hit the water in 2030, but the price remains unkn....

Shipping Watch Published 3y-2mo-5d-9h-57m ago

DHL handles 2.9 million teu at sea in 2020 despite lower freight volumes

DHL Global Forwarding, DHL amp 39 s logistics business, saw a drop in oceanic freight volumes in 2020. Overall, the company handled 10 percent fewer containers at sea in 2020. Meanwhile, both revenue and the operating profit grew in the period.....

Shipping Watch Published 3y-2mo-5d-10h-44m ago

DSV and DHL see container bottlenecks spread to Singapore

Logistics majors DHL and DSV confirm that bottlenecks in the container market have now spread from the US to Asia. In Singapore, a amp 34 perfect storm amp 34 is causing longer waits and delays, says DSV to ShippingWatch.....

Shipping Watch Published 3y-2mo-6d-3h-9m ago

Vestager to examine competition in red-hot container market

EU Competition Commissioner Margrethe Vestager now plans to scrutinize the extreme situation unfolding in the global container market together with the industry. The EU will subsequently amp 34 consider ways forward, amp 34 a spokesperson tells ShippingWatch.....

Shipping Watch Published 3y-2mo-6d-3h-34m ago

Seaspan continues shopping spree with order for six newbuilds

Shipowner Seaspan continues its shopping spree for tonnage with an order for another six newbuilds with a capacity of 15,000 teu each. Seaspan has thus ordered 31 new vessels since December as well as purchased several older vessels.....

Shipping Watch Published 3y-2mo-6d-3h-52m ago

A phone call from Toyota turbocharged Corvus' green shipping project

Battery supplier Corvus Energy believes fuel cells could be the key to unlocking shipping amp 39 s green transition, and an unexpected phone call from Japan amp 39 s Toyota only fueled the company amp 39 s belief in the project further.....

Shipping Watch Published 3y-2mo-6d-4h-40m ago

Höegh family wants to delist gas carrier from stock exchange

With plans to delist gas carrier Höegh LNG from the stock exchange, the Höegh family and several Morgan Stanley controlled funds want to buy out all remaining shareholders.....

Shipping Watch Published 3y-2mo-6d-5h-44m ago

New survey on overheated container market flunks carriers' service and prices

Poor service paired with record rates. Container lines face criticism in a new quarterly review from the Global Shippers amp 39 Forum, which evaluates the container market on eight parameters. Analyst somewhat defends the carriers.....

Shipping Watch Published 3y-2mo-6d-6h-59m ago

Industry players to post billions into Singapore's maritime sector

Singapore amp 39 s maritime industry can expect investments of up to SGD 20 billion until 2024, which will generate new jobs in the sector, says the city state amp 39 s transport minister.....

Shipping Watch Published 3y-2mo-6d-8h ago

Key Saudi Arabian oil site attacked, sending Brent above USD 70

Saudi Arabian oil saw its most serious attacks in 18 months when export terminal Ras Tanura came under missile and drone fire in an assault claimed by Houthi rebels, prompting a near 3 percent rise in Brent crude price.....

Shipping Watch Published 3y-2mo-6d-9h-1m ago

Hafnia expects more active vessels to strain product tanker in 2021

Tanker shipping company Hafnia reports a profit of USD 149 million in 2020 despite a red fourth quarter. Hafnia believes in recovery for the product tanker market, but not until the second half of the year.....

Shipping Watch Published 3y-2mo-6d-9h-32m ago

Partnership between shipowner and MAN selects ammonia and methanol as future fuel

Eastern Pacific Shipping now enters a partnership with MAN Energy Solutions and a fuel supplier to retrofit and build ammonia and methanol powered ships.....

Shipping Watch Published 3y-2mo-6d-10h-50m ago

Maersk Supply Service to deploy women in pairs: No one should be alone in a macho environment

At Maersk Supply Service, only three percent of seafarers are female. The company wants to ensure that women never find themselves alone in a male dominated environment and will deploy women in pairs, head of crew management tells ShippingWatch.....

Shipping Watch Published 3y-2mo-1w-2d-2h-58m ago

Port of Rotterdam awards bunker licenses to 27 companies

Europe amp 39 s biggest port now presents a list of 27 companies that have secured permission to operate bunker barges in the port. The licenses have been introduced as part of the efforts to get better control of the port amp 39 s bunker business.....

Shipping Watch Published 3y-2mo-1w-2d-3h-36m ago

US offshore carrier Tidewater sold more than 50 vessels in 2020

Tidewater spent 2020 revising its fleet, which resulted in the divestment of more than 50 vessels, shows interim report, in which impairments contributed to a large decifit.....

Shipping Watch Published 3y-2mo-1w-2d-4h-17m ago

Eagle Bulk executive sees best time charter rates in years

Eagle Bulk faced a deficit in 2020, but the US company expects growth in what it believes will be a strong year for dry bulk.....

Shipping Watch Published 3y-2mo-1w-2d-5h-27m ago

OSM Maritime removes managerial level after CEO's exit

OSM Maritime has removed a managerial level after the company amp 39 s former CEO, Bjørn Sprotte, left to move to V.Group last year. The chain of command now goes straight to OSM amp 39 s parent company.....

Shipping Watch Published 3y-2mo-1w-2d-6h-8m ago

A few weeks ago the LPG market was basically a money printing machine

With daily rates of USD 100,000 a few weeks ago, the LPG market was basically a money press, as BW LPG chief executive Anders Onarheim puts it in an interview with ShippingWatch. Today, rates would have a hard time going any lower, he says.....

Shipping Watch Published 3y-2mo-1w-2d-6h-47m ago

Logistics chain bottlenecks trigger longer contracts for container carriers

Major bottlenecks throughout global logistics chains cause customers to enter contracts with liner companies that go beyond the usual 6 12 months. Danish retailer Coop is one example, writes media.....

Shipping Watch Published 3y-2mo-1w-2d-7h-58m ago

China's modest growth target signals policy shift from world

For 2021, China has set a modest economic growth target of 6 percent, which signals more restrained monetary and fiscal policies this year, in contrast to other major nations still pumping in stimulus.....

Shipping Watch Published 3y-2mo-1w-2d-9h-1m ago

Seaspan adds more container ships to its orderbook

Shipowner Seaspan continues to expand its fleet, this time acquiring eight new ships, all of which will be equipped with scrubbers. Since December, the shipowner has ordered 25 ships.....

Shipping Watch Published 3y-2mo-1w-2d-9h-57m ago

Oil rallies toward USD 65 with Saudi supply gamble reverberating

With OPEC+ deciding not to ease its supply curbs, even as the global economy is on the mend, the oil price soars toward USD 65 per barrel.....

Shipping Watch Published 3y-2mo-1w-2d-10h-59m ago

Boskalis in setback despite advancing in offshore

Major improvements in the Offshore Energy division were not enough to secure a profit on the Dutch offshore company amp 39 s bottom line.....

Shipping Watch Published 3y-2mo-1w-2d-11h-54m ago

DFDS, Klaveness and Trafigura want EU to bet on ammonia and hydrogen

A series of shipping companies including DFDS and Klaveness, as well as commodity trader Trafigura, call on the EU to bet on ammonia and hydrogen as the marine fuels of the future. LNG and biofuels emit too much CO2, they say.....

Shipping Watch Published 3y-2mo-1w-3d-3h ago

February snowstorm in Texas hits tanker companies

February amp 39 s major snowstorm, which covered much of the US, also hit the country amp 39 s crude oil production in Texas, causing bad news for tanker companies, assesses Bimco.....

Shipping Watch Published 3y-2mo-1w-3d-3h-29m ago

Norden pays the price of a "catastrophically bad tanker market" in 2021

The current tanker market is catastrophically poor with unprecedented low rates in the otherwise attractive winter months, Norden CEO Jan Rindbo tells ShippingWatch. That is why he projects that Norden amp 39 s earnings will almost halve in 2021, compared to 2020 amp 39 s record result.....

Shipping Watch Published 3y-2mo-1w-3d-3h-31m ago

Bottlenecks lead Kuehne + Nagel to focus on its key customers

Despite a strong second half year, Kuehne + Nagel amp 39 s container volumes declined overall in 2020. Sky high demand and container shortages have led the logistics company to focus on its amp 34 key customers amp 34 during the pandemic, says CEO Detlef Trefzger.....

Shipping Watch Published 3y-2mo-1w-3d-4h-1m ago

Grindrod Shipping: Customers still not ready for CO2 tax

Charterers are still not ready to pay carbon taxes, proclaims shipowner Grindrod Shipping Holdings. Customers flaunting their green credentials would still rather choose an old ship if it means they can save 50 cents, says CEO.....

Shipping Watch Published 3y-2mo-1w-3d-5h-44m ago

Frontline and Euronav chief execs: OPEC+ could kickstart tanker market

The negotiations in OPEC+ about a potential increase in oil production could lead to a positive mood change in the tanker market, says CEO of Norway amp 39 s Frontline. Euronav amp 39 s CEO hopes for amp 34 dream scenario amp 34 with high scrapping of old tankers.....

Shipping Watch Published 3y-2mo-1w-3d-7h-1m ago

Fredriksen's Seadrill books a deficit of almost USD 5 billion

Drilling company Seadrill started 2021 with a deficit four times the size of that in 2019. The strained company continues to be in talks about a comprehensive rescue plan and still awaits approval of its Chapter 11 petition.....

Shipping Watch Published 3y-2mo-1w-3d-10h-3m ago

Norden expects significantly lower result in 2021 after record year

Norden expects to land a lower result for 2021 than the one booked for the recently finished year. The adjusted annual result is expected to land between USD 20 and 60 million, while that post came to USD 105.7 million in 2020.....

Shipping Watch Published 3y-2mo-1w-3d-10h-4m ago

Valaris gets rescue plan approved

Valaris receives the court amp 39 s approval for its rescue plan. With comprehensive support from both bond holders and banks, the rescue plan means that the crisis stricken drilling company expects to leave Chapter 11 early in the second quarter.....

Shipping Watch Published 3y-2mo-1w-3d-10h-20m ago

Court in Singapore approves PIL's large-scale rescue plan

The Singapore High Court has approved the agreement, which will make strained container line PIL financially able to compete in the container market once again.....

Shipping Watch Published 3y-2mo-1w-3d-10h-56m ago

Maersk Etienne case leads Italian police to investigate NGO

NGO Mediterranea Saving Humans is under investigation by the Italian police for its involvement in the disembarkation of the 27 migrants after 38 days on board Maersk Etienne. Maersk Tankers is aware of the investigation, but denies there has been a amp 34 commercial agreement amp 34 .....

Shipping Watch Published 3y-2mo-1w-4d-2h-52m ago

Maersk appoints executive to work on future fuels

Container major Maersk has appointed a new head of future fuels. She has been found internally and will work under the group amp 39 s new decarbonization team to explore alternative fuels for the fleet.....

Shipping Watch Published 3y-2mo-1w-4d-2h-54m ago

Container CEOs jointly attack US ports for having insufficient infrastructure

If US ports were better equipped and worked like ports in Asia, the severe bottlenecks on the US West Coast might have eased off long ago. CEOs of two container majors strike back with a surprisingly clear quest to invest more and work longer hours.....

Shipping Watch Published 3y-2mo-1w-4d-3h ago

Hafnia raises wages to achieve its diversity target

Product tanker carrier Hafnia wants 40 percent of its organization to be female within three years. In order to retain and recruit women, wages have been raised for some women, Hafnia executive tells ShippingWatch.....

Shipping Watch Published 3y-2mo-1w-4d-4h-43m ago

Eneti will draw on US institutional capital to become a major player in offshore wind

The former Scorpio Bulkers is betting on US investors to raise capital for the rapidly growing wind market. Decade long experience in raising capital and contracting newbuilds could make the company a major player, states Managing Director David Morant.....

Shipping Watch Published 3y-2mo-1w-4d-5h-18m ago

Hempel continues acquisition hunt after challenging year

Coating producer Hempel has had a challenging year on account of Covid 19, though its top line still improved. 2021 began with a new strategy and acquisition, which is the first step toward an ambitious goal to double its revenue.....

Shipping Watch Published 3y-2mo-1w-4d-6h-47m ago

SAL Heavy Lift and Jumbo launch new joint venture in fleet operations

A new joint venture is underway in heavy lift, where specialized shipping companies Jumbo and SAL Heavy Lift plan to collaborate on fleet operations and commercial activities.....

Shipping Watch Published 3y-2mo-1w-4d-8h-3m ago

Seaspan buys two container ships on long-term charter contracts

Shipowner Seaspan is acquiring ships for the third time in less than a month, this time purchasing two container vessels currently on charter.....

Shipping Watch Published 3y-2mo-1w-4d-8h-52m ago

Sale and purchase volumes for container ships reach highest level in four years

In 2020, sale and purchase transactions surged to the highest level in four years despite the fact that the year was generally affected by the coronavirus pandemic.....

Shipping Watch Published 3y-2mo-1w-4d-8h-58m ago

Kuehne + Nagel reveals acquisition price of Apex International

Logistics company Kuehne + Nagel will pay more than CHF 1 billion for the acquisition of Apex International, reveals the company amp 39 s annual report, in which Kuehne + Nagel reports of a strong second half year. Overall, ocean bound container volumes dropped in 2020. Being updated.....

Shipping Watch Published 3y-2mo-1w-4d-11h-27m ago

CMA CGM buys 50 percent of TTIA terminal in Algeciras

French shipping group CMA CGM buys 50 percent minus one share of Spain’s Total Terminal International Algeciras TTIA port terminal.....

Shipping Watch Published 3y-2mo-1w-5d-2h-47m ago

New swine fever mutations in China could impact dry bulk and reefer

A milder variant of the African swine fever, which is both more difficult to discover and control, has been found in China, reports Reuters. The outbreak could impact dry bulk and reefer carriers if the mutations spiral out of control.....

Shipping Watch Published 3y-2mo-1w-5d-2h-53m ago

Niels Smedegaard joins Molslinjen as board chair

The sale of Danish ferry company Molslinjen to equity fund EQT Infrastructure closed today, Tuesday, March 2. As part of the transition of ownership, the company elects a new board of directors, chaired by Niels Smedegaard.....

Shipping Watch Published 3y-2mo-1w-5d-3h-8m ago

Akastor and Baker Hughes establish joint drilling venture

Akastor, part of Kjell Inge Røkke amp 39 s Aker group, joins US based Baker Hughes in establishing a joint venture to deliver global drilling solutions. Activities will be managed from both Norway and the US.....

Shipping Watch Published 3y-2mo-1w-5d-3h-20m ago

V.Group's fourth CEO in three years: "The many changes may indeed have been a distraction"

René Kofod Olsen is V.Group amp 39 s fourth CEO in just three years. The many changes have been a distraction and have led to several wrong decisions, he tells ShippingWatch. The mandate from the owner is to future proof the company, and for this he is willing to make both selections and rejection....

Shipping Watch Published 3y-2mo-1w-5d-4h-48m ago

Hempel to raise its coating prices globally

Due to higher prices of raw materials, coating manufacturer Hempel now raises its prices globally.....

Shipping Watch Published 3y-2mo-1w-5d-5h-31m ago

Awilco establishes new company and enters offshore wind

Alwilco amp 39 s new company, Integrated Wind Solutions, enters the market for completion, service and maintenance of offshore wind farms, reports Finansavisen.....

Shipping Watch Published 3y-2mo-1w-5d-6h-49m ago

One third of Lim family ships have new owners

Around one third of the ships controlled by Hin Leong founder O.K. Lim and his family have new owners, Reuters reports. The rest of the ships are expected to be sold by the end of the year.....

Shipping Watch Published 3y-2mo-1w-5d-8h-25m ago

Maersk: "We're actually dismayed by the level of service we're forced to provide right now"

Only 46 percent of Maersk amp 39 s vessels arrive on time, which is a service level that Maersk, according to CCO Vincent Clerc, is amp 34 dismayed by amp 34 , even if the industry reliability average is only around one in three ships.....

Shipping Watch Published 3y-2mo-1w-5d-9h-3m ago

Havila books profit on the heels of approved rescue plan

A restructuring agreement helped turn offshore company Havila amp 39 s full year result into a profit. But earnings still show signs of a severely strained industry.....

Shipping Watch Published 3y-2mo-1w-5d-10h-41m ago

Overheated container market could last until next spring

The soaring rates in container transport could last until the spring of 2022, concludes Sea Intelligence, citing two historical trends. Rates to the US could increase by an additional 25 percent.....

Shipping Watch Published 3y-2mo-1w-6d-3h-3m ago

Hurtigruten ended 2020 with large deficit despite large-scale aid schemes

Hurtigruten lost almost USD 200 million in 2020 even though the shipping company received large sums in compensation from the Norwegian government amp 39 s compensation schemes. Monday, the company secures a new large loan.....

Shipping Watch Published 3y-2mo-1w-6d-3h-25m ago

Torm CEO sees no burning platform in the green transition

Product tanker shipping company Torm amp 39 s chief executive does not see the shift from fossil fuels to green energy as a burning platform. In the long term, new business legs may arise.....

Shipping Watch Published 3y-2mo-1w-6d-3h-26m ago

Gas major BW LPG eyes strained market in the second quarter

BW LPG exits 2020 with a decline on the bottom line. The shipping company expects a tougher market in the second quarter after the first quarter brought a record start to the year.....

Shipping Watch Published 3y-2mo-1w-6d-4h-33m ago

Danish Ship Finance's bottom line shrinks in tough pandemic year

Danish Ship Finance saw its bottom line shrink by DKK 110 million in 2020, while the bank projects a more stable shipping market and return to growth in the year to come.....

Shipping Watch Published 3y-2mo-1w-6d-6h-47m ago

World Fuel Services' fuel sales declined in 2020

Fuel sales and earnings declined in 2020 at US based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices.....

Shipping Watch Published 3y-2mo-1w-6d-7h-32m ago

Israel blames Iran for alleged explosion on board ship in Gulf of Oman

A car carrier was reportedly struck by an explosion in the Gulf of Oman Friday. According to Israel amp 39 s Prime Minister Benjamin Netanyahu, it is amp 34 clear amp 34 that Iran was behind he attack, reports Reuters.....

Shipping Watch Published 3y-2mo-1w-6d-8h-16m ago

Torm books profit for 2020 despite red fourth quarter

Product tanker carrier Torm records its second best result in five years with a profit of USD 90 million before tax despite a loss making fourth quarter. The company buys eight tankers from Team Tankers....

Shipping Watch Published 3y-2mo-1w-6d-9h-48m ago

Seven oil companies want in on new licenses for the Norwegian shelf

A total of seven oil companies have applied for production licenses on the Norwegian shelf in a new licensing round. Licenses are awarded for the Norwegian Sea and the Barents Sea.....

Shipping Watch Published 3y-2mo-1w-6d-10h-44m ago

Belships records deficit after several profitable years

The Norwegian dry bulk operator landed a small profit in the fourth quarter unlike in the previous quarters of 2020, in which the company lost money in light of a historically small order book in the dry bulk market. The annual result lands in the red.....

Shipping Watch Published 3y-2mo-1w-6d-10h-58m ago

Nordic American Tankers books full-year profit despite red fourth quarter

A big dip in both revenue and earnings in the last three months of the year was not enough to spoil the fact Nordic American Tankers booked a net result of USD 50 million for the year as a whole.....

Shipping Watch Published 3y-2mo-2w-2d-2h-50m ago

Banks prefer to invest in newbuilds despite uncertainty about future fuels

Banks prefer to finance newbuilds or retrofits, said several panelists at this year amp 39 s digital Marine Money conference. LNG is particularly popular among shipowners, which currently prefer to hold back on new orders.....

Shipping Watch Published 3y-2mo-2w-2d-3h-4m ago

Rodolphe Saadé promises better service – if the customers want to pay for it

If customers want improved service, they will have to pay for it, says CMA CGM chief executive Rodolphe Saadé on the same day that the container liners amp 39 reliability reaches an all time low. Hapag Lloyd presents a new guarantee to shippers.....

Shipping Watch Published 3y-2mo-2w-2d-3h-18m ago

Japanese financing firm to buy new LNG ships through billion-dollar fund

A Japanese financing firm is setting up a new fund of more than USD 5 billion for buying up LNG ships. The ships will be chartered out to major Japanese shipping companies, which thus get access to greener vessels without expanding their balance sheets.....

Shipping Watch Published 3y-2mo-2w-2d-3h-41m ago

Hunter Group is optimistic about tanker market after profitable 2020

Despite a weak tanker market in the fourth quarter, Norway amp 39 s Hunter Group delivered a profit – also for 2020 as a whole. Hunter Group, controlled by Norwegian Arne Fredly, is optimistic about 2021.....

Shipping Watch Published 3y-2mo-2w-2d-3h-42m ago

Borr Drilling lost more than USD 300 million in the midst of restructuring

Despite a reduced deficit in the fourth quarter, rig operator Borr Drilling exits 2020 with another deficit of more than USD 300 million. The company, which recently secured approval for a rescue plan, still projects a stronger market.....

Shipping Watch Published 3y-2mo-2w-2d-4h-50m ago

CMA CGM deploys six large LNG-powered container ships on USA-China

Container line CMA CGM will in October take delivery of the first of a total six new LNG powered ships, which will service the route between China and Los Angeles. CMA CGM will by 2022 have 32 LNG powered ships in its fleet of 538 ships.....

Shipping Watch Published 3y-2mo-2w-2d-6h-37m ago

CEO of new gas major will focus on green ships and the bottom line for the coming years

New gas tanker major BW Epic Kosan will especially focus on the ships of the future and the bottom line, explains Charles Maltby, who will serve as CEO of the company. The green agenda will also put a damper on consolidation in the LPG sector, he expects.....

Shipping Watch Published 3y-2mo-2w-2d-7h-33m ago

Nigeria will deploy drones, planes and boats in fight against pirates in the Gulf of Guinea

Transport Minister Rotimi Amaechi of Nigeria announces a three month offensive with planes, drones and boats, in an effort to protect commercial vessels against pirates in the Gulf of Guinea. The operation will costs USD 195 million, reports Bloomberg.....

Shipping Watch Published 3y-2mo-2w-2d-9h-21m ago

Solstad CEO wants banks to take charge of consolidation

The CEO of Norway amp 39 s Solstad calls on banks to take more charge of the consolidation among offshore ship operators. Without consolidation, not even rising rates will resolve the companies amp 39 woes, he says.....

Shipping Watch Published 3y-2mo-2w-2d-10h-17m ago

Eimskip saves millions of euros on employees after cutbacks

Eimskio has gone through comprehensive cutbacks, which among other things have created savings totaling millions of euros on employee wages. 2020 has been a demanding year, in which the partnership with Royal Arctic Line was finally launched.....

Shipping Watch Published 3y-2mo-2w-2d-11h-10m ago

Rainmaking will raise upwards of USD 30 million for maritime startups

Wilhelmsen and the Port of Hamburg have invested in a new fund established by startup incubator Rainmaking. The goal is to raise a total of USD 30 million for maritime startups, which can help resolve challenges in the supply chain.....

Shipping Watch Published 3y-2mo-2w-2d-11h-32m ago

Hitecvision acquires British oil fields from Exxon Mobil

For a period of one to two years, the Norwegian fund has worked to acquire most of US supermajor Exxon Mobil amp 39 s assets in the British North Sea.....

Shipping Watch Published 3y-2mo-2w-3d-2h-50m ago

Worried Odfjell Drilling more than triples its result for the year

Odfjell Drilling beat tough market conditions in offshore to deliver significant growth in earnings in 2020, but the company fears that future financing opportunities are impacted by sliding values and overcapacity.....

Shipping Watch Published 3y-2mo-2w-3d-3h-34m ago

Strong tanker year sends Canada's Teekay in the black for 2020

The Teekay group, which covers Teekay Tankers and Teekay LNG, among others, reports black figures for full year 2020, particularly due to the exceptionally strong tanker market in the first half year.....

Shipping Watch Published 3y-2mo-2w-3d-4h-25m ago

Pacific Basin reports significantly stronger start to the year than usual

2021 began significantly better than previous years, reports dry bulk operator Pacific Basin. This is due to factors such as coronavirus restrictions and stranded coal cargoes off China, which pull capacity from the market. A low orderbook makes optimism continue.....

Shipping Watch Published 3y-2mo-2w-3d-5h-26m ago

Dof exits 2020 with massive deficit – rates are too low to handle towering debt

Offshore ship operator Dof is in protracted talks for a long term restructuring, and the continuing weak market increases the risks of even bigger losses for the company.....

Shipping Watch Published 3y-2mo-2w-3d-6h-40m ago

Decade-high rates make MPC Container Ships project six-fold increase in earnings this year

2020 was a true roller coaster ride for MPC Container Ships, in which a crisis plan in the summer was replaced by record high rates later in the year. The boom has continued into 2021, and the shipowner projects a six fold increase in earnings this year.....

Shipping Watch Published 3y-2mo-2w-3d-7h-40m ago

Former Maersk profile joins IBIA board of directors

The International Bunker Industry Association, IBIA, has set its new board of directors. Former Global Head of Crude Oil Trading at Maersk becomes a new board member along with representatives from Simms Showers and Terramar Oil Panama. The latter was re elected. Henrik Zederkof of Bunker Holding co....

Shipping Watch Published 3y-2mo-2w-3d-8h-35m ago

Keppel makes changes to its chairmanship

Singapore based Keppel makes changes to its chairmanship when its long time chairman steps down from April. Focus was recently renewed on a large scale bribery case in the company amp 39 s offshore and marine business.....

Shipping Watch Published 3y-2mo-2w-3d-9h-35m ago

Hafnia and bunker supplier introduce mass flow meters and digital bunkering in ARA

Oslo listed Hafnia has signed an agreement with a large independent bunker supplier to introduce mass flow meters and digital bunkering technology in Rotterdam, Amsterdam and Antwerp ARA . With the deal, Hafnia hopes to combat irregularities in bunker oil deliveries.....

Shipping Watch Published 3y-2mo-2w-3d-10h-27m ago

The port in Singapore joins ammonia fuel development project

The port authority in Singapore MPA is one of several major players to join a new project that aims to develop ammonia for use as fuel. As the world amp 39 s biggest bunker hub, MPA will contribute to the project amp 39 s research.....

Shipping Watch Published 3y-2mo-2w-3d-11h-3m ago

Wintershall Dea lost EUR 839 million in 2020

Despite stable output, the German oil outfit books a deficit due to a considerably lower oil price, among other factors.....

Shipping Watch Published 3y-2mo-2w-4d-3h-5m ago

EU expects to hold first meeting in migrant contact group in March

It is up to the member states themselves to come up with a long term solution to ensure that migrants do not end up stranded on board merchant vessels, but the Commission is working to create a contact group to help with the work.....

Shipping Watch Published 3y-2mo-2w-4d-3h-8m ago

Maersk proposes new board member

Maersk proposes a new member for its board of directors, who has a background at energy company Iberdrola and IT major IBM. The general assembly at which the decision will be made is scheduled for March.....

Shipping Watch Published 3y-2mo-2w-4d-3h-42m ago

DFDS will operate green ammonia-powered ferries

DFDS has agreed to start buying green ammonia from a large facility in Denmark from 2026 as fuel for the ferry and freight operator amp 39 s ships. The first ships could be equipped with dual fuel engines, DFDS Chief Exec Torben Carlsen tells ShippingWatch.....

Shipping Watch Published 3y-2mo-2w-4d-4h-5m ago

Grimaldi orders six new multipurpose RoRo ships

Italy amp 39 s Grimaldi Group orders six new ships as part of a fleet renewal. The order is for six new RoRo multipurpose ships, which will be built at Hyundai Mipo Dockyard.....

Shipping Watch Published 3y-2mo-2w-4d-4h-23m ago

Norwegian shipping wants money from carbon levy returned to the sector

The Norwegian maritime industry wants the money from the increased carbon levy gathered in a national fund, which will finance projects to advance the green transition.....

Shipping Watch Published 3y-2mo-2w-4d-6h-34m ago

Creditors in distressed bunker company risk incurring major losses

Several large banks risk losing big time on their loans to crisis stricken GP Global if the bunker company has to do a fire sale of its assets in connection with a restructuring, reports media.....

Shipping Watch Published 3y-2mo-2w-4d-7h-48m ago

Maersk's orderbook has become more regionally focused

Maersk currently has the smallest orderbook of the world amp 39 s top ten container lines. Meanwhile, Maersk has no new mega vessels on order, which, according to Alphaliner, indicates that shipping line has changed its strategy in terms of ordering newbuilds.....

Shipping Watch Published 3y-2mo-2w-4d-8h-36m ago

MAN Energy Solutions ready with methanol engines for the first feeder ships

MAN Energy Solutions has been working on a methanol engine for close to a decade. A ship from Maersk sailing on green methanol in 2023 will be the first of its kind, as the shipping companies prefer to replace diesel with gas, the company tells ShippingWatch.....

Shipping Watch Published 3y-2mo-2w-4d-9h-2m ago

Security firm rebukes EU for sluggishness in fight against pirates in Gulf of Guinea

Pirates attack merchant vessels like never before in the Gulf of Guinea off West Africa. A record 136 kidnapping attempts were made in 2020, reveals Dryad Global amp 39 s annual report. The security firm, among other things, criticizes the EU for being too slow.....

Shipping Watch Published 3y-2mo-2w-4d-10h-17m ago

Euronav and Hunter Group sell ships

While the tanker market is in the doldrums due to weak oil consumption, tanker carriers Euronav and Hunter Group have sold off a couple of tanker vessels.....

Shipping Watch Published 3y-2mo-2w-5d-2h-45m ago

Nordea did not issue a single new loan to offshore in 2020

Nordea did not issue a single new loan to offshore customers in 2020. The pressure on the industry created increased risk, which the bank is trying to limit by not issuing loans to new customers. Danske Bank will also limit its exposure to the sector going forward.....

Shipping Watch Published 3y-2mo-2w-5d-3h-2m ago

Blystad-controlled Songa Container is ready to profit on strong container market

Arne Blystad amp 39 s Songa Container expects to benefit from a strong container market in the coming months, where several ship contracts need to be renewed. Altogether the company booked a deficit in 2020.....

Shipping Watch Published 3y-2mo-2w-5d-3h-51m ago

Aker to list new hydrogen venture

With a range of projects on the agenda and a forthcoming public listing, Aker Clean Hydrogen has made its entrance on the hydrogen market of the future.....

Shipping Watch Published 3y-2mo-2w-5d-4h-49m ago

Hin Leong files winding-up application

The court appointed managers of commodity trader Hin Leong have now filed for permission to liquidate the company.....

Shipping Watch Published 3y-2mo-2w-5d-5h-53m ago

Energy coalition with CMA CGM eyes the first results from climate projects

The energy coalition with CMA CGM, Total and Wärtsilä expects to realize several targets this year for seven concrete projects. And a major port company and classification bureau also join the coalition.....

Shipping Watch Published 3y-2mo-2w-5d-7h-4m ago

Maersk Tankers and Cargill establish joint bunker venture

Maersk Tankers announces a new business leg, established in collaboration with commodity trader Cargill. The new business leg will handle bunker procurement.....

Shipping Watch Published 3y-2mo-2w-5d-8h-11m ago

Transocean projects stronger contract activity later this year

Rig operator Transocean finished a strong year for the drilling sector with a triple digit million dollar deficit on its bottom line in record year characterized by large impairments. The company amp 39 s CEO sees stronger contract activity later in the year and lasting into next year.....

Shipping Watch Published 3y-2mo-2w-5d-8h-42m ago

DFDS and Maersk will use carbon-free ammonia from new huge facility

Shipping companies DFDS and Maersk together with the agricultural sector are prepared to buy the production of up to 90,000 tons green ammonia from a large production facility, which could be ready in western Denmark five years from now. The investment totals around EUR 1 billion.....

Shipping Watch Published 3y-2mo-2w-5d-9h-56m ago

Svitzer's plans for remote controlled vessel enter next stage

Maersk owned Svitzer has spent the last couple of years testing a remote controlled tugboat in the Port of Copenhagen. The work now enters a new stage, with a target for having the first ship in commercial operations. Several decisive things need to fall into place in order to realize the plans, COO....

Shipping Watch Published 3y-2mo-2w-5d-10h-34m ago

Task force to ensure more women in Norway's maritime industry

There are too few women and too little diversity in the maritime industry and in the executive management of shipping companies, says the Norwegian Shipowners amp 39 Association. A task force has prepared a set of recommendations.....

Shipping Watch Published 3y-2mo-2w-6d-2h-49m ago

Maersk Tankers launches yet another new business leg

This week or next, Maersk Tankers will launch a new business leg that complements ZeroNorth. Unpredictability in the oil market necessitates a shift in mindset, explains CEO Christian M. Ingerslev in an interview with ShippingWatch.....

Shipping Watch Published 3y-2mo-2w-6d-3h-10m ago

Competition raid on Norwegian shipping companies fails to produce result

The Norwegian competition authorities found no basis for charges against shipping companies which were suspected of participating in illegal cartel activities. The case has now been shelved.....

Shipping Watch Published 3y-2mo-2w-6d-3h-35m ago

Higher oil prices strengthen investment perspective in scrubbers

2021 amp 39 s higher oil prices mean that it is once again a better business for shipping companies to have scrubbers installed on their  vessels.....

Shipping Watch Published 3y-2mo-2w-6d-4h-19m ago

Half-empty warehouses in the US could extend container market boom for rest of 2021

US retail trade stockpiles are very low and if retail sales following the coronavirus pandemic follow normal a development pattern, it could mean continued import growth in the container market for the rest of the year, reports Sea Intelligence.....

Shipping Watch Published 3y-2mo-2w-6d-5h-19m ago

Drilling company prepared to buy several rigs from Fredriksen's Seadrill

Dolphin Drilling is ready to buy up to eight drilling rigs from John Fredriksen amp 39 s Seadrill, reports Finansavisen. The crisis stricken rig company recently filed for Chapter 11 in the US.....

Shipping Watch Published 3y-2mo-2w-6d-6h-27m ago

Lloyd's Register appoints new executive trio to grow maritime business

Classification major Lloyd amp 39 s Register adds three executives to its leadership team, tasked with growing its maritime business. Shipping amp 39 s energy transition is a key focal point.....

Shipping Watch Published 3y-2mo-2w-6d-7h-37m ago

Large damages in shipping make Skuld and other insurers increase premiums

For the first time in a decade of decreasing premiums, Skuld and the other P amp I clubs now increase the price of insurance for the global ship fleet. The move is attributed to large damage claims, says Skuld CEO in an interview with ShippingWatch.....

Shipping Watch Published 3y-2mo-2w-6d-8h-20m ago

Crew can finally be repatriated after 43 months at sea

An oil tanker has been drifting at sea for several years after the owner ran into financial problems, but a solution has finally been found, writes Jyllands Posten. According to the media, the case displays a flaw in international maritime law.....

Shipping Watch Published 3y-2mo-2w-6d-8h-41m ago

Kuehne + Nagel buys Asian logistics company with 1,600 employees

Logistics major Kuehne + Nagel buys Asian logistics company Apex International, which has a revenue in the billions and 1,600 employees. According to Kuehne + Nagel, this marks the group amp 39 s biggest acquisition ever.....

Shipping Watch Published 3y-2mo-2w-6d-11h-11m ago

Tanker and bulk contribute to profit for Klaveness Combination Carriers

Cargoes in tanker and dry bulk contributed to a positive bottom line for Klaveness Combination Carriers in the fourth quarter.....

Shipping Watch Published 3y-2mo-3w-2d-3h-18m ago

Impairments send BW Offshore into the red

Uncertainty in the oil market lowered the value of BW Offshore amp 39 s assets, with a major impairment removing hopes for a profit in the year of Covid 19.....

Shipping Watch Published 3y-2mo-3w-2d-3h-36m ago

Habben Jansen now says container boom could continue into third quarter

Hapag Lloyd CEO Rolf Habben Jansen now believes that the red hot container market could stretch all the way into the third quarter. The problems resulting from this make the German container line and Maersk adjust their strategies in an effort to avoid equipment shortages going forward.....

Shipping Watch Published 3y-2mo-3w-2d-4h-17m ago

Maersk Drilling moves jobs from Norway to Poland to cut costs

Maersk Drilling will eliminate jobs in Norway and instead move them to Poland, where costs are lower. The employees are very displeased with the decision, which was made at headquarters in Denmark and without the employees being informed, says union representative Frode Larsen.....

Shipping Watch Published 3y-2mo-3w-2d-5h-27m ago

Year-end rally secures Avance Gas large 2020 profit

Gas tanker carrier Avance Gas lifted its results for both the fourth quarter and 2020 as a whole. Major delays in the Panama Canal contributed to the higher rates.....

Shipping Watch Published 3y-2mo-3w-2d-6h-17m ago

Top diplomat wants network of ships in the Gulf of Guinea to fight piracy

Top diplomat Jens Otto Horslund has been tasked with gathering more countries for a military effort in the piracy plagued Gulf of Guinea. A network of ships could be ready by the fall, he tells ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-2d-7h-23m ago

Frontline looks into muted tanker market from the start of the year

Like several of its competitors, the last few months of 2020 also ended with a deficit for John Fredriksen controlled tanker carrier Frontline. New CEO looks into a muted market.....

Shipping Watch Published 3y-2mo-3w-2d-9h-26m ago

GP Global subsidiary seeks debt moratorium in Singapore

Bunker supplier GP Global is undergoing a restructuring, and in that connection a Singaporean subsidiary applies for a debt related grace period. Creditors have outstanding receivables totaling more than USD 460 million, writes Reuters.....

Shipping Watch Published 3y-2mo-3w-2d-10h-9m ago

Maersk vessel lost 260 containers

Container ship Maersk Eindhoven lost 260 containers in the Pacific on Wednesday, Maersk now informs ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-2d-10h-59m ago

US steps up heat on container carriers to ease port congestion

The FMC steps up the heat on ocean liners and the terminals some of them operate in an effort to smooth the disrupted flow of containers that is currently causing port congestion and wreaking havoc on already strained supply chains.....

Shipping Watch Published 3y-2mo-3w-2d-11h-8m ago

Dolls on deck is one of Teekay's measures to keep pirates away

Dolls placed on deck form part of Teekay Tankers amp 39 measures to prevent pirate attacks when passing through West African waters, manager Mads Bjornebye said during Maritime Week Africa.....

Shipping Watch Published 3y-2mo-3w-3d-2h-44m ago

Golden Ocean CEO points to best start for dry bulk in years

The beginning of 2021 has so far been the strongest in years, according to Golden Ocean. The shipping company recently announced the acquisition of 18 ships from companies owned by majority shareholder John Fredriksen.....

Shipping Watch Published 3y-2mo-3w-3d-3h-9m ago

Norwegian consortium to build Europe's first green, large-scale ammonia plant

Utility Statkraft signs a letter of intent with Yara and Aker Horizons on production and development of green hydrogen and ammonia. The project amp 34 has the potential to become one of the largest climate initiatives in Norway’s industrial history, amp 34 reads a statement.....

Shipping Watch Published 3y-2mo-3w-3d-3h-23m ago

Dorian-CEO expects new spike in LPG rates after record start to 2021

LPG rates reached a peak for now in mid January. Since then, they have cooled off somewhat, but this does not keep Dorian CEO John Hadjipateras from projecting a new spike already this year. Four reasons factor in, he tells ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-3d-3h-23m ago

DHL will pay extra green bill for customers' LCL general cargo

In a rather unusual move in the logistics sector, DHL Global Forwarding says it is prepared to pay an extra green bill when customers transport general cargo at sea. The logistics company describes it as a game changer when speaking to ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-3d-4h-38m ago

Scorpio Tankers lost more than USD 76 million in the fourth quarter

Product tanker carrier Scorpio Tankers lost more than USD 76 million in the fourth quarter of 2020, during which repercussions of spring amp 39 s massive oil stockpiling continued to rub off on rates. Covid 19 will continue to cause volatility into 2021.....

Shipping Watch Published 3y-2mo-3w-3d-5h-23m ago

Port of Los Angeles takes steps to battle port congestion

Port of Los Angeles on the US West Coast plans to divert container ships to other ports in an effort to get control of the congestion problems that currently cause bottlenecks for both containers and ships, report several media.....

Shipping Watch Published 3y-2mo-3w-3d-7h-2m ago

Dry bulk operators could face earnings boom in coming years

An earnings boom in the coming years has made investors flock to the listed dry bulk operators. The increasing share prices will drive asset values up, projects Cleaves Securities.....

Shipping Watch Published 3y-2mo-3w-3d-7h-59m ago

"Record low" order book strengthens Star Bulk's optimism for dry bulk

Greek dry bulk ship operator Star Bulk Carriers finishes 2020 with a bottom line profit. CEO is optimistic about the prospects at the start of the year.....

Shipping Watch Published 3y-2mo-3w-3d-9h-30m ago

Golden Ocean to buy 18 bulk ships from Fredriksen companies

Norway amp 39 s Golden Ocean is on track to buy 18 dry bulk ships from a series of companies under John Fredriksen amp 39 s Hemen Holding. The shipping company will finance the acquisition by issuing shares, with Fredriksen buying half of the shares.....

Shipping Watch Published 3y-2mo-3w-3d-10h-19m ago

Maersk ship loses containers in the Pacific

A container ship belonging to Maersk has lost an unknown number of containers in the Pacific, after the ship had engine problems due to harsh weather. This marks the second time in a few weeks that containers go overboard on a Maersk ship in the Pacific.....

Shipping Watch Published 3y-2mo-3w-3d-11h-9m ago

Aker group books record value surge

Aker ASA increased its net asset value by 75 percent during the fourth quarter, a new record for the Norwegian industrial group.....

Shipping Watch Published 3y-2mo-3w-4d-3h-14m ago

Customers will pay higher price for Maersk's first carbon neutral ship

Maersk amp 39 s first carbon neutral container ship, which will sail on green methanol, can make transport amp 34 significantly more expensive. amp 34 But Maersk believes that there is a group of customers who are willing to pay the price, says the company amp 39 s head of climate, Morten Bo C....

Shipping Watch Published 3y-2mo-3w-4d-3h-33m ago

BW Offshore invests EUR 60 million in French offshore wind company

BW Offshore plans to develop a strong platform for floating offshore wind with investment in French offshore wind company.....

Shipping Watch Published 3y-2mo-3w-4d-4h-10m ago

Red-hot container market consolidated Chinese ports' global dominance

Five out of six of the world amp 39 s largest ports are now Chinese, after a 2020 that helped cement the country amp 39 s port dominance. Overall, the development was flat among the world amp 39 s 25 largest ports, shows a new analysis.....

Shipping Watch Published 3y-2mo-3w-4d-5h-2m ago

DSV executive: We should be pleased if the second half of 2021 returns to normal

It will be quite some time before the red hot freight market reaches some form of normalcy, projects DSV Panalpina amp 39 s CFO, Jens Lund. amp 34 The tough situation we see right now will continue for the remainder of the quarter, amp 34 he tells ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-4d-5h-35m ago

Epic Gas reports profit ahead of merger with Lauritzen Kosan

Gas ship operator Epic Gas, which will soon merge with J. Lauritzen amp 39 s gas activities, reports a profit for the fourth quarter. CEO sees challenges from 2020 continue into the new year, but he also points to bright spots in the LPG market.....

Shipping Watch Published 3y-2mo-3w-4d-7h-43m ago

Søren Skou sees many practical issues with upcoming carbon quotas from the EU

There is no doubt that shipping will soon become part of the EU amp 39 s Emission Trading System. But there are many issues that need to be resolved, says Maersk CEO Søren Skou. amp 34 The most important thing for us is a level playing field. amp 34 ....

Shipping Watch Published 3y-2mo-3w-4d-8h-40m ago

Maersk aims to operate carbon neutral ship by 2023

A.P. Moeller Maersk sets its sights on 2023, when the shipping company now plans to operate a carbon neutral container ship of 2,000 teu. The ship will sail on green methanol.....

Shipping Watch Published 3y-2mo-3w-4d-10h-19m ago

Maersk Tankers' digital venture opens office in Greece

Digital company Zeronorth, owned by founder Maersk Tankers and commodity trader Cargill, opens an office in Greece.....

Shipping Watch Published 3y-2mo-3w-4d-10h-30m ago

IMO wants to put piracy in the Gulf of Guinea on the international agenda

IMO Secretary General Kitack Lim is deeply concerned by the recent developments in the Gulf of Guinea off West Africa, which is plagued by a growing number of attacks on the international merchant fleet. The matter will now be discussed at an IMO meeting in May.....

Shipping Watch Published 3y-2mo-3w-4d-11h-16m ago

Monjasa acquitted by Danish Supreme Court court in case about towering oil profit

Bunker company Monjasa will not have to pay compensation of DKK 40 million in an unusual dispute with Stena Oil, rules Denmark amp 39 s Supreme Court.....

Shipping Watch Published 3y-2mo-3w-5d-2h-57m ago

Wilhelmsen, Yara and Equinor in bid to develop the world's first carbon-free dry bulk ship

Within a few weeks, a shipping company and a fuel supplier will be tapped for a project that is planned to build and deliver the first carbon free dry bulk ship in the world. The goal is for the ship to hit the water in 2023. Equinor, Yara and Wilhelmsen want to participate.....

Shipping Watch Published 3y-2mo-3w-5d-3h-8m ago

Hapag-Lloyd expects strong earnings growth in first quarter

German container line Hapag Lloyd expects to see a significant improvement in earnings in the first three months of the year. The 2021 results are expected to be amp 34 significantly higher amp 34 than in previous years.....

Shipping Watch Published 3y-2mo-3w-5d-3h-41m ago

Analyst firm projects the tanker market will bottom out in first half of 2021

The rates for crude and product tanker vessels got off to a weak start to the year, and according to an analyst firm the market could bottom out in the first half of the year. While rates are moving south, ship values have been more robust.....

Shipping Watch Published 3y-2mo-3w-5d-3h-44m ago

Oaktree fund joins forces with Australian bank to finance smaller ships

Fleetscape, a unit under equity fund Oaktree, has joined forces with a major Australian bank to offer alternative financing to small and medium sized ships. At first the fund has made arrangements for eight ships.....

Shipping Watch Published 3y-2mo-3w-5d-5h-8m ago

BHP lifts outlook and pays record dividend during supercycle talk

The world amp 39 s largest mining group, BHP, increases its outlook after a 16 percent improvement in its first half profit. Global vaccine efforts in particular bolster optimism.....

Shipping Watch Published 3y-2mo-3w-5d-6h-16m ago

Ship sales weigh down Røkke's Ocean Yield in fourth quarter

A sale of a construction and cable laying vessel was costly for Kjell Inge Røkke amp 39 s Ocean Yield in the fourth quarter. The sale contributes to a full year deficit for the shipowner.....

Shipping Watch Published 3y-2mo-3w-5d-7h-45m ago

Long-term container contracts increase by upwards of 75 percent

The long term container contracts currently being negotiated will be unusually expensive for the customers this year. Scan Global notes increases in the range of 50 to 75 percent, the logistics operator tells ShippingWatch. Others point to a doubling of price levels.....

Shipping Watch Published 3y-2mo-3w-5d-8h-56m ago

German HCOB ready for new shipping loans in 2021

Hamburg Commercial Bank is preparing to settle more loans for shipping in 2021 after new loans totaling roughly EUR 900 million last year. amp 34 We are ready for new business in 2021, amp 34 says Global Head of Shipping Jan Philipp Rohr to ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-5d-9h-24m ago

S&P increases DSV's credit rating: Demonstrated resilience throughout the pandemic

S amp P now lifts its credit rating of logistics company DSV Panalpina. This reward comes on the heels of DSV Panalpina showing resilience throughout the coronavirus pandemic, argues S amp P.....

Shipping Watch Published 3y-2mo-3w-5d-11h-17m ago

Maersk is now the only liner company without large newbuilds on order

With Friday amp 39 s news that Zim has ten large container vessels on order, Maersk is now the only container major without an order for new large container ships. And the competitors are not necessarily finished ordering, asserts shipping analyst Lars Jensen.....

Shipping Watch Published 3y-2mo-3w-6d-3h-4m ago

Mærsk Mc-Kinney zero carbon research center calls for Chinese partners

There are 10 15 new partners headed for the research center financed by the A.P. Moeller Foundation, but none of them are Chinese, and this could become a problem over time. ShippingWatch has interviewed the center amp 39 s head of industry transition, Mads Zacho, about goals and challenges.....

Shipping Watch Published 3y-2mo-3w-6d-3h-23m ago

Aker Solutions in the red after turbulent year and merger

2020 was a year of change for Aker Solutions, which enters a new era with a major deficit and expects to stay in the red for the foreseeable future, shows the Norwegian oil service company amp 39 s financial report.....

Shipping Watch Published 3y-2mo-3w-6d-4h-6m ago

Lauritzen Bulkers opens new office in Hong Kong

Dry bulk operator Lauritzen Bulkers will open an office in Hong Kong on April 1, 2021 to grow its customer base and gain easier access to Chinese owned ship tonnage.....

Shipping Watch Published 3y-2mo-3w-6d-4h-29m ago

Former Wrist Ship Supply CEO gets three new jobs

Robert Kledal, who stepped down as CEO of Wrist Ship Supply a little over a year ago, now adds three jobs to his CV. One of them is as chief executive officer, while he has also agreed to become a professor and to get involved in Rainmaking, he writes on LinkedIn.....

Shipping Watch Published 3y-2mo-3w-6d-5h-7m ago

Seadrill loses equity holding in Seadrill Partners with new rescue plan

Offshore company Seadrill Partners plans to convert debt into equity as part of its restructuring. As a result, however, parent company Seadrill is pushed out and loses its equity holding, writes Finansavisen.....

Shipping Watch Published 3y-2mo-3w-6d-6h-3m ago

Ørsted expects significant growth in offshore wind in Europe

Ørsted projects significant growth in the market for offshore wind in Europe in the coming years, and the utility has established an office in Sweden, while also considering entering Belgium. amp 34 We expect to be active in the North Sea as well as the Baltic Sea going forward, amp 34 says Ør....

Shipping Watch Published 3y-2mo-3w-6d-8h-4m ago

DSV wants to enable customers to pick greener routes

DSV Panalpina is working on an improved digital platform that will help enable customers to choose more climate friendly routes and to pay extra for green fuel. A growing demand has created momentum, says DSV Panalpina chief to ShippingWatch.....

Shipping Watch Published 3y-2mo-3w-6d-9h-7m ago

90,000 oil jobs could disappear within a decade

Lower oil prices could within a decade cost upwards of 90,000 jobs in the Norwegian oil sector, according to an update from the Norwegian government.....

Shipping Watch Published 3y-2mo-3w-6d-10h-34m ago

Two major European ports join forces

Antwerp and Bruges have agreed to merge the two cities amp 39 ports in an effort to strengthen their position in the global supply chain. The merger is expected to take a year.....

Shipping Watch Published 3y-2mo-3w-6d-11h-4m ago

15 kidnapped seafarers from Hapag-Lloyd chartered vessel released

The 15 crew members kidnapped from container ship MV Mozart in the Gulf of Guinea off West Africa on Jan. 23 have now been release, informs Borealis Maritime in an email to ShippingWatch. One seafarer died during the violent attack.....

Shipping Watch Published 3y-3mo-2d-2h-41m ago

Seaspan orders LNG-fueled container newbuilds

Seaspan has placed an order for ten container newbuilds capable of sailing on LNG, which will be chartered to Zim when delivered. The order is placed only shortly after Seaspan entered another contract for two mega vessels.....

Shipping Watch Published 3y-3mo-2d-2h-54m ago

Maersk Drilling CEO sees three major obstacles for strained drilling sector

Three significant problems characterize the hard pressed drilling sector from the get go of 2021. However, the fact that competitors have filed for Chapter 11 helps with one of the issues, says Maersk Drilling CEO, who reports of talk about consolidation among major industry players.....

Shipping Watch Published 3y-3mo-2d-3h-6m ago

Maersk points to four future fuels: Several barriers still need to be overcome

Maersk has now identified four fuels that will help the container line achieve its ambition of become carbon neutral by 2050. But several barriers must first be overcome before the fuels can be considered real alternatives.....

Shipping Watch Published 3y-3mo-2d-3h-58m ago

CMA CGM buys planes and establishes new air cargo division

French container line CMA CGM establishes a new logistics division dedicated to air freight. The plans include the purchase of four Airbus planes.....

Shipping Watch Published 3y-3mo-2d-4h-37m ago

Seadrill subsidiary settles forbearance agreement after parent company's Chapter 11 petition

A subsidiary under John Fredriksen amp 39 s Seadrill has secured a new forbearance agreement with some of its creditors. This agreement comes only days after its parent company filed for Chapter 11 in the US.....

Shipping Watch Published 3y-3mo-2d-5h-12m ago

Western Bulk says 2021 could bring best dry bulk market in years

Norwegian Western Bulk expects that the dry bulk market in 2021 will be the best in years, and the company reports increasing rates at the start of the year.....

Shipping Watch Published 3y-3mo-2d-5h-49m ago

Hafnia's partner in US methanol plant appeals environmental rejection

The environmental authorities amp 39 rejection of a planned, large scale methanol plant in the US, which has tanker carrier Hafnia as a co investor, has now been appealed to a higher court, the company tells ShippingWatch. Upon completion, Hafnia will transport a third of production to Asia.....

Shipping Watch Published 3y-3mo-2d-6h-23m ago

South Korea's biggest yards increase order target for green ships

Green transition and a growing number of rules mean that South Korea amp 39 s three biggest yards now dare to increase their order target for new ships in 2021. Some expect to bag almost 50 percent more orders, reports Yonhap.....

Shipping Watch Published 3y-3mo-2d-8h-37m ago

Dreadful year for drilling sector hits Maersk Drilling with billion dollar loss

Rig operator Maersk Drilling reports a billion dollar deficit for 2020 after a year hit by large oil price drops and the coronavirus pandemic. For 2021 the company expects a lower operating result.....

Shipping Watch Published 3y-3mo-2d-9h-29m ago

Eneti, formerly Scorpio Bulkers, sells five ships for USD 88 million

Monaco based Eneti, previously named Scorpio Bulkers, continues to sell ships from its fleet of dry bulkers. Most recently, five ships get new owners.....

Shipping Watch Published 3y-3mo-2d-10h-43m ago

ONE completes test of biofuel on the Atlantic

Container line ONE has for two months been testing biofuel on sailings across the Atlantic. Alternative fuels will be part of the company amp 39 s path to reducing greenhouse gas emissions.....

Shipping Watch Published 3y-3mo-2d-11h-28m ago

Eagle Bulk buys three new ships

Eagle Bulk will have a fleet of 52 ships in total after the new purchase of three new ships. The US based dry bulk operator has recently bought several ships from Scorpio.....

Shipping Watch Published 3y-3mo-3d-3h-3m ago

DSV Panalpina invests heavily in new 2025 strategy

Digitalization and optimization should help secure DSV Panalpina the ambitious yield announced in its new 2025 plan. DSV plans to achieve its target through large scale investment, and does not expect it to result in cuts to manpower, CFO Jens Lund tells ShippingWatch.....

Shipping Watch Published 3y-3mo-3d-3h-11m ago

DNB acknowledges overly generous loans to distressed offshore sector

Bank DNB is hit by big losses on its loans to the offshore sector, and the bank now acknowledges that it was, years ago, too generous with loans for the sector.....

Shipping Watch Published 3y-3mo-3d-4h-10m ago

BW Offshore impairs further and plans to invest in offshore wind

BW Group amp 39 s offshore company booked further impairments on its fleet in the fourth quarter due to market uncertainty. But the company also plans to invest in offshore wind.....

Shipping Watch Published 3y-3mo-3d-4h-59m ago

Brexit deal hampers UK exporters' freight across the Channel

Challenges in the wake of the Brexit trade agreement could impede British exporters from shipping goods to the EU, fears British trade organization.....

Shipping Watch Published 3y-3mo-3d-6h-27m ago

BW Offshore nedskriver igen og vil investere i havvind

BW gruppens offshoreselskab har i løbet af fjerde kvartal foretaget nedskrivninger på sin flåde i et usikkert marked. Til gengæld planlægger selskabet at investere i havvind.....

Shipping Watch Published 3y-3mo-3d-7h-2m ago

Around one in two Maersk ships arrive late – now Søren Skou wants to correct course

Bottlenecks in the container sector mean that Maersk amp 39 s ships are having amp 34 big problems amp 34 in terms of arriving on time, acknowledges CEO Søren Skou. The CEO has set an ambitious target for schedule reliability already this year.....

Shipping Watch Published 3y-3mo-3d-7h-44m ago

Equinor's international problems exposed yet again

amp 34 We amp 39 re not sufficiently robust within international oil and gas, amp 34 Equinor amp 39 s new CEO, Anders Opedal, acknowledges in the wake of the company amp 39 s fourth quarter interim statement, which confirms his appraisal.....

Shipping Watch Published 3y-3mo-3d-8h-44m ago

Odfjell expects slower beginning to 2021

2021 has started with continuing weak markets and high fuel costs for Odfjell. This is expected to impact results in the first quarter, where the company expects to bag a weaker result. 2020 finished with significant bottom line growth.....

Shipping Watch Published 3y-3mo-3d-9h-39m ago

Seadrill files for Chapter 11 in the US for the whole group

John Fredriksen amp 39 s rig operator Seadrill has now submitted a petition for Chapter 11 in the US for the whole group after applying for the same for a series of subsidiaries earlier this week.....

Shipping Watch Published 3y-3mo-3d-10h-32m ago

German terminal operator saw its result cut by EUR 100 million last year

The coronavirus pandemic made a big dent in the result at the largest terminal operator in the Port of Hamburg in 2020, which launched a cost cutting program towards the end of the year.....

Shipping Watch Published 3y-3mo-3d-10h-57m ago

Weak fourth quarter pushes Ardmore into the red

A deficit of USD 19.5 million in the fourth quarter helped turn a profit into a deficit for the full year for Irish product tanker operator Ardmore, which reports a loss of USD 6 million for 2020.....

Shipping Watch Published 3y-3mo-4d-2h-52m ago

DFDS is hesitant about earnings target from its growth plan

After significant setbacks in terms of revenue and earnings in 2020, DFDS now adjusts the targets of its ambitious growth plan. amp 34 We amp 39 re a little hesitant until we get to the other side of the pandemic and see the passenger side return, amp 34 CEO Torben Carlsen tells ShippingWatch.....

Shipping Watch Published 3y-3mo-4d-3h-18m ago

Maersk reports significantly increased prices in key contract negotiations

Rates in Maersk amp 39 s key contract negotiations are increasing big time, says Maersk CEO Søren Skou after the shipping line has fixed close to 40 percent of its new contracts for the year. At DSV Panalpina, CFO points to frustrated customers who are left footing the bill.....

Shipping Watch Published 3y-3mo-4d-3h-33m ago

Unifeeder and X-Press Feeders increase fleets by more than 20 percent since January

In 2021 so far the two major feeder lines Unifeeder and X Press Feeders have expanded their fleets by more than 20 percent. This is especially due to the fact that the feeder operators are getting more business from the bigger container lines, writes Alphaliner.....

Shipping Watch Published 3y-3mo-4d-4h-49m ago

Norway's DNB further reduces its loans to shipping

Norwegian bank DNB has again reduced its exposure to shipping and scaled back its lending portfolio by close to NOK 7 billion. Developments for the fourth quarter were stable, reports the bank.....

Shipping Watch Published 3y-3mo-4d-5h-48m ago

Media: Port operator assumes control of Lim family's crown jewel

An oil terminal, considered to be the crown jewel of the Lim family amp 39 s collapsed business empire, is now being taken over by a state owned port operator in Singapore, sources tell Reuters.....

Shipping Watch Published 3y-3mo-4d-6h-58m ago

Equinor finishes 2020 with fourth quarter deficit of USD 500 million

Norwegian energy major Equinor was hit by the low oil price in 2020, as both the revenue and result took a big dive. The company projects moderate growth in 2021, though the coronavirus is a joker.....

Shipping Watch Published 3y-3mo-4d-8h-25m ago

Maersk expects to earn even more money in 2021

A.P. Moeller Maersk expects to earn even more money in 2021 than in the red hot container market for 2020. The first quarter this year will be exceptionally strong, projects the company, after which the market is expected to normalize.....

Shipping Watch Published 3y-3mo-4d-10h-26m ago

DFDS expects to improve its revenue by upwards of 25 percent in 2021

Ferry and logistics operator DFDS projects significant top line growth in 2021 after a tough 2021 characterized by coronavirus and Brexit. This is expected to boost the operating profit by upwards of DKK 3.5 billion for the year.....

Shipping Watch Published 3y-3mo-4d-10h-32m ago

DSV Panalpina earns USD 1.5 billion on operations in pandemic year

DSV Panalpina lands an operating profit of USD 1.5 billion for 2020, which was largely characterized by the coronavirus. With the Panalpina acquisition fully integrated, the logistics company also announces a new financial target ahead of 2025.....

Shipping Watch Published 3y-3mo-4d-10h-48m ago

Two people have perished at shipbreaking yards in Turkey

Over the past months, two employees at shipbreaking yards in Turkey have perished during the work to dismantle a cruise ship and two rigs, NGO informs.....

Shipping Watch Published 3y-3mo-4d-10h-54m ago

Valaris nears a solution after reaching agreement with several creditors

Drilling company Valaris has reached agreement with several creditors regarding amendments to a potential rescue plan and is thus one step closer to an actual solutions after being under bankruptcy protection for months.....

Shipping Watch Published 3y-3mo-5d-2h-58m ago

Analyst expects to see Seadrill in Chapter 11 a few months from now

The likelihood of Seadrill ending up in Chapter 11 receivership is high, projects an analyst. Seadrill recently asked for help from US authorities to ensure a financial restructuring of several subsidiaries.....

Shipping Watch Published 3y-3mo-5d-3h-20m ago

Major container line deflates hopes of imminent resolution to container shortage

The significant challenges currently plaguing the container market with bottlenecks and equipment shortages will last several more months, says one of the world amp 39 s biggest container lines, HMM. This announcement comes just one day before Maersk is expected to address the situation in connecti....

Shipping Watch Published 3y-3mo-5d-3h-54m ago

Prosafe CEO is optimistic about 2021 despite USD 1 billion loss

Prosafe has lost more than USD 2 billion in five years, and the offshore company continues to be in talks with its creditors about a comprehensive rescue plan. And yet, CEO Jesper K. Andresen is optimistic about imminent market improvement.....

Shipping Watch Published 3y-3mo-5d-4h-32m ago

Hapag-Lloyd bags financing for six new container ships

Container line Hapag Lloyd has secured two agreements for financing the company amp 39 s investment in six new megamaxes, to be built in the coming years.....

Shipping Watch Published 3y-3mo-5d-5h-12m ago

Total withstands crisis with profit near USD 900m

The French oil giant stands out among major industry players with a solid profit in the fourth quarter. However, the coronavirus and oil price crises turned Total amp 39 s overall 2020 into a year the company would rather forget. Now it mulls a name change.....

Shipping Watch Published 3y-3mo-5d-7h-12m ago

Crew can soon go ashore after months aboard MSC ship

18 seafarers will at long last get solid ground under their feet this week after spending close to six months on board an MSC ship. The shipping line has sent the ship to Japan after spending months off the coast of China.....

Shipping Watch Published 3y-3mo-5d-8h-4m ago

Weak tanker market makes DHT push forward yard stays

Tanker operator DHT Holdings brings forward yard stays for its fleet of supertankers, as a consequence of the currently weak freight market. This comes after a fourth quarter in which the shipping company was able to book a profit despite a significant setback.....

Shipping Watch Published 3y-3mo-5d-9h-12m ago

Container lines blank fewer sailings than expected for Chinese New Year

The container lines have blanked 42 sailings in relation to the Chinese New Year, which begins this week. This is less than half as many as a year ago, writes Sea Intelligence.....

Shipping Watch Published 3y-3mo-5d-10h-19m ago

Seaspan expands fleet with order for two container newbuilds

The world amp 39 s largest shipowner, Seaspan Corporation, has ordered two new container ships with a capacity of 24,000 teu apiece. The ships are chartered out to a container line on 18 year contracts.....

Shipping Watch Published 3y-3mo-5d-11h-16m ago

Growth sidestepped DP World despite 71 million teu throughput

Port operator DP World handled 71.2 million teu in 2020. This corresponds to a growth of just 0.2 percent compared to 2019, but it was better than the market, says the company amp 39 s CEO.....

Shipping Watch Published 3y-3mo-6d-3h-16m ago

The EU's largest trade agreement to date fades out of sight with climate discussions

The much anticipated trade agreement between the EU and several South American countries currently risks years of postponement. Shipping is one of the sectors that was set to benefit from the Mercosur agreement. But climate considerations have thwarted this.....

Shipping Watch Published 3y-3mo-6d-3h-18m ago

New Nigerian naval chief issues warning to corrupt personnel

The Nigerian navy has gotten a new chief of naval staff, and he is prepared to take severe actions against employees who collaborate with amp 34 bandits, kidnappers and armed robbers, amp 34 writes security firm Dryad Global.....

Shipping Watch Published 3y-3mo-6d-3h-33m ago

CEO says offshore wind could become one of Norway's five top exports by 2030

Knut Vassbotn, CEO of newly established Deep Wind Offshore, has made the leap from the oil sector to what he considers one of Norway amp 39 s five biggest export successes ahead of 2030. The company expects to profit from a booming wind market.....

Shipping Watch Published 3y-3mo-6d-3h-59m ago

Norwegian Pro Fuels sold to Singapore company

Singapore based Sea Oil Petroleum acquires Norwegian bunker company Pro Fuels. As part of the agreement, a new company is established for the Pro Fuels employees to be transferred to.....

Shipping Watch Published 3y-3mo-6d-5h-49m ago

Maersk sues Glencore for bad bunker oil – wants million dollar compensation

Maersk accuses Glencore of having supplied low quality bunker for two of its container ships in 2018. The ships subsequently experienced engine problems, and Maersk wants millions of dollars in compensation for the damages.....

Shipping Watch Published 3y-3mo-6d-6h-19m ago

Seadrill files for Chapter 11 in the US for Asian subsidiaries

Seadrill has filed for Chapter 11 bankruptcy protection in the US for a series of Asian subsidiaries, in an effort to ensure the offshore company amp 39 s financial restructuring. The company also requests help from authorities to pay employees amp 39 wages.....

Shipping Watch Published 3y-3mo-6d-7h-21m ago

Oil price climbs above USD 60 per barrel

The oil price climbs to the highest level since the coronavirus crisis erupted in January 2020. According to a broker, this offers tanker operators a glimmer of hope after a 2020 with numerous ups and downs.....

Shipping Watch Published 3y-3mo-6d-8h-51m ago

China set to unload some stranded Australian coal amid ban

China plans to allow some stranded Australian coal shipments to unload in the country despite its ongoing import ban. The move should be seen as a goodwill gesture to countries with seafarers stranded rather than an ease of restrictions, says anonymous source.....

Shipping Watch Published 3y-3mo-6d-9h-15m ago

Maersk's acquisition "war chest" doubles in size to USD 20 billion

The booming container market has bolstered Maersk amp 39 s coffers so much that the company now has USD 20 billion to use on acquisitions, shows an analysis a few days before Maersk publishes its 2020 annual report. But analyst doubts that Maersk will be able to achieve its earnings target for logi....

Shipping Watch Published 3y-3mo-6d-9h-37m ago

NGO urges EU to include LNG and voyages outside the region in quota system

NGO Transport amp Environment now calls on the EU to include LNG and voyages outside the union, once shipping is inducted under the EU amp 39 s emissions trading system. The announcement comes on the day when the EU Commission amp 39 s consultation phase on the scheme expires.....

Shipping Watch Published 3y-3mo-1w-2d-3h-4m ago

Major bulk players have diligently purchased vessels from Scorpio's fire sale

Well known dry bulk players have been busy buying vessels from Scorpio Bulkers amp 39 fire sale in connection with the shipping company amp 39 s exit from dry bulk. Several of Scorpio Bulkers amp 39 vessels will change hands over the coming months.....

Shipping Watch Published 3y-3mo-1w-2d-4h-5m ago

Scandlines has to postpone its climate target

2021 will not be the year in which Scandlines can advertise completely CO2 neutral ferry operations between Rødby in Denmark and Germany amp 39 s Puttgarden, as the company had otherwise said. The power is too expensive, explains Scandlines. At the same time, Stena Line announces that it will orde....

Shipping Watch Published 3y-3mo-1w-2d-4h-21m ago

Bunker supplier Peninsula adds LNG to its offering

Going forward, Peninsula will add LNG to its marine fuel offering. Meanwhile, the bunker supplier reports of increased investments in green solutions.....

Shipping Watch Published 3y-3mo-1w-2d-5h-48m ago

Banks face major losses on Hin Leong after potential buyers have withdrawn

Banking majors are set to lose big on commodity trader Hin Leong if they cannot find a buyer for the company. Most recently, three potential bidders have withdrawn, reports Bloomberg.....

Shipping Watch Published 3y-3mo-1w-2d-6h-45m ago

CMA CGM to expand US headquarters

Container line CMA CGM plans an expansion of its US headquarters, which will create 400 new jobs in the State of Virginia, where the office is located. The expansion entails an investment in the range of USD 36 million.....

Shipping Watch Published 3y-3mo-1w-2d-8h-16m ago

Euronav is ready to deploy USD 700 million

Belgian tanker company Euronav has the option to deploy USD 700 million to be used on, for example, new tanker purchases. CEO sees a tough tanker market continue into the second half year and hopes for increased scrapping activity in the sector.....

Shipping Watch Published 3y-3mo-1w-2d-9h-4m ago

Vale to pay USD 7 billion for one of the worst ever mine disasters

Brazilian mining major Vale has reached a settlement with the Brazilian authorities totaling USD 7 billion for the catastrophe two years ago when a dam collapsed, killing 270 people.....

Shipping Watch Published 3y-3mo-1w-2d-9h-48m ago

Cartel case has cost Wallenius Wilhelmsen USD 485 million in total

Thursday, Australia sentenced ferry operator Wallenius Wilhelmsen to pay a fine of USD 18 million for its involvement in a large scale cartel case, bring the company amp 39 s total realized losses to USD 485 million. Yesterday amp 39 s sentencing marked the end of the authorities amp 39 cases ag....

Shipping Watch Published 3y-3mo-1w-2d-10h-19m ago

Seadrill gets another extension on payments to creditors

Rig operator Seadrill has reached an agreement with its creditors, which gives the company a temporary breather in its efforts to settle a comprehensive restructuring.....

Shipping Watch Published 3y-3mo-1w-2d-10h-45m ago

Hamburg Süd appoints new CEO

After more than 20 years at Maersk owned container line Hamburg Süd, Dr. Arnt Vespermann leaves the company and thus steps down as CEO. His replacement has been found internally.....

Shipping Watch Published 3y-3mo-1w-3d-2h-35m ago

Stolt Tankers' new CFO will help pursue a listing for the company

Stolt Tankers has appointed a new CFO, who will help prepare the company amp 39 s initial public offering. The new CFO has previously worked at oil companies such as Shell and Dyas.....

Shipping Watch Published 3y-3mo-1w-3d-3h-12m ago

Scrap yards disagree with Maersk: Plenty of space at approved EU shipbreakers

That there should be a lack of space at the European shipbreaking facilities, as Maersk claims, does not fit with the reality, says the chairman of European Ship Recyclers, Peter Wyntin, to ShippingWatch.....

Shipping Watch Published 3y-3mo-1w-3d-3h-23m ago

Danske Bank expects new losses on offshore

Danske Bank expects further losses on loans to shipping and offshore, even though the major bank reduced its exposure to the sectors in 2020. Oil and gas customers in particular are challenged. Competitor Nordea reports a slower market.....

Shipping Watch Published 3y-3mo-1w-3d-4h-27m ago

Up to 30,000 vessels may be non-compliant with the new EEXI regulation

Shipowners are already reviewing their fleets, calculating how each vessel complies with the upcoming and rather complex EEXI index. DNV GL tells ShippingWatch that upwards of 30,000 vessels may have to install or adjust technologies or switch fuels.....

Shipping Watch Published 3y-3mo-1w-3d-5h-26m ago

Prosafe doubles its deficit in 2020 to USD 950 million

Hotel rig company Prosafe more than doubled its deficit last year, which is largely attributed to a weak market. The strained company continues to negotiate with its creditors to land a rescue plan, states interim report.....

Shipping Watch Published 3y-3mo-1w-3d-6h-6m ago

Euronav CEO awaits normalization of global oil markets after tough months

The global oil consumption needs to be normalized in order for a notable improvement to emerge for tanker operators, says Euronav CEO Hugo de Stoop. The fourth quarter brought one of the most challenging markets in modern times and a big deficit.....

Shipping Watch Published 3y-3mo-1w-3d-8h-21m ago

Fjord Line's new CEO inherits a million lost passengers and a tough crisis

Fjord Line lost one million passengers in 2020 due to the Covid crisis and is working on a refinancing plan. The company maintains its growth plan entailing a new catamaran ferry worth NOK 700 million, new CEO tells ShipingWatch.....

Shipping Watch Published 3y-3mo-1w-3d-8h-46m ago

Congestion in Los Angeles spreads to nearby ports

The massive traffic problems plaguing container ports on the US West Coast have spread to nearby ports, informs Hapag Lloyd. And weather has started to trouble other major US ports.....

Shipping Watch Published 3y-3mo-1w-3d-9h-24m ago

Navig8 Chemical Tankers sells five vessels with leaseback agreements

Tanker company Navig8 Chemical Tankers sells five vessels through so called sale and leaseback agreements. The company entered a similar agreement last year.....

Shipping Watch Published 3y-3mo-1w-3d-11h-1m ago

Alfa Laval's orderbook shrinks due to lower newbuild activity

The number of newbuilds on order is declining and this affects the order intake at Alfa Laval, which supplies equipment and pump systems to the maritime industry.....

Shipping Watch Published 3y-3mo-1w-3d-11h-18m ago

Analyst firm: Crude oil demand may have peaked in 2019

The crude market will come under pressure in 2021 and going forward, assesses analyst firm McQuilling Services. Demand for crude oil may have peaked in 2019, posing a challenge to the VLCC market.....

Shipping Watch Published 3y-3mo-1w-4d-3h-14m ago

Evergreen orders upwards of 20 new ships

Taiwan based Evergreen is building up its capacity big time with an alleged order for upwards of 20 new ships, set to be built at four different yards. The shipping line amp 34 places orders or charters ships as appropriately when required by the market, amp 34 it says.....

Shipping Watch Published 3y-3mo-1w-4d-3h-41m ago

Biden's administration makes Ørsted CEO optimistic about approval in the US

Ørsted has now waited longer for an approval in the US than the company had hoped, but signs from the Biden administration have renewed the company amp 39 s optimism, says CEO Mads Nipper. amp 34 Processes are now in motion. amp 34 ....

Shipping Watch Published 3y-3mo-1w-4d-4h-5m ago

Why should new crew change alliance make a difference in 2021 when politicians remained mute in 2020?

Does the unity of some of the most influential global companies to secure the wellbeing of seafarers matter, when the world amp 39 s politicians heard their pledges loud and clear in 2020 and still did little to resolve it ShippingWatch has interviewed one of the Neptune Declaration signatories.....

Shipping Watch Published 3y-3mo-1w-4d-4h-37m ago

MSC ship loses containers en route to China

A container ship owned by shipping line MSC is now the last in line of large ships to drop containers in stormy weather in the Pacific. Maersk and ONE have reported similar incidents in recent months.....

Shipping Watch Published 3y-3mo-1w-4d-5h-35m ago

Frustrated Maersk wants EU speed up approval of shipbreaking in India

Maersk does not understand why the Basel Convention has suddenly slowed the work to approve Indian shipbreaking facilities. Recycling within the EU is challenging, says head of regulatory affairs.....

Shipping Watch Published 3y-3mo-1w-4d-6h-32m ago

Congestion in major ports hits container lines with loss of revenue

Container lines are losing revenue on the massive traffic problems in ports across the globe. Routes from China to the US West Coast alone trigger double digit million dollar losses.....

Shipping Watch Published 3y-3mo-1w-4d-7h-53m ago

DSV Panalpina gets highest rating from Moody's

Transport and logistics major DSV Panalpina receives the highest credit rating from Moody amp 39 s. The rating amp 34 strengthens DSV amp 39 s financing platform, amp 34 says CFO.....

Shipping Watch Published 3y-3mo-1w-4d-9h-41m ago

Iran releases crew of South Korean tanker

The crew of South Korean tanker vessel Hankuk Chemi, which has been detained in Iran for almost a month, is free to leave the vessel and return home, says a spokesman for Iran amp 39 s ministry of foreign affairs.....

Shipping Watch Published 3y-3mo-1w-4d-10h-54m ago

Dorian LPG to buy back shares for USD 100 million

Gas ship operator Dorian LPG finished 2020 with a solid profit, and this makes the company launch a share buyback program for USD 100 million.....

Shipping Watch Published 3y-3mo-1w-4d-11h-20m ago

The European shipbuilding industry can expect more layoffs and a lower order book

The coronavirus crisis has been tough on the already strained shipyard industry, and in Europe this will mean more years with a low order book and more layoffs, says Kjersti Kleven, chairman of shipbuilding association Sea Europe. And yet, prices do not appear to have gone down, says Clarksons Resea....

Shipping Watch Published 3y-3mo-1w-5d-3h-12m ago

Scorpio Bulkers sells seven ships to Star Bulk as part of exit from dry bulk

Monaco based Scorpio Bulkers has sold seven ships to Greek Star Bulk Carriers, and put another 25 ships up for sale as part of its exits from the dry bulk sector, says the company in its latest interim report.Sc....

Shipping Watch Published 3y-3mo-1w-5d-3h-19m ago

MPC Container Ships has settled new charter deals for 41 ships

MPC Container Ships has used the strong container market to settle new charter deals for a majority of its fleet. The shipowner has also been active in buying and selling ships.....

Shipping Watch Published 3y-3mo-1w-5d-4h-11m ago

Shipowners split their fleets up in two according to new carbon efficiency requirements

Shipowners have started to review their fleets and sort them according to efficiency and how much carbon they emit, as required by the new EEXI index introduced by the IMO. Two solutions in particular are expected to come into play.....

Shipping Watch Published 3y-3mo-1w-5d-4h-45m ago

Maersk Supply Service appoints new CFO

Maersk amp 39 s offshore carrier Maersk Supply Service appoints a new CFO, who will start in March. The new finance chief was found internally at Maersk and has previously worked at the offshore carrier.....

Shipping Watch Published 3y-3mo-1w-5d-5h-48m ago

BP lost USD 5.7 billion last year

BP finished 2020 with a small profit but suffered a massive loss for the full period. Covid 19 and low prices forced the British firm to book major impairments, weighing down on the result.....

Shipping Watch Published 3y-3mo-1w-5d-7h-3m ago

FMC urges Biden to prioritize vaccines for maritime employees

The Federal Maritime Commission now asks US President Joe Biden to prioritize vaccinating people working in the country amp 39 s maritime sector.....

Shipping Watch Published 3y-3mo-1w-5d-7h-45m ago

More than 400 ships ended up on the beaches of South East Asia last year – 10 workers were killed

The beaching yards in India, Pakistan and Bangladesh were also the shipping companies amp 39 favorite cemetery for their end of life vessels in 2020. More than 400 ships wound up on the beaches, and at least 10 people were killed while dismantling the ships.....

Shipping Watch Published 3y-3mo-1w-5d-8h-10m ago

Offshore supplier terminates all employees and sells vessels

Polarcus, listed on the Oslo Stock Exchange, no longer has the support of its lenders and has therefore been told to sell all vessels and terminate all employment contracts.....

Shipping Watch Published 3y-3mo-1w-5d-10h-10m ago

Bulk carriers head into record year for grain and soy product transports to China

The significant grain exports from the US to China last year is expected to continue in 2021, while Brazilian soybean production is set to grow nearly 5 percent this year. Improvements in iron ore and coal exports herald a good year for dry bulk carriers, assesses Arrow Research.....

Shipping Watch Published 3y-3mo-1w-5d-10h-24m ago

PIL secures approval for life-saving rescue plan

Pacific International Lines just received creditor approval for the rescue plan that is supposed to inject USD 600 million in capital from the Singaporean state into the container line, which has called this plan its last resort. The Teo family now owns less than 15 percent.....

Shipping Watch Published 3y-3mo-1w-6d-2h-59m ago

Maritime battery supplier expands with production of fuel cells

Corvus Energy, which produces batteries for the maritime sector, expands its activities with production of hydrogen based fuel cells. The company has signed a deal with Toyota, which will become a key supplier.....

Shipping Watch Published 3y-3mo-1w-6d-3h-28m ago

Authorities are trying free kidnapped seafarers from Hapag-Lloyd-chartered vessel

The 15 crew members kidnapped from container ship MV Mozart in the Gulf of Guinea on Jan. 23 are unharmed. Negotiations are ongoing with the pirates to secure the release of the crew, Borealis Maritime informs ShippingWatch.....

Shipping Watch Published 3y-3mo-1w-6d-3h-48m ago

Biggest gateway for US imports hit by record ship bottleneck

Ship congestion off the twin ports of Los Angeles and Long Beach has now reached an unprecedented level, with some vessels now having to wait at sea in so called drift zones until anchorages become available.....

Shipping Watch Published 3y-3mo-1w-6d-4h-22m ago

Nordea and Danske Bank have more than USD 25 billion in oil, coal and gas

Major banks Nordea and Danske Bank have investments and loans totaling more than USD 25 billion exposed to oil, coal and gas, shows a new report from NGOs, reports Jyllands Posten Erhverv.....

Shipping Watch Published 3y-3mo-1w-6d-4h-56m ago

Seadrill's forbearance agreement with creditors expires

John Fredriksen amp 39 s Seadrill sees a forbearance agreement with its creditors expire. The company faces a comprehensive restructuring.....

Shipping Watch Published 3y-3mo-1w-6d-6h-9m ago

Media: Exxon and Chevron discussed merger

The CEOs of the US amp 39 two largest oil companies spoke about the possibility of carrying out one the largest corporate mergers ever last year, reports The Wall Street Journal.....

Shipping Watch Published 3y-3mo-1w-6d-7h-16m ago

Eagle Bulk vessel attacked by pirates off Ghana

A ship from Eagle Bulk has been attacked by pirates near Ghana. The crew is safe in the ship amp 39 s citadel, reports security firm Dryad Global. Dryad Global expects that desperation after several unsuccessful attempts could lead to even more attacks.....

Shipping Watch Published 3y-3mo-1w-6d-8h-11m ago

Concordia CEO fears new ship ordering rush in product tanker

Concordia Maritime CEO Kim Ullman calls on competitors in product tanker to resist the temptation to order new ships right now. amp 34 We have to refrain from ordering newbuilds in order to bring the market back in balance, amp 34 he tells ShippingWatch.....

Shipping Watch Published 3y-3mo-1w-6d-8h-43m ago

More than half of the world's container ships arrived late in December

A growing number of container ships arrive late, show new data from Sea Intelligence. In December, less than half of the ships arrived in ports on time. And there are no prospects of improvement before the second quarter, says the analyst firm.....

Shipping Watch Published 3y-3mo-1w-6d-10h-37m ago

Dof extends respite with creditors in limbo ahead of rescue plan

Norwegian offshore ship operator Dof will not have to pay installments and interest on most of its debt until the end of April. The company amp 39 s finances are severely strained, and it is working to settle a long term restructuring.....

Shipping Watch Published 3y-3mo-1w-6d-11h-10m ago

Gas ship operator launches world's largest LNG ship type

A London based gas ship operator will soon take delivery of the so far largest ship in the world that can both transport LNG and supply LNG as ship fuel.....

Shipping Watch Published 3y-3mo-2w-2d-3h-26m ago

Analyst firm: Stable rates make projected Maersk earnings look conservative

The continued high rates for container freight now make analysts amp 39 expectations for Maersk amp 39 s operating income in 2021 look conservative, assesses analyst firm Jefferies.....

Shipping Watch Published 3y-3mo-2w-2d-3h-28m ago

ONE earns nearly one billion dollars in lucrative container market

Ocean Network Express, like its competitors, has benefited from towering rates, which were turned into a profit close to USD 1 billion in the last quarter of 2020. However, far from all containers are shipped at record rates, notes shipping analyst.....

Shipping Watch Published 3y-3mo-2w-2d-4h-50m ago

Keppel splits offshore business in two and bets on green solutions

Singapore based yard group Keppel Offshore amp Marine, one of the world amp 39 s biggest suppliers of oil rigs, wants to divest its rig business and instead focus on construction of infrastructure and assets in renewable energy.....

Shipping Watch Published 3y-3mo-2w-2d-5h-34m ago

Navigare expands its fleet with the purchase of new tankers

Navigare Capital Partners, which is funded by Danish pension companies and has Robert Mærsk Uggla as an owner, buys two newer tankers. The company now owns 23 vessels across its two funds.....

Shipping Watch Published 3y-3mo-2w-2d-6h-29m ago

Two of Scandinavia's biggest banks now own ten offshore vessels

Banking majors SEB and DNB have become joint owners of ten offshore vessels. The purchase was made after a bankruptcy of Scorpio company, in which the banks were lenders, and serves as another example of creditors amp 39 entry into ownership in offshore.....

Shipping Watch Published 3y-3mo-2w-2d-7h-43m ago

APM Terminals boosts green transition for US container terminal

APM Terminals amp 39 container terminal in Port Elizabeth will work to reduce its carbon emissions by 45 percent in the coming year by using solar power and wind energy.....

Shipping Watch Published 3y-3mo-2w-2d-8h-33m ago

Scan Global makes acquisition in North America

Logistics company Scan Global Logistics makes a new acquisition, which according to CEO Allan Melgaard expands its presence in Mexico, China and North America.....

Shipping Watch Published 3y-3mo-2w-2d-9h-23m ago

Zim debuts on New York Stock Exchange with big drop

Container line Zim amp 39 s stock market debut in New York on Thursday did not get off to a great start, as the share begins with a drop.....

Shipping Watch Published 3y-3mo-2w-2d-10h-42m ago

Bimco sees imbalance in supply chains continuing into 2021

The current imbalance in the global logistics and supply chain will continue despite decreasing container rates, projects Bimco.....

Shipping Watch Published 3y-3mo-2w-2d-11h-7m ago

Tough fourth quarter sends Concordia Maritime into the red for 2020

Concordia Maritime earned a lot of money in the spring, but when the oil price war ended, rates and demand went down. This hit the Swedish product tanker operator with a full year deficit for 2020. The tanker market is not expected to recover before the second half of 2021.....

Shipping Watch Published 3y-3mo-2w-3d-2h-53m ago

2020 Bulkers continues its streak of booking solid profits

For the fifth consecutive quarter, dry bulk carrier 2020 Bulkers delivers a solid profit, which particularly benefits the company amp 39 s shareholders.....

Shipping Watch Published 3y-3mo-2w-3d-3h-23m ago

Multi-purpose operators benefit from offshore wind and red-hot container market

What had the potential to become another disappointing year for the specialized cargo and heavy lift carriers in mid 2020, turned out to be a surprisingly good year. ShippingWatch has interviewed the CEOs of AAL and United Heavy Lift about the current market.....

Shipping Watch Published 3y-3mo-2w-3d-4h-11m ago

Big freight rate increases could boost Maersk's operating profit in first quarter

Maersk is likely headed for an operating profit of more than USD 6 billion in the first three months of the year and USD 10 billion for 2021 as a whole, projects Clarksons Platou Securities. A quarterly increase of 50 percent in freight rates could boost the operating profit.....

Shipping Watch Published 3y-3mo-2w-3d-4h-39m ago

Easier crew changes compensate for sliding rates at Stolt-Nielsen's tanker operator

Toward the end of 2020, the burden of crew changes eased a bit, and this benefited chemical tanker operator Stolt Tankers at a time when tanker volumes were under pressure. The start of the year was challenging, but the shipping company remains positive about the longer term prospects.....

Shipping Watch Published 3y-3mo-2w-3d-6h-22m ago

Departing Wärtsilä CEO puts faith in vaccine roll-outs after tough 2020

Order intake plunged almost 30 percent in the fourth quarter for Wärtsilä in an overall tough 2020 for the supplier. Early 2021 looks challenging, though the vaccine roll out is expected to have a positive impact later in the year.....

Shipping Watch Published 3y-3mo-2w-3d-7h-49m ago

Here is Joe Biden's executive order set to double offshore wind by 2030 and make shipping greener

US President Joe Biden increases pressure on the shipping sector, which will be made greener. Specifically, he also sets a target of doubling US energy production from offshore wind by 2030. Read the full executive order here.....

Shipping Watch Published 3y-3mo-2w-3d-9h-1m ago

Dan-Bunkering case to commence in October - court earmarks 18 court days

Dates have now been set for the case concerning Dan Bunkering amp 39 s alleged breach of EU sanctions against selling jet fuel to Syria, where the prosecutor is pursuing a prison sentence for the CEO. The oil group denies all allegations but looks forward to the case being presented in court.....

Shipping Watch Published 3y-3mo-2w-3d-10h-9m ago

Zim lowers its equity offering and price target in IPO

Container line Zim has decided to sell fewer shares at a lower price in its New York IPO.....

Shipping Watch Published 3y-3mo-2w-3d-10h-33m ago

Container lines use lucrative 2020 to pay down debt and not on new ships and acquisitions

The major European container lines spend the profits from the lucrative year 2020 on improving their debt and capital structures rather than on ordering new ships and making acquisitions, writes Alphaliner.....

Shipping Watch Published 3y-3mo-2w-3d-11h-22m ago

EU working with several models for including shipping in quota system

There are several models for including shipping in the EU Emission Trading System in play, says the director of DG Clima. Solutions range from gradual to rapid phasing in. European shipowners prefer the former, but they warn against the plans.....

Shipping Watch Published 3y-3mo-2w-4d-2h-59m ago

Bunker Holding closes subsidiary's London office after tough year

A rough and unusual year means that Bunker Holding will have to make cuts to some of its services, now closing the London office of LQM Petroleum Services, a subsidiary of Bunker Holding. Activities will instead transfer to a US office.....

Shipping Watch Published 3y-3mo-2w-4d-3h-24m ago

Massive congestion in Long Beach is the wild card in the container sector

The large buildup of container ships off Long Beach and Los Angeles is having a ripple effect throughout the container sector, where an alliance has recently heralded canceled sailings. The bottlenecks are the wild card that will decide when the market normalizes, say Flexport and shipping analyst.....

Shipping Watch Published 3y-3mo-2w-4d-4h-8m ago

Wan Hai orders 12 container newbuilds and gains ground on competitor

Taiwan based Wan Hai Lines orders 12 new smaller container ships. This pushes the company a step towards taking over Zim amp 39 s position as the world amp 39 s 10th largest container line, says shipping analyst Lars Jensen.....

Shipping Watch Published 3y-3mo-2w-4d-4h-51m ago

Oldendorff joins development of rotor sails for dry bulk ships

Germany amp 39 s Oldendorff joins a project that tests vertical rotor sails on large dry bulk ships. The goal is to map barriers for the commercial use of the technology.....

Shipping Watch Published 3y-3mo-2w-4d-6h-11m ago

Jeff Bezos' fund is part of new association for more climate-friendly freight

A new partnership with money from, among others, Amazon founder Jeff Bezos amp 39 fund aims to speed up the green transition of the freight sector, including emissions from shipping. Ørsted and the companies gathered in the Getting to Zero Coalition also participate.....

Shipping Watch Published 3y-3mo-2w-4d-7h-20m ago

Keld Demant steps down as chairman of Global Risk ahead of strategy change

USTC amp 39 s risk management company Global Risk Management is working on a new strategy. In this regard, Keld R. Demant steps down as chairman of the company. The new chairman is already a member of the board.....

Shipping Watch Published 3y-3mo-2w-4d-8h-23m ago

Nicolas Sartini gets new job after leaving CMA CGM

Nicolas Sartini recently left CMA CGM after many years heading several of the group amp 39 s businesses. Now he will start a new job where he will maintain some of these ties.....

Shipping Watch Published 3y-3mo-2w-4d-8h-53m ago

Hapag-Lloyd reports operating profit of USD 3 billion in pandemic year

Container line Hapag Lloyd reports a result amp 34 significantly above amp 34 last year despite the coronavirus outbreak across the globe. The operating profit lands at slightly above USD 3 billion, show the preliminary figures for 2020.....

Shipping Watch Published 3y-3mo-2w-4d-10h-23m ago

DFDS' new major acquisition comes after years of courting the owner family

DFDS amp 39 large scale acquisition of Dutch HSF Logistics has been years in the making, as the Danish shipping group has been courting the owner family. DFDS has not faced competitors in the process, and CEO Torben Carlsen says the company is paying an attractive price.....

Shipping Watch Published 3y-3mo-2w-4d-10h-28m ago

IMF upgrades its global growth forecast

The IMF sees the world headed for a strong recovery following the downturn in 2020, and it thus upgrades its forecast for global growth this year.....

Shipping Watch Published 3y-3mo-2w-5d-3h-9m ago

United Heavy Lift establishes joint venture with Zech Fond for new ships

Multipurpose carrier United Heavy Lift establishes a joint venture with the wealthy foundation Gustav Zech Fond, which contributes the ships the shipping company has chartered for 14 years. The Zech name is not new in the specialized cargo sector.....

Shipping Watch Published 3y-3mo-2w-5d-3h-19m ago

MAN to supply engines for Hapag-Lloyd's new mega-ships

Engine manufacturer MAN Energy Solutions has been tasked with providing engines for Hapag Lloyd amp 39 s new series of mega ships, which are meant to be able to sail on LNG.....

Shipping Watch Published 3y-3mo-2w-5d-3h-40m ago

Hapag-Lloyd believes that container demand will remain high for the next six months

Uffe Østergaard, president of Hapag Lloyd America, describes 2020 in the container industry as hectic, surprising and challenging. He expects the demand will remain high for another half year.....

Shipping Watch Published 3y-3mo-2w-5d-4h-15m ago

Maersk Tankers venture now has 1,300 ships linked to its platform

Digital company Zeronorth, owned by founder Maersk Tankers and commodity trader Cargill, now has 1,300 ships linked to its platform, CEO tells Børsen.....

Shipping Watch Published 3y-3mo-2w-5d-5h-7m ago

BP drastically cuts oil exploration

The number of employees working to find new oil with British giant BP has diminished noticeably.....

Shipping Watch Published 3y-3mo-2w-5d-6h-15m ago


Sveaas' investment firm becomes one of the major owners of Trøim's Borr Drilling

Through investment firm Kistefos, Christen Sveaas has now become one of the biggest owners of Borr Drilling with a stake almost as big as that of founder Tor Olav Trøim, writes Dagens Næringsliv.....

Shipping Watch Published 3y-3mo-2w-5d-7h-59m ago

Diamond Offshore announces comprehensive restructuring plan

Yet another rig operator announces a comprehensive restructuring plan. This time, Diamond Offshore expects to soon leave US Chapter 11.....

Shipping Watch Published 3y-3mo-2w-5d-8h-46m ago

DFDS buys Dutch logistics company with 1,800 employees

Ferry and logistics operator DFDS buys company HSF Logistics, which provides cold chain logistics, for EUR 296 million. The company has an annual revenue of DKK 2.8 billion and 1,800 employees. The acquisition opens up for new growth opportunities, says CEO.....

Shipping Watch Published 3y-3mo-2w-5d-9h-17m ago

Shipping heavyweights join forces to solve crisis of stranded seafarers

More than 300 companies and organizations join forces in an initiative aimed at solving the crisis of stranded seafarers as quickly as possible. V.Group, BP, Cargill, BW Group and Trafigura are just some of the names involved, along with major shipping lines such as Maersk, Hapag Lloyd, MSC, Cosco, ....

Shipping Watch Published 3y-3mo-2w-5d-9h-55m ago

Maersk Broker in partnership with platform for alternative ship financing

Several major brokers, including Maersk Broker and SSY enter partnership with Infinity Maritime, which offers financing of smaller stakes in commercial vessels such as bulkers, tankers and container ships.....

Shipping Watch Published 3y-3mo-2w-6d-3h-27m ago

Unemployed supertankers are about to get junked on Asia's beaches

The coronavirus pandemic is paralyzing the market for VLCC supertankers, and the result is likely to be a surge in scrapping of the large vessels on the beaches in Southeast Asia.....

Shipping Watch Published 3y-3mo-2w-6d-3h-37m ago

Odfjell Drilling signs million-dollar contract with Lundin Energy

Odfjell Drilling and Lundin Energy have entered a declaration of intent for vessel Deepsea Stavanger, reports Finansavisen.....

Shipping Watch Published 3y-3mo-2w-6d-4h-8m ago

What is going on with Pacific Basin and Nordic CEOs?

Martin Fruergaard becomes the third Nordic CEO to head Hong Kong based dry bulk shipping company Pacific Basin since 2000. Why has the company again picked a Scandinavian And why Fruergaard, the chief executive of a gas ship operator ....

Shipping Watch Published 3y-3mo-2w-6d-4h-21m ago

Bunker supplier Peninsula expands in North Europe

Peninsula Petroleum expands its bunker business in North Europe with a new supply location in Skaw, Denmark.....

Shipping Watch Published 3y-3mo-2w-6d-5h-44m ago

Bunker Holding company sees fierce competition after oil price plunge

2020 was a dramatic and tough year for bunker supplier Glander International Bunkering. The oil plunge created tailwinds for smaller players in particular, and Glander International Bunkering thus hopes for increasing oil prices in 2021, CEO tells ShippingWatch.....

Shipping Watch Published 3y-3mo-2w-6d-6h-26m ago

Shippers with "low-value" goods hit hardest by soaring rates

Shippers sending the cheapest goods are hit the hardest by the towering container rates. There are too few containers and too little space on the ships, and shippers with amp 34 high value amp 34 commodities will push those with amp 34 low value amp 34 goods aside, writes Sea Intelligence.....

Shipping Watch Published 3y-3mo-2w-6d-7h-29m ago

Shippers and freight forwarders: EU to discuss red-hot container market with US and China

The EU has informed European shippers and freight forwarders that the container lines amp 39 currently huge price increases are not enough to launch an investigation into competition conditions. But the EU would like to discuss the market situation with competition authorities in the US and China,....

Shipping Watch Published 3y-3mo-2w-6d-9h-5m ago

OOIL raises USD 120 million for new ships and containers

Cosco owned OOIL raises USD 120 million through a share issue. The money will be used to finance ships currently under construction, and to buy containers.....

Shipping Watch Published 3y-3mo-2w-6d-10h-22m ago

One killed and 15 seafarers kidnapped in pirate attack on container ship in the Gulf of Guinea

The pirate attack Saturday on container ship MV Mozart in the Gulf of Guinea took a violent turn, informs security firm Dryad Global: On crew member was allegedly killed and 15 kidnapped by the pirates.....

Shipping Watch Published 3y-3mo-2w-6d-11h-8m ago

Seaspan brings in USD 200 million from sustainbility-linked bonds

Shipowner Seaspan makes its debut on the Nordic bond market, bringing in USD 200 million in fresh capital. The funds come from Seaspan amp 39 s issuance of so called sustainability linked bonds.....

Shipping Watch Published 3y-3mo-3w-2d-2h-50m ago

A new motorized bow turns tugboats into icebreakers

A removable electric bow is now in operation on a tug boat in Finland in a pilot project testing the efficiency of the technology. The bow can potentially turn ice strengthened vessels into icebreaker vessels for the winter season. ....

Shipping Watch Published 3y-3mo-3w-2d-3h-20m ago

Black Lives Matter stirred up a dilemma for the president of Hapag-Lloyd America

Civil rights movement Black Lives Matter raised a difficult dilemma for Uffe Østergaard, president of Hapag Lloyd America, in 2020 and constituted a greater leadership challenge than the coronavirus pandemic. Should he address it internally in the organization or not ....

Shipping Watch Published 3y-3mo-3w-2d-3h-30m ago

Kristian Siem loses ownership control of Siem Offshore

Siem Offshore has now its settled comprehensive and much awaited rescue plan. The plan means that the large investor Kristian Siem loses ownership control of the hard strained offshore ship operator.....

Shipping Watch Published 3y-3mo-3w-2d-3h-58m ago

DB Schenker resumes freight to UK – DHL suspends some freight in the other direction

Freight forwarder DB Schenker is yet again transporting goods from the EU to the UK after customs difficulties led the company to temporarily halt its service. Meanwhile, DHL suspends some of its freight modes in the other direction due to challenges.....

Shipping Watch Published 3y-3mo-3w-2d-5h-2m ago

MSC fired warning shot to ward off presumed pirate attack

Shipping line MSC was able to deter what could have presumably developed into a pirate attack. A boat was approaching an MSC container ship, but a warning shot made it turn away. The crew is safe.....

Shipping Watch Published 3y-3mo-3w-2d-6h-33m ago

Borr Drilling raises millions after securing approval for rescue plan

Rig operator Borr Drilling, which recently secured support for a rescue plan, raises USD 46 million through a share issue that represents a key condition for the rescue plan.....

Shipping Watch Published 3y-3mo-3w-2d-8h-40m ago

V.Group replaces CEO of ship management unit

Franck Kayser steps down as CEO of V.Group amp 39 s ship management activities to instead serve as managing director of the company amp 39 s Danish business. V.Group has found his replacement at rival.....

Shipping Watch Published 3y-3mo-3w-2d-10h-25m ago

New NGO to enforce standards created by Rightship and Intercargo

Organizations Rightship and Intercargo have joined forces to create new industry standards. A newly founded NGO will work to enforce the standards in safety, environment and operations, which are also supported by the International Chamber of Shipping.....

Shipping Watch Published 3y-3mo-3w-2d-10h-43m ago

Prosafe reaches deal with oil company after canceled contract

Hotel rig operator Prosafe, which is still in talks with creditors for a rescue plan, has now entered a compensation agreement with an oil company after a canceled contract.....

Shipping Watch Published 3y-3mo-3w-2d-11h-25m ago

Maersk exec: "We have seafarers that are afraid of pirates – that shouldn't be the case in 2021"

If the pirates in the Gulf of Guinea are to be dealt with, seafaring nations must band together and copy the almost ten years old approach from the Gulf of Aden, says Maersk amp 39 s head of safety. Security analyst agrees. Maersk has reached out to Hapag Lloyd and CMA CGM.....

Shipping Watch Published 3y-3mo-3w-3d-3h-39m ago

Maersk ship is latest example of remarkable container losses in the Pacific

For the second time in just a short period, a container ship has lost a large number of containers in the Pacific. A Maersk ship is the latest example, and the incidents are noteworthy, says shipping analyst.....

Shipping Watch Published 3y-3mo-3w-3d-3h-57m ago

Maersk is looking into the possibility of vaccinating its employees

Maersk is one of several large Danish companies that are now examining the options for vaccinating its employees working outside Denmark.....

Shipping Watch Published 3y-3mo-3w-3d-3h-59m ago

Alba Tankers has bought new ships and made USD 16 million in five years

Tanker operator Alba Tankers, which was created out of OW Bunker amp 39 s dramatic collapse, has added millions of dollars to its bottom line, shows annual report. In recent years, the shipping company has bought new ships and increased its workforce by almost 100 people, executives tell ShippingWa....

Shipping Watch Published 3y-3mo-3w-3d-4h-57m ago

Major bulk ships now earn more than five times more than supertankers

Large dry bulk ships have in the past month seen earnings grow, surpassing more than USD 25,000 per day per ship. This is more than five times what supertankers are currently making.....

Shipping Watch Published 3y-3mo-3w-3d-5h-56m ago

This is Bourbon Offshore's strategy on how to emerge from the crisis

In an interview with ShippingWatch, Bourbon Offshore CEO Gaël Bodénès outlines the decisive components of the strategy for how to exit the crisis and empower one of the world amp 39 s biggest offshore carriers. amp 34 Smart amp 34 versus amp 34 non smart amp 34 vessels play a key role.....

Shipping Watch Published 3y-3mo-3w-3d-6h-52m ago

Politicians want dockworkers in LA and Long Beach moved up in vaccination queue

Employees at the US amp 39 two biggest and currently extremely busy ports should be moved forward in the vaccination programs, so that the ports are not at risk of shutting down, say several politicians in the US.....

Shipping Watch Published 3y-3mo-3w-3d-8h-12m ago

US blacklists oil traders and tankers for violating sanctions on Venezuela

A network of oil trading firms have now been sanctioned because it, according to the US authorities, has helped state owned Venezuelan oil company PDVSA selling oil worth hundreds of millions of dollars.....

Shipping Watch Published 3y-3mo-3w-3d-9h-24m ago

Maersk ship loses 750 containers in the Pacific

750 containers went overboard on one of Maersk amp 39 s container ships. Harsh weather in the north Pacific is blamed. ONE also recently lost containers in the Pacific.....

Shipping Watch Published 3y-3mo-3w-3d-10h-12m ago

Joe Biden signs decree returning the US to the Paris agreement

The US will rejoin the Paris agreement in which the countries of the world have set goals to limit global warming.....

Shipping Watch Published 3y-3mo-3w-3d-10h-55m ago

Will Joe Biden benefit shipping? Chief executives disagree

Will Joe Biden amp 39 s presidency benefit shipping or will his influence be minimal ShippingWatch asks several executives from major container, tanker and dry bulk companies what they think, and their answers show that opinions differ.....

Shipping Watch Published 3y-3mo-3w-4d-3h-17m ago

Cyprus to lure in shipping companies with "green" tonnage tax

Cyprus will lower its tonnage tax significantly for shipping companies that are working to reduce their carbon emissions.....

Shipping Watch Published 3y-3mo-3w-4d-3h-49m ago

Singapore to make huge cash injection in PIL and dilute the ownership

The Singapore state is prepared to inject USD 600 million in struggling container line PIL. This will dilute the owner amp 39 s, the Teo family, stake to less than 15 percent, but it could well be a last resort, says the company ahead of a decisive meeting.....

Shipping Watch Published 3y-3mo-3w-4d-4h ago

Martin Fruergaard replaces Mats Berglund as CEO of Pacific Basin

Mats Berglund steps down as CEO of Hong Kong based dry bulk operator Pacific Basin. He will be replaced by Ultragas Chief Executive Martin Fruergaard, says the shipping company.....

Shipping Watch Published 3y-3mo-3w-4d-4h-18m ago

Elon Musk's aerospace company buys two rigs from Valaris

SpaceX, founded by billionaire Elon Musk, just bought two rigs from Valaris. The plan is to use the rigs as floating offshore launch pads for the company amp 39 s rockets.....

Shipping Watch Published 3y-3mo-3w-4d-4h-58m ago

Scorpio Bulkers has now sold more than 26 ships as part of dry bulk exit

Scorpio Bulkers has been selling off ships in the past four months as part of its exit from the dry bulk sector. A total of 26 ships have gotten new owners, most recently two ultramax vessels.....

Shipping Watch Published 3y-3mo-3w-4d-5h-58m ago

Aker poaches Equinor wind chief

One of the top pioneers in the oil firm amp 39 s New Energy Solutions division switches to Norway amp 39 s most recent green convert.....

Shipping Watch Published 3y-3mo-3w-4d-7h-4m ago

Zim to raise triple-digit million dollar sum through US listing

Israeli container line Zim Integrated Shipping plans to sell shares for a triple digit million dollar sum with its listing in New York.....

Shipping Watch Published 3y-3mo-3w-4d-8h-3m ago

Hafnia's US-based methanol plant is rejected by environmental authorities

A planned large scale US based methanol facility, which has tanker operator Hafnia as a co investor, has been rejected by environmental authorities. The reason cited is that greenhouse gas emissions would be amp 34 extremely large amp 34 . Hafnia was set to transport some of the product to Asia. ....

Shipping Watch Published 3y-3mo-3w-4d-8h-51m ago

Crisis-stricken Borr Drilling gets green light for rescue plan

Hard pressed offshore company Borr Drilling secures creditor approval for its crisis plan. Banking major DNB recently announced that it was prepared to take over or sell the company, founded by Tor Olav Trøim, if a solution was not found.....

Shipping Watch Published 3y-3mo-3w-4d-9h-16m ago

Maersk Product Tankers divests the world's first ship equipped with rotor sails

Maersk Product Tankers sells tanker vessel amp 34 Maersk Pelican amp 34 , the world amp 39 s first tanker to be equipped with rotor sails in 2018 to reduce fuel consumption and CO2 emissions. Maersk Tankers saw a 28 percent improvement in pool partnership last year.....

Shipping Watch Published 3y-3mo-3w-4d-10h-35m ago

Equinor and Maersk Drilling continuously assess membership of oil lobbies

Oil major Equinor is considering whether the company should going forward continue as a member of oil association API, which Total recently opted to leave. Maersk Drilling also considers its membership as part of an ongoing assessment, the drilling company tells ShippingWatch.....

Shipping Watch Published 3y-3mo-3w-5d-2h-56m ago

Lundin and Wintershall emerge victorious from Norwegian licensing round

Norway amp 39 s government awarded 61 licenses to 30 oil companies on Tuesday. A long list of licenses were awarded to companies including Lundin and Wintershall.....

Shipping Watch Published 3y-3mo-3w-5d-3h-52m ago

Wärtsilä announces start date for new CEO

Wärtsilä amp 39 s incoming chief executive will soon assume his new position. He replaces Jaakko Eskola, who is set to retire soon.....

Shipping Watch Published 3y-3mo-3w-5d-4h-35m ago

Søren Skou expects to order Maersk's first carbon neutral vessels in three years

In just three years, Maersk expects to place an order for its first CO2 neutral vessels, explains CEO Søren Skou in a podcast about shipping amp 39 s green transition. At first, it will likely encompass smaller vessels for a amp 34 defined geographical area amp 34 .....

Shipping Watch Published 3y-3mo-3w-5d-5h-4m ago

CEO sees one impediment in particular for trending wind market

Shipping companies and suppliers flock to the trending offshore wind market, which looks ahead to significant growth in coming years. This also applies to Arne Blystad amp 39 s OHT, which, however, sees one impediment that risks delaying the boom, chief executive tells ShippingWatch.....

Shipping Watch Published 3y-3mo-3w-5d-6h-23m ago

Freight prices between China and Europe more than tripled

The costs of shipping a forty foot container from Asia to North Europe has increased to more USD 9,000, freight forwarders and importers tell Financial Times.....

Shipping Watch Published 3y-3mo-3w-5d-7h-24m ago

Maersk faces a financial litmus test once the container market stabilizes

Maersk is starting to see the rewards of its financial discipline, but the big test comes once the red hot container market stabilizes, the container major amp 39 s CFO tells Børsen.....

Shipping Watch Published 3y-3mo-3w-5d-8h-34m ago

Singapore is ready to vaccinate more than 10,000 maritime workers

Singapore expects to have vaccinated more than 10,000 people from the front line of the maritime sector by the end of January.....

Shipping Watch Published 3y-3mo-3w-5d-10h-5m ago

Analyst firm sees record-high LPG rates soften

The record high rates in the LPG are set to slide, projects Clarksons Platou. The rates recently peaked at USD 110,000 per day, but now a series of factors will pull them down, says the firm.....

Shipping Watch Published 3y-3mo-3w-5d-10h-24m ago

Unusual 2020 pushed millions of containers to the second half of the year

There was a big difference between the first and second half of the year for the container sector, as millions of containers were pushed to the second half of the year. This helped put pressure on the market, reports Sea Intelligence.....

Shipping Watch Published 3y-3mo-3w-5d-11h-11m ago

Major shipping nations disagree on military solution in Gulf of Guinea

The two large shipping nations Norway and Denmark disagree about whether to initiate military action in the Gulf of Guinea. 15 pirate gangs currently terrorize the waters, which has led to a surge in attacks in the past year.....

Shipping Watch Published 3y-3mo-3w-6d-2h-55m ago

Investment firms buy terminal in Rotterdam

Two large investment firms now buy Rotterdam Short Sea Terminals with the aim of growing and upgrading the terminal.....

Shipping Watch Published 3y-3mo-3w-6d-3h-1m ago

Bourbon Offshore saw activities diminish 20 percent in 2020

One of the world amp 39 s biggest offshore ship operators, Bourbon Offshore, settled a comprehensive restructuring one month ago. But the group now acknowledges that the offshore market dwindled significantly last year. ShippingWatch sat down with CEO Gaël Bodénès.....

Shipping Watch Published 3y-3mo-3w-6d-4h-18m ago

Waiting time off major US container ports surpasses large-scale conflict a few years ago

The two major ports on the US West Coast are now more congested than was the case a few years ago, when the ports were hit by a large scale conflict between port workers and employers.....

Shipping Watch Published 3y-3mo-3w-6d-5h-10m ago

Maersk center and Svitzer will work to convert green fuel into electricity

Alfa Laval, Svitzer and Mærsk Mc Kinney Møller amp 39 s Center for Zero Carbon are part of a new partnership with the Technical University of Denmark to develop a cell that can transform green fuel into electricity.....

Shipping Watch Published 3y-3mo-3w-6d-6h-21m ago

Analyst: Towering freight rates in container market are not due to blank sailings

It is not the container lines amp 39 blanking of sailings, which reduced capacity, that is driving the currently high freight rates. That is a myth, argues analyst firm Sea Intelligence.....

Shipping Watch Published 3y-3mo-3w-6d-7h-25m ago

Total withdraws from major US oil association

The French oil company can no longer see itself as part of the powerful US oil and gas industry association API as their targets do not align.....

Shipping Watch Published 3y-3mo-3w-6d-8h-29m ago

Coronavirus crisis gives boost to Tradelens

Maersk amp 39 s blockchain venture Tradelens has gained momentum during the coronavirus pandemic, as it has made customers realize that there were many gaps in their supply chains, Tradelens CEO tells Børsen.....

Shipping Watch Published 3y-3mo-3w-6d-8h-59m ago

Maersk Drilling finalizes contract with Total

A contract with Total to provide deep water drilling rigs has now been realized for Maersk Drilling. The contracts are worth around USD 100 million.....

Shipping Watch Published 3y-3mo-3w-6d-10h-17m ago

United Heavy Lift expands its fleet with eight newbuilds

United Heavy Lift, headed by Lars and Andreas Rolner and Lars Bonnesen, will expand its fleet with eight newbuilds in 2021 and 2022. The ships can transport, among other things, wind turbine blades of up to 120 meters, Lars Rolner tells ShippingWatch.....

Shipping Watch Published 3y-3mo-3w-6d-10h-23m ago

DNB after leaked backup plan on Borr Drilling: Rescue plan is still the primary goal

Major Norwegian bank DNB is actively working with Borr Drilling to find a rescue plan to avoid splitting up or divesting the company, the bank tells E24. The update comes a day after Dagens Næringsliv reported on a leaked backup plan from the bank.....

Shipping Watch Published 3y-3mo-4w-2d-3h-6m ago

Outgoing chief exec of Wallem Group criticizes charterers in coal conflict near China

Frank Coles, CEO of ship management company Wallem Group, criticizes charterers that will not allow crew changes on the ships currently idled off China loaded with Australian coal. V.Ships CEO Franck Kayser sees signs that China has started to accept some Australian coal cargoes. Friday midday, it w....

Shipping Watch Published 3y-3mo-4w-2d-3h-22m ago

OOCL's earnings soar on strong container market

OOCL amp 39 s earnings grew more than 51 percent in the fourth quarter. This growth was driven by the very strong container market in the Pacific and between Asia and Europe.....

Shipping Watch Published 3y-3mo-4w-2d-3h-40m ago

Analyst expects strain on earnings for Frontline, Hunter and Nordic American Tankers

With new coronavirus lockdowns and output cuts at OPEC+, the next six months could take a toll on tanker operators amp 39 earnings. This applies to Frontline, Hunter Group and Nordic American Tankers, Cleaves Securities tells E24.....

Shipping Watch Published 3y-3mo-4w-2d-4h-38m ago

China considers measures to increase capacity and stabilize container rates

China is breewing on a series of measures aimed at stabilizing the market and rates in container freight, says a spokesperson according to Lloyd amp 39 s List. The update comes shortly after the Chinese government announced aid for, among others, container makers.....

Shipping Watch Published 3y-3mo-4w-2d-6h-38m ago

Maersk calls for increased military protection in piracy-plagued Gulf of Guinea

Maersk now calls on authorities to launch an amp 34 effective military capacity amp 34 in the Gulf of Guinea to increase safety for vessels and crews, Maersk amp 39 s head of safety tells ShippingWatch on the heels of two piracy attacks on Maersk vessels in less than a month.....

Shipping Watch Published 3y-3mo-4w-2d-7h-10m ago

Seadrill company decides not to make interest rate payment

John Fredriksen amp 39 s struggling rig operator Seadrill cancels an interest rate payment on a loan through company Seadrill New Finance. The company is working on a comprehensive restructuring plan, which could go through court.....

Shipping Watch Published 3y-3mo-4w-2d-7h-46m ago

Blystad's OHT opens in Denmark with former Maersk, Deme and Ørsted people

Arne Blystad amp 39 s offshore company OHT will open in Denmark later this year. The company has hired several experienced people with histories at Maersk Supply Service, Vattenfall, Ørsted and Deme to head the Danish expansion.....

Shipping Watch Published 3y-3mo-4w-2d-9h ago

Fuel trade almost halved in Asia in 2020

Covid 19, new sulfur requirements, lower exports to China and the collapse of commodity trader Hin Leong Trading in Singapore made bunker oil trade volumes drop 46 percent in 2020 compared to 2019, writes Reuters.....

Shipping Watch Published 3y-3mo-4w-2d-10h-24m ago

Odfjell raises millions of dollars through green bonds

Norwegian chemical tanker carrier Odfjell has just succeeded in issuing a new bond totaling USD 100 million for the company. The bond is conditioned on the shipping company complying with its sustainability targets.....

Shipping Watch Published 3y-3mo-4w-2d-10h-50m ago

Maersk ship attempted boarded by pirates in Gulf of Guinea

Wednesday evening, pirates attempted to board container ship Maersk Cardiff in the Gulf of Guinea, but a guard vessel was called and the attack averted, confirms Maersk.....

Shipping Watch Published 3y-4mo-2h-49m ago

Danish Shipping hopes for special agreement to allow shipbreaking in India

Danish Shipping hopes that a special agreement between the EU and India can solve the slowdown that the Basel Convention has created in relation to getting Indian scrapping facilities approved. Brussels based NGO warns that the EU risks violating important principles.....

Shipping Watch Published 3y-4mo-2h-59m ago

OSM Maritime on new corona restrictions: We are close to the situation seen in the spring

Coronavirus restrictions are tightening across the world, and the situation is close to where it was in the spring last year, says ship management major OSM Maritime. New lockdowns would be bad news for several markets, says analyst.....

Shipping Watch Published 3y-4mo-3h-41m ago

Shell climbs to the top as the biggest bunker supplier in Singapore

Oil majors increasingly dominate the bunker market in Singapore, the world amp 39 s biggest bunker port, shows a new list that ranks suppliers by size. The list is topped by an oil supermajor, while a Hin Leong subsidiary lost the most during the year.....

Shipping Watch Published 3y-4mo-4h-10m ago

Neon leaves Denmark after remarkable entry that led competing marine insurer to shut down

One of the more remarkable developments in Danish marine insurance has come to an end, as UK based Neon has sold Danish Orca to a Dutch competitor. The sale comes after years plagued by deficits.....

Shipping Watch Published 3y-4mo-4h-46m ago

Interpol searching for captain and shipowner after huge explosion in Beirut

Lebanese authorities have asked Interpol to issue a red notice for the captain and owner of the ship, which was loaded with chemicals and ended up causing the huge explosion in Beirut last year that killed 200 people.....

Shipping Watch Published 3y-4mo-5h-47m ago

OSM Maritime om nye corona-restriktioner: Vi er tæt på situationen i foråret

Over hele verden skærpes coronarestriktionerne, og situationen er ved at være den samme som i foråret, vurderer det store ship management selskab OSM Maritime. Nye nedlukninger vil være dårligt nyt for flere markeder, vurderer analytiker.....

Shipping Watch Published 3y-4mo-6h-31m ago

Flexport: Red hot container market calls for 500,000 new containers

500,000 new containers need to be built to stem the currently red hot container market, freight forwarder Flexport tells Bloomberg. Satellite photos show a large number of container ships waiting in line off Los Angeles, reports the media.....

Shipping Watch Published 3y-4mo-7h-7m ago

Oldendorff, Golden Ocean and Star Bulk still have ships waiting off China: "Completely unprecedented"

Major dry bulk carriers such as Star Bulk, Oldendorff and Golden Ocean have for months had ships loaded with Australian coal idled off China. The situation is completely unprecedented, Star Bulk president tells ShippingWatch, while Golden Ocean is now able to change the crew on board a single vessel....

Shipping Watch Published 3y-4mo-8h-12m ago

Robert Uggla calls for moderation in Maersk boom: "Container shipping is a cyclical industry"

The CEO of APM Holding, Robert Mærsk Uggla, says in an interview with Børsen that, in the midst of the Maersk boom, one should not forget that the shipping line operates in a cyclical industry, and that the logistics ambition is far from realized yet.....

Shipping Watch Published 3y-4mo-10h-8m ago

DFDS upgrades its 2020 guidance for the third time

Ferry and freight operator DFDS upgrades its guidance for the results for 2020 for the third time, citing the large British stockpiling that occurred in the fourth quarter 2020 ahead of Brexit.....

Shipping Watch Published 3y-4mo-11h-8m ago

Trøim-owned tanker and gas company sold in billion dollar transaction

Infrastructure company buys tanker operator Golar LNG Partners and gas company Hygo in billion dollar deal. Sellers include Norwegian investor Tor Olav Trøim.....

Shipping Watch Published 3y-4mo-1d-2h-55m ago

Price of EU carbon quotas climbs to all-time high

The price of European carbon quotas is soaring, as the shipping sector is on track to soon be included in the system. Right now it costs USD 42 to emit a ton of carbon, the highest price ever. Maersk has asked the EU for permission to not pay at all.....

Shipping Watch Published 3y-4mo-1d-3h-12m ago

Svitzer kicks off 2021 with more questions than answers

Towage operator Svitzer faces an unpredictable year in which both the vaccine and Brexit could upend the entire business. Nevertheless, there are still factors that could trigger greater demand, says new managing director of Europe, Lise Demant.....

Shipping Watch Published 3y-4mo-1d-3h-24m ago

Bank DNB ready to act if Borr Drilling fails to settle rescue plan

If strained Borr Drilling is not able to settle a rescue plan, major bank DNB considers taking over or selling the company, shows a leaked document, according to Dagens Næringsliv. Founder Tor Olav Trøim is confident that a rescue plan will be settled.....

Shipping Watch Published 3y-4mo-1d-3h-48m ago

Denmark assumes responsibility of European naval effort in Strait of Hormuz

The joint European mission Emasoh in the Strait of Hormuz will be led by Denmark for the next six months. The joint mission was established after several merchant vessels were attacked with explosives in the strait in 2019.....

Shipping Watch Published 3y-4mo-1d-4h-42m ago

Media report Shell to dismiss over 300 in North Sea

As part of enormous cost cuts, the British Dutch supermajor plans to lay off 330 employees in the UK.....

Shipping Watch Published 3y-4mo-1d-5h-45m ago

MSC and Søren Toft join association working to develop hydrogen as future fuel

Container line MSC now shows its support of hydrogen by joining industry body Hydrogen Council, which works to develop hydrogen as fuel. Players such as CMA CGM, NYK Lines, Total and Shell are already members.....

Shipping Watch Published 3y-4mo-1d-6h-54m ago

Fidelity leads USD 2 trillion investor group seeking seafarer aid

Investor managing more than USD 2 trillion in assets now call of world leaders to address the ongoing humanitarian crisis at sea, where marine workers remain stranded due to Covid 19 travel restrictions.....

Shipping Watch Published 3y-4mo-1d-8h-7m ago

Minister's efforts to secure support for joint pirate effort in Gulf of Guinea fall flat

So far, no countries have been willing to back a Danish proposal for a joint military effort to combat piracy against ships in the Gulf of Guinea, Danish Defense Minister Trine Bramsen tells ShippingWatch.....

Shipping Watch Published 3y-4mo-1d-9h-11m ago

Scorpio Tankers enters several sale-and-leaseback agreements

Product tanker carrier Scorpio Tankers announces new commitments to sell vessels in order to lease them back again. The company has also received commitments on a USD 21 million loan to refinance debt.....

Shipping Watch Published 3y-4mo-1d-10h-22m ago

DHL's freight forwarding business lifts its result for full-year 2020

The freight forwarding business at DHL, Global Freight Forwarding, lifted its revenue and earned more money on operations in the latest fiscal year, show preliminary 2020 figures. The group raises its 2022 guidance.....

Shipping Watch Published 3y-4mo-1d-10h-58m ago

US crude exports did not result in the boost tanker carriers anticipated in 2020

Crude oil exports from the US were supposed to drive the tanker market in 2020, but the end result became something entirely different. This is one among several reasons why the market, according to brokerage Simpson Spence Young, faces a challenging year in 2021.....

Shipping Watch Published 3y-4mo-2d-2h-53m ago

The pandemic stress tested Maersk's new strategy and its customers' opinions

The pandemic became an involuntary stress test of Maersk amp 39 s new end to end strategy. Customer feedback has been better than expected, says CCO Vincent Clerc. General dissatisfaction with container lines otherwise increased in 2020.....

Shipping Watch Published 3y-4mo-2d-3h-26m ago

Norwegian tax cuts could create boom in oil projects in 2022

In a new analysis, bank SEB expects more investment decisions on the Norwegian shelf in 2022. Tax cuts for the country amp 39 s offshore sector particularly factor in.....

Shipping Watch Published 3y-4mo-2d-3h-40m ago

DSME fails to meet its order target for 2020

South Korean shipbuilder DSME shot somewhat below its order target for last year, according to a presentation. However, the yard saw increased newbuild activity in the fourth quarter.....

Shipping Watch Published 3y-4mo-2d-3h-59m ago

Hapag-Lloyd vessel attacked by pirates near South America

A container ship from German Hapag Lloyd was attacked off Columbia, during which pirates boarded the vessel, the container line confirms to ShippingWatch. All crew members are safe.....

Shipping Watch Published 3y-4mo-2d-4h-53m ago

Winter LNG boom creates most expensive cargo ships in history

An unprecedented shortage of LNG tankers made charter rates last week soar to the highest level ever seen for a ship to ferry commodities. Spot rates have more than tripled within the past month.....

Shipping Watch Published 3y-4mo-2d-5h-33m ago

Another senior executive leaves Trafigura and Fredriksen's bunker company

First CEO Anders Grønborg departed, and now another senior executive has decided to leave Trafigura and John Fredriksen amp 39 s joint bunker company TFG Marine, sources tell ShippingWatch.....

Shipping Watch Published 3y-4mo-2d-7h-1m ago

Brexit final dash reduces DFDS' setback in cargo volumes

The intense stock buildup in late 2020 means that DFDS amp 39 cargo volumes combined went down 1 percent compared to the year before.....

Shipping Watch Published 3y-4mo-2d-7h-53m ago

Ultraship to digitalize its sailing through agreement with Wärtsilä

Tanker operator Ultraship will digitalize its route planning and monitoring processes with an agreement with Wärtsilä to make its operations more efficient and to cut costs for the company amp 39 s 18 LPG tanker vessels.....

Shipping Watch Published 3y-4mo-2d-9h-24m ago

Hempel set to invest billions in growth plan

Over the next five years, coating producer Hempel plans to invest upwards of DKK 19 billion in a growth plan, reports Børsen. Renevue must be doubled over this period, says CEO.....

Shipping Watch Published 3y-4mo-2d-10h-47m ago

Owner of Minerva Bunkering buys majority of supplier in large deal

Mercuria, which among other things owns Minerva Bunkering, bolsters the company amp 39 s position in the energy transition with acquisition of US supplier of alternative fuels.....

Shipping Watch Published 3y-4mo-2d-11h-20m ago

Freezing weather in Asia sends energy prices soaring, catching markets off guard

Asia amp 39 s coldest winter in decades has upended energy markets across the continent, catching some companies flat footed and sending prices for electricity, fuel and vessels to record highs.....

Shipping Watch Published 3y-4mo-3d-3h-22m ago

Scorpio Tankers projects new recovery for product tanker

The world amp 39 s largest product tanker operator, Scorpio Tankers, expects significant growth this year in the demand for refined oil products. Closures of older refineries will contribute to growth in the product tanker market. Analyst is skeptical.....

Shipping Watch Published 3y-4mo-3d-3h-49m ago

New report shows difficulty in hitting EU's 2030 climate goals

The EU must triple the speed of cuts to achieve its CO2 emissions reduction target by amp 34 at least 55 percent amp 34 before 2030, according to a new think tank report skeptical of whether the objectives are feasible.....

Shipping Watch Published 3y-4mo-3d-4h-16m ago

2020's weak spring in the container market could be recovered in strong final stretch

If the current rally in the container market continues in December, combined demand for 2020 as a whole will approach the level of 2019 despite the big slide in the spring, reports Sea Intelligence.....

Shipping Watch Published 3y-4mo-3d-5h-15m ago

Iran wants frozen funds released following seizure of South Korean tanker

Iran says South Korea should avoid politicizing the case concerning the seizure of a South Korean tanker and demands that frozen Iranian oil funds be released, writes Reuters.....

Shipping Watch Published 3y-4mo-3d-6h-51m ago

DFDS takes Oslo ferry temporarily out of service after new restrictions

Ferry operator DFDS takes the Oslo ferry out of service temporarily after new, tighter travel restrictions from the Danish government.....

Shipping Watch Published 3y-4mo-3d-7h-58m ago

Nearly 50 drilling rigs retired in 2020

In a tough 2020 for the drilling industry, more drilling rigs were sent for recycling compared to previous years, analyst tells Finansavisen.....

Shipping Watch Published 3y-4mo-3d-8h-56m ago

China's iron ore import could be the growth-driver in the dry bulk market in 2021

Dry bulk operators can now look forward to several golden years that are set to begin already now, projects Cleaves Securities. This is driven by a combination of few new ships and a large Chinese appetite for iron ore, the investment bank tells ShippingWatch.....

Shipping Watch Published 3y-4mo-3d-9h-24m ago

Analyst firm: Shippers should prepare for increase in bunker surcharge

Since November, fuel prices have increased significantly, which will likely bring back the so called BAF surcharges and should have shippers preparing for a hike in prices, says analyst firm.....

Shipping Watch Published 3y-4mo-3d-10h-20m ago

Port of Antwerp is testing sensors for autonomous ships

The port in Antwerp has joined forces with the city amp 39 s university to test 3D sensors for autonomous ships. The technology is inspired by bats amp 39 ability to navigate.....

Shipping Watch Published 3y-4mo-3d-11h-3m ago

Dry bulk index goes up more than 10 percent

Dry bulk index Baltic Dry grew 10.9 points Friday. Both Golden Ocean and Belships believe in an improved dry bulk market for the coming two years.....

Shipping Watch Published 3y-4mo-6d-3h-8m ago

Cadeler looks ahead to enormous growth in the market for offshore wind installations

With an influx of USD 100 million in capital and well known names such as Connie Hedegaard on the board, Cadeler is prepared for growing within offshore wind. ShippingWatch has interviewed CEO Mikkel Gleerup about plans and challenges in a booming market.....

Shipping Watch Published 3y-4mo-6d-3h-16m ago

Ship orders slump 50 percent with owners unsure which green fuel to use

The global ship order book has plunged, as owners are unsure which alternative fuel types to embrace as tighter environmental regulations loom. Most fuel alternatives are only in the trial stage and will not be scalable for at least a decade.....

Shipping Watch Published 3y-4mo-6d-4h-2m ago

25-year-old rule prevents permissions for shipbreaking in India

There are still no Indian yards on the list of approved shipbreaking facilities currently being completed by the EU. And now a 25 year old convention blocks the process. The EU is trying to find a way around it.....

Shipping Watch Published 3y-4mo-6d-4h-30m ago

Norwegian shipowners want Nigeria to resolve piracy issues in the Gulf of Guinea

Norway and Denmark are on the same page, says the Norwegian Shipowners amp 39 Association, in terms resolving the growing issues of pirate attacks and kidnappings of ships and seafarers in the Gulf of Guinea. But Norway says that Nigeria has the responsibility.....

Shipping Watch Published 3y-4mo-6d-4h-38m ago

Close to half of shippers want more logistics partners in 2021

The coronavirus crisis has exposed supply chain weaknesses worldwide, which has led many shippers to look for more partners. Almost half of them want to increase their number of logistics partners in 2021, shows survey from Transport Intelligence.....

Shipping Watch Published 3y-4mo-6d-6h-30m ago

Container spot rates increase for the 13th consecutive week

Spot rates in the container market continue to soar on the Asia Europe route. The rate index has now increased 189.6 percent since January 2020.....

Shipping Watch Published 3y-4mo-6d-8h-23m ago

Northern Offshore Services provides seven ships for Ørsted

Swedish wind service operator expands its partnership with Ørsted to sail crews to offshore wind farms off the west coast of Britain on seven CTV ships.....

Shipping Watch Published 3y-4mo-6d-9h-38m ago

Container volumes almost fully recovered despite large drop in the spring of 2020

The dramatic plunge in container volumes of 7.3 percent in the first five months of 2020 due to the coronavirus pandemic was almost regained in the rest of the year, shows a Bimco analysis.....

Shipping Watch Published 3y-4mo-6d-10h-22m ago

Ceva Logistics expands reefer services with new acquisition in Morocco

Ceva Logistics has acquired a Moroccan company that will, among other things, strengthen the logistics operator amp 39 s reefer business. The move is part of an expansion of its presence in Africa, where the company also bought up last year.....

Shipping Watch Published 3y-4mo-6d-11h-14m ago

71 dry bulkers remain idle off the coast of China with no prospect of offloading

The conflict between China and Australia, which prevents dry bulkers from offloading their Australian coal cargoes in China, continues unabated with no solution in sight. At present, 71 vessels are stranded while crews are calling on authorities to intervene. Things have gone from bad to worse, says....

Shipping Watch Published 3y-4mo-1w-3h-6m ago

Odfjell issues green bonds for upwards of NOK 1 billion

Norway amp 39 s Odfjell buckles into the green transition with a new bond loan of between NOK 0.5 and 1 billion, which is linked to the tanker company reducing its carbon intensity by 50 percent ahead of 2030.....

Shipping Watch Published 3y-4mo-1w-3h-27m ago

Rates for the largest gas vessels surpass USD 100,000 per day

Many gas ship operators only need rates of USD 20,000 per day to cover their costs, but in the past month, rates have hovered steadily at around USD 100,000 per day. BW LPG chief exec sees strong chances of this continuing a while into 2021.....

Shipping Watch Published 3y-4mo-1w-4h-28m ago

Maersk appoints new head of green transition

Maersk tasks its current head of strategy with leading the green transition of the fleet, and it gathers key employees around him, reports Børsen.....

Shipping Watch Published 3y-4mo-1w-5h-7m ago

Sale of three South Korean shipyards enters final phase

Only one out of the three South Korean shipyards put up for sale last year due to financial problems has managed to secure a final sales agreement.....

Shipping Watch Published 3y-4mo-1w-6h-34m ago

Trafigura will lower its carbon emissions 30 percent by 2023 at the latest

Commodity trader Trafigura has set a carbon emission reduction target of 30 percent by 2023 at the latest, compared to emissions recorded in 2020.....

Shipping Watch Published 3y-4mo-1w-7h-44m ago

Norwegian Shipowners' Association hopes for demand growth in 2021

Harald Solberg, CEO of the Norwegian Shipowners amp 39 Association, hopes for increased demand in the shipping sector in 2021. Solberg also reflects on a 2020 that was very challenging.....

Shipping Watch Published 3y-4mo-1w-8h-41m ago

Saudi cuts prompt oil price increase

Saudi Arabia, the world amp 39 s biggest oil producer, has agreed to reduce its output for the next two months.....

Shipping Watch Published 3y-4mo-1w-9h-16m ago

EU's shipping carbon quotas may come into force as soon as January 2022

Despite outspoken dissatisfaction from the shipping industry and suggestions of separate fees for the shipping industry, it looks like the EU will plough ahead with its plans to include the maritime industry in its Emissions Trading System, and it could even happen in just a years amp 39 time.....

Shipping Watch Published 3y-4mo-1w-10h-30m ago

Scorpio Bulkers announces new name as part of dry bulk exit

The Monaco based company headed by Robert Bugbee plans to ditch the name Scorpio Bulkers as part of its strategy to exit the dry bulk market and instead go all in on the market for green energy and offshore wind.....

Shipping Watch Published 3y-4mo-1w-10h-54m ago

Maersk prepares for a farewell to record high rates in first half of the year

The red hot container market with historic high rates will cool off during the first half of the year, projects Maersk CCO Vincent Clerc. Though he declines to project whether this will happen in the first or the second quarter.....

Shipping Watch Published 3y-4mo-1w-1d-3h-7m ago

Shipping shares on the Oslo Stock Exchange dropped 11 percent in 2020

In a challenging year for most industries due to the coronavirus pandemic, shipping shares were also severely impacted. The shipping share index on the Oslo Stock Exchange dropped 11 percent in 2020, with significant spread among the shares.....

Shipping Watch Published 3y-4mo-1w-1d-3h-24m ago

USTC-heir makes first move to adjust the organization

Nina Østergaard Borris, who is poised to one day take over the USTC organization and who became COO last year, now embarks on a process to adjust the organization. In part, this is done by moving part of Bunker Holding into USTC.....

Shipping Watch Published 3y-4mo-1w-1d-3h-50m ago

Hin Leong's court-appointed managers seek to freeze Lim's assets

Hin Leong Trading amp 39 s judicial managers have submitted an application to freeze all assets, shares and funds held by its founder Lim Oon Kuin and his two children in an effort to recoup USD 3.5 billion in debt from the collapsed oil trader.....

Shipping Watch Published 3y-4mo-1w-1d-4h-31m ago

Wallenius Wilhelmsen reactivates nine cold stacked vessels

Norwegian car carrier Wallenius Wilhelmsen wants nine currently cold stacked vessels to resume service. The company plans to do so in the first quarter of the year.....

Shipping Watch Published 3y-4mo-1w-1d-4h-46m ago

"It is time to take control of your supply chain"

On the back of a amp 34 miserable amp 34 year for shippers, it is time to take control of the supply chain. ShippingWatch has interviewed logistics profiles Bjørn Vang Jensen and Jochen Gutschmidt on how to regain power in the container market. If possible at all.....

Shipping Watch Published 3y-4mo-1w-1d-6h-6m ago

Upturn in Maersk's share price could continue until Chinese New Year

amp 34 Freight rates will go drown after the Chinese New Year in February. This is, however, included in our model forecasts. The discipline in the market should sustain stock prices, amp 34 writes Handelsbanken.....

Shipping Watch Published 3y-4mo-1w-1d-7h-1m ago

Final dash in 2020 drives order book for container ships above 10 percent

After years with limited growth, the global order book for new container ships is now growing again. A final dash in 2020 turned the last three months of the year into the quarter with the most orders in five years.....

Shipping Watch Published 3y-4mo-1w-1d-8h-18m ago

OPEC+ agrees to limit production with Saudi Arabia favoring output cut

While Saudi Arabia wants to take the heavy burden to limit production, other countries prefer to maintain output levels.....

Shipping Watch Published 3y-4mo-1w-1d-10h-10m ago

John Fredriksen appoints new CEO of Avance Gas

Kristian Sørensen, CEO of shipbroker Fearnleys, switches to Avance Gas, which is controlled by Norwegian shipowner John Fredriksen. He becomes the gas tanker operator amp 39 s third CEO in 10 months.....

Shipping Watch Published 3y-4mo-1w-1d-10h-44m ago

Boskalis acquires offshore service competitor

The Dutch offshore company expects to have earned back the purchase price in three years thanks to synergistic effects.....

Shipping Watch Published 3y-4mo-1w-1d-11h-20m ago

2020 was a dreadful year for raising capital in the shipping sector

A recovery in the shipping market is some ways off, projects investment bank Fearnley Securities. The past year was a dreadful period for raising capital in the sector, and this was due to the pandemic.....

Shipping Watch Published 3y-4mo-1w-2d-2h-46m ago

Robert Uggla takes over close to one fifth of Maersk Tankers from the family company

Robert Uggla amp 39 s personal company a few days ago took over ownership of close to one fifth of Maersk Tankers, which has till now been owned 100 percent by the family amp 39 s APM Holding.....

Shipping Watch Published 3y-4mo-1w-2d-3h-1m ago

Color Line sends home another 500 employees

Color Line sends an additional 500 employees home and has now sent home almost 1,500 in total. This time the reason is the shut down of a route between Kiel and Oslo following the introduction of new Covid 19 restrictions.....

Shipping Watch Published 3y-4mo-1w-2d-4h-3m ago

Corona restrictions are unchanged and the new normal for Cpt Debie Morera and his crew

The coronavirus has had large human and economic costs for crews and companies, and seafarers have probably suffered the most. Captain Debie Morera explains what happens when extraordinary precautions become the new normal onboard.....

Shipping Watch Published 3y-4mo-1w-2d-4h-55m ago

Shippers and freight forwarders call on EU to intervene in overheated container market

European shippers and freight forwarders call on the EU Commission to intervene in the container sector in light of the overheated market seen in the past many months. They say that the shipping lines amp 39 behavior is harmful to smaller shippers in particular. The shipping lines have previously ....

Shipping Watch Published 3y-4mo-1w-2d-5h-28m ago

South Korea deploys naval vessel to Strait of Hormuz

South Korea has deployed a warship to the Stait of Hormuz after the Islamic Revolutionary Guard Corps seized a South Korean flagged tanker Monday, citing pollution. South Korea demands that the ship and its 20 man crew be released.....

Shipping Watch Published 3y-4mo-1w-2d-6h-3m ago

Shipowners call off fears of UK becoming "European Singapore" after Brexit

Ahead of Brexit, shipowners and offshore companies in the EU feared that Great Britain would use its independence to create amp 34 Europe amp 39 s Singapore amp 34 with low taxes. Now Danish Shipping calls off this worry.....

Shipping Watch Published 3y-4mo-1w-2d-6h-56m ago

Odfjell is optimistic about chemical tanker in 2021 on the heels of the best result in 12 years

In 2020, Odfjell likely surpassed one billion dollars in revenue and doubled its operating result to USD 125 130 million. amp 34 We have an optimistic view of the chemical tanker market in 2021, but we amp 39 re not naive, amp 34 CEO Kristian V. Mørch tells ShippingWatch.....

Shipping Watch Published 3y-4mo-1w-2d-7h-23m ago

Evergreen container ship loses 36 containers

A ship from container line Evergreen has lost 36 containers. The incident occurred when ship Ever Liberal was hit by bad weather after departing from Busan, South Korea on the day before New Year, headed for Los Angeles.....

Shipping Watch Published 3y-4mo-1w-2d-10h-25m ago

Lightship opens office in Singapore and hires former Ifchor director

Shipbroker Lightship opens its ninth office, which will be located in Singapore. And the company has also hired a new head of panamax for its office in Geneva. The goal is to become a amp 34 power factor amp 34 in panamax, explains Chairman Morten Have.....

Shipping Watch Published 3y-4mo-1w-2d-10h-56m ago

Mærsk-konkurrent tabte 36 containere

Ulykken skete, da skibet amp 34 Ever Liberal amp 34 , blev ramt af uvejr, efter det dagen før nytår havde forladt Busan i Sydkorea med kurs mod Los Angeles.....

Shipping Watch Published 3y-4mo-1w-2d-22h-47m ago

Shipping stocks fell 26 percent in 2020

Shipping stocks fell 26 percent in 2020, the median performance of 76 shipping equities shows, according to a Clarksons Platou analysis. The year also brought intense swings.....

Shipping Watch Published 3y-4mo-1w-3d-2h-46m ago

Zim to raise USD 100 million with New York IPO

When Israeli container line Zim, according to plan, is listed in New York, the company aims to raise USD 100 million, which will be used for investments in ships and digital initiatives.....

Shipping Watch Published 3y-4mo-1w-3d-3h-4m ago

Iran seizes Korean oil-products tanker in the Persian Gulf

Iran has seized a South Korean flagged tanker, used to carry oil products and chemicals, in its territorial waters, citing amp 34 repeated violations of marine environmental laws. amp 34 ....

Shipping Watch Published 3y-4mo-1w-3d-3h-35m ago

Pacific Drilling exits Chapter 11 following successful restructuring

Rig company Pacific Drilling now says that it has exited its Chapter 11 process on the heels of a successful restructuring, lender approval of its plan and a final approval from a US bankruptcy court.....

Shipping Watch Published 3y-4mo-1w-3d-3h-56m ago

Mine found on tanker vessel near Iraq

A mine was found on a tanker ship off the coast of Iraq. According to a security firm, it is unknown whether the mine was active, but the incident is the latest in line of tanker vessels being hit by similar events in the Red Sea.....

Shipping Watch Published 3y-4mo-1w-3d-4h-18m ago

Bjørn Vang expects long-term contracts to increase by up to 50 percent

For years, Bjørn Vang Jensen sat across the table from container lines to renegotiate contracts as a representative of Electrolux. He cannot rule out that the contracts set to be entered soon could increase by up to 50 percent as a result of the current rate boom.....

Shipping Watch Published 3y-4mo-1w-3d-4h-25m ago

Container lines' weak reliability in the US is exaggerated

Even though container lines amp 39 schedule reliability on all global trade routes reached a historic low on average in 2020, the ability to arrive on time on, for instance, the major routes to the US is no worse than the 10 year norm, writes Sea Intelligence.....

Shipping Watch Published 3y-4mo-1w-3d-6h-43m ago

Kuehne + Nagel gets approval for sale of British business unit to US competitor

British regulators have approved Kuehne + Nagel amp 39 s sale of a business unit in Great Britain to US based XPO.....

Shipping Watch Published 3y-4mo-1w-3d-7h-26m ago

Here are five decisive things to keep an eye on in 2021

Everyone will be watching to see when the coronavirus vaccines start to really have an effect. But beyond this, there are several decisive issues to keep an eye on during the year, which could have a big impact on shipping, logistics and offshore. ShippingWatch provides an overview.....

Shipping Watch Published 3y-4mo-1w-3d-7h-52m ago

Arne Fredly sees many shipping companies as "pure fraud"

Norwegian shipping magnate Arne Fredly, who controls Hunter Group, among other businesses, calls it a amp 34 sad story amp 34 to be an equity investor in the shipping industry. He says that upwards of 80 percent of stock listed shipping companies are amp 34 pure fraud amp 34 .....

Shipping Watch Published 3y-4mo-1w-3d-9h-34m ago

Argentinian labor strike is over - 162 dry bulkers were hit

A 20 day labor strike in Argentina is over, after the disputing parties have reached an agreement, reports Reuters. 162 dry bulk vessels were hit.....

Shipping Watch Published 3y-4mo-2w-1d-3h-11m ago

Two container lines in particular expanded their fleets in 2020

Eight of the world amp 39 s 12 largest container lines expanded their fleets this year. Two shipping lines in particular accounted for the biggest fleet growth in teu, while things looked different for the world amp 39 s biggest container line, Maersk, writes Alphaliner.....

Shipping Watch Published 3y-4mo-2w-1d-3h-46m ago

Chief executives eye better days ahead for dry bulk

The CEOs of Golden Ocean and Belships expect to see better times for the dry bulk market in 2021 and 2022, reports Finansavisen.....

Shipping Watch Published 3y-4mo-2w-1d-3h-51m ago

Maersk's share price is back at its former glory

After a highly unusual year that ended with a historic recovery for the container lines, Maersk amp 39 s share price ends at a level that has not been seen in years. Analyst does not project this will last far into 2021, but it could rub off on the shipping company amp 39 s contracts.....

Shipping Watch Published 3y-4mo-2w-1d-6h-11m ago

Shipyards receive another order for ultra-large container ships

A Chinese company has just ordered four ships of 24,000 teu, which will likely be chartered to MSC, writes Alphaliner. This comes at a time when Hapag Lloyd and ONE have also announced new mega ships.....

Shipping Watch Published 3y-4mo-2w-1d-7h-58m ago

Maersk Broker merges several activities

Maersk Broker combines three activities from the turn of the year. This happens as part of a strategy to strengthen its profile in these areas, says the broker.....

Shipping Watch Published 3y-4mo-2w-1d-8h-38m ago

ShippingWatch will be closed for New Year

ShippingWatch will be closed for New Year. We will be back on Monday, Jan. 4 with the latest news from the global shipping sector.....

Shipping Watch Published 3y-4mo-2w-1d-9h-6m ago

This year's most read stories: Maersk and DB Schenker, Toft's new job, cyber attack

Maersk amp 39 s break from major German customer DB Schenker and the cyber attack om CMA CGM attracted the most readers on ShippingWatch in 2020. In an unusual year characterized by the coronavirus pandemic, other big stories were the red hot container market, Søren Toft amp 39 s start at MSC and....

Shipping Watch Published 3y-4mo-2w-1d-9h-20m ago

Toft on departure from Maersk: I felt ready to try something new

After 25 years with Maersk, Søren Toft was ready for new challenges, says the new MSC Chief Executive in an interview with Børsen, wherein he puts some words on his talks with MSC amp 39 s owner, the Aponte family.....

Shipping Watch Published 3y-4mo-2w-1d-10h-13m ago

Siem Offshore still waits for clarification from its Brazilian creditors

Siem Offshore is in the midst of a refinancing, which requires backing from many lenders. But it has proven difficult for the shipping company to get its Brazilian creditors on board, writes Finansavisen.....

Shipping Watch Published 3y-4mo-2w-2d-2h-45m ago






Stena Line once again sails passengers from the UK

France now permits drivers to sail from the UK with their cargoes, while the Netherlands opens to British passengers following a short lockdown implemented to curb the spread of a coronavirus mutation.....

Shipping Watch Published 3y-4mo-3w-1d-7h-34m ago



Conoco Phillips reports major oil discovery in Norway

US oil giant Conoco Phillips has just made a large oil discovery in the North Sea. This is the company amp 39 s fourth Norwegian oil find in 16 months.....

Shipping Watch Published 3y-4mo-3w-1d-10h-8m ago

DFDS employees awarded shares worth USD 18 million

8,000 employees at DFDS each receive 50 shares in the Danish ferry operator. Currently worth DKK 110 million, the shares will vest over a period of three years.....

Shipping Watch Published 3y-4mo-3w-2d-3h-2m ago

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