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 4y-10mo-2w-3d-23h-11m ago
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 4y-10mo-2w-4d-29m ago
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 4y-10mo-2w-4d-57m ago
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 4y-10mo-2w-4d-2h-40m ago
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 4y-10mo-2w-4d-4h-7m ago
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 4y-10mo-2w-4d-5h-19m ago
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 4y-10mo-2w-4d-6h-27m ago
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 4y-10mo-2w-4d-7h-40m ago
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 4y-10mo-2w-4d-23h-17m ago
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 4y-10mo-2w-4d-23h-42m ago
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 4y-10mo-2w-5d-26m ago
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 4y-10mo-2w-5d-1h-9m ago
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 4y-10mo-2w-5d-3h-38m ago
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 4y-10mo-2w-5d-4h-41m ago
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 4y-10mo-2w-5d-6h-41m ago
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 4y-10mo-2w-5d-6h-46m ago
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 4y-10mo-2w-5d-23h-37m ago
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 4y-10mo-2w-6d-33m ago
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 4y-10mo-2w-6d-4h-17m ago
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 4y-10mo-2w-6d-5h-35m ago
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 4y-10mo-2w-6d-6h-13m ago
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 4y-10mo-2w-6d-23h-45m ago
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 4y-10mo-3w-39m ago
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 4y-10mo-3w-2h-44m ago
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 4y-10mo-3w-3h-47m ago
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 4y-10mo-3w-5h-23m ago
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 4y-10mo-3w-7h-26m ago
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 4y-10mo-3w-2d-23h-8m ago
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 4y-10mo-3w-2d-23h-38m ago
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 4y-10mo-3w-2d-23h-48m ago
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 4y-10mo-3w-3d-16m ago
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 4y-10mo-3w-3d-1h-20m ago
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 4y-10mo-3w-3d-2h-51m ago
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 4y-10mo-3w-3d-6h-43m ago
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 4y-10mo-3w-3d-7h-1m ago
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 4y-10mo-3w-3d-23h-56m ago
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 4y-10mo-3w-4d-15m ago
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 4y-10mo-3w-4d-1h-15m ago
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 4y-10mo-3w-4d-3h-10m ago
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 4y-10mo-3w-4d-4h-30m ago
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 4y-10mo-3w-4d-5h-42m ago
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 4y-10mo-3w-4d-23h-35m ago
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 4y-10mo-3w-5d-18m ago
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 4y-10mo-3w-5d-36m ago
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 4y-10mo-3w-5d-2h-16m ago
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 4y-10mo-3w-5d-5h-9m ago
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 4y-10mo-3w-5d-5h-34m ago
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 4y-10mo-3w-5d-6h-52m ago
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 4y-10mo-3w-5d-23h-14m ago
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 4y-10mo-3w-6d-1h-22m ago
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 4y-10mo-3w-6d-2h-41m ago
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 4y-10mo-3w-6d-6h-42m ago
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 4y-10mo-3w-6d-7h-29m ago
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 4y-10mo-3w-6d-23h-13m ago
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 4y-10mo-4w-36m 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 4y-10mo-4w-1h-28m ago
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 4y-10mo-4w-2h-39m ago
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 4y-10mo-4w-3h-43m ago
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 4y-10mo-4w-5h-17m ago
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 4y-10mo-4w-6h-41m ago
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 4y-10mo-4w-2d-23h-24m ago
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 4y-10mo-4w-2d-23h-40m ago
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 4y-11mo-56m ago
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 4y-11mo-2h-56m ago
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 4y-11mo-3h-28m ago
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 4y-11mo-4h-4m ago
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 4y-11mo-5h-18m ago
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 4y-11mo-6h-42m ago
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 4y-11mo-7h-8m ago
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 4y-11mo-23h-7m ago
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 4y-11mo-23h-17m ago
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 4y-11mo-23h-59m ago
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 4y-11mo-1d-28m ago
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 4y-11mo-1d-1h-4m ago
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 4y-11mo-1d-2h-5m ago
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 4y-11mo-1d-2h-49m ago
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 4y-11mo-1d-3h-25m ago
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 4y-11mo-1d-4h-30m ago
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 4y-11mo-1d-6h-26m ago
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 4y-11mo-1d-7h-26m ago
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 4y-11mo-1d-23h-30m ago
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 4y-11mo-1d-23h-42m ago
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 4y-11mo-2d-6m ago
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 4y-11mo-2d-1h ago
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 4y-11mo-2d-3h-12m ago
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 4y-11mo-2d-4h-25m ago
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 4y-11mo-2d-5h-29m ago
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 4y-11mo-2d-6h-40m ago
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 4y-11mo-2d-7h-16m ago
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 4y-11mo-2d-23h-11m ago
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 4y-11mo-2d-23h-44m ago
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 4y-11mo-3d-17m ago
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 4y-11mo-3d-1h-11m ago
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 4y-11mo-3d-1h-51m ago
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 4y-11mo-3d-3h-19m ago
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 4y-11mo-3d-5h-42m ago
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 4y-11mo-3d-7h-5m ago
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 4y-11mo-3d-7h-38m ago
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 4y-11mo-3d-23h-40m ago
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 4y-11mo-4d-7m ago
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 4y-11mo-4d-34m ago
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 4y-11mo-4d-1h-33m ago
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 4y-11mo-4d-3h-9m ago
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 4y-11mo-4d-5h-42m ago
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 4y-11mo-4d-6h-38m ago
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 4y-11mo-4d-7h-21m ago
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 4y-11mo-6d-23h-34m ago
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 4y-11mo-1w-20m ago
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 4y-11mo-1w-48m ago
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 4y-11mo-1w-56m ago
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 4y-11mo-1w-2h-47m ago
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 4y-11mo-1w-6h-40m ago
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 4y-11mo-1w-7h-32m ago
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 4y-11mo-1w-23h-24m ago
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 4y-11mo-1w-23h-45m ago
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 4y-11mo-1w-1d-46m ago
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 4y-11mo-1w-1d-6h-48m ago
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 4y-11mo-1w-1d-7h-12m ago
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 4y-11mo-1w-1d-23h-25m ago
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 4y-11mo-1w-1d-23h-42m ago
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 4y-11mo-1w-2d-8m ago
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 4y-11mo-1w-2d-49m ago
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 4y-11mo-1w-2d-2h-23m ago
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 4y-11mo-1w-2d-3h-19m ago
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 4y-11mo-1w-2d-4h-36m ago
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 4y-11mo-1w-2d-7h-2m ago
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 4y-11mo-1w-2d-23h-3m ago
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 4y-11mo-1w-2d-23h-19m ago
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 4y-11mo-1w-3d-21m ago
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 4y-11mo-1w-3d-1h-13m ago
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 4y-11mo-1w-3d-1h-46m ago
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 4y-11mo-1w-3d-2h-21m ago
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 4y-11mo-1w-3d-3h-14m ago
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 4y-11mo-1w-3d-3h-41m ago
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 4y-11mo-1w-3d-6h-43m ago
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 4y-11mo-1w-3d-7h-14m ago
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 4y-11mo-1w-4d-14m ago
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 4y-11mo-1w-4d-36m ago
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 4y-11mo-1w-4d-43m ago
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 4y-11mo-1w-4d-3h-1m ago
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 4y-11mo-1w-4d-4h-10m ago
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 4y-11mo-1w-4d-5h-52m ago
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 4y-11mo-2w-2d-4m ago
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 4y-11mo-2w-2d-2h-29m ago
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 4y-11mo-2w-2d-4h-16m ago
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 4y-11mo-2w-2d-5h-38m ago
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 4y-11mo-2w-2d-6h-31m ago
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 4y-11mo-2w-2d-23h-3m ago
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 4y-11mo-3w-2d-3h-52m ago
