Delays on the world seas mean that several European and Asian port terminals are currently struggling with bottleneck situations, while containers are simply piling up on the quay. The Port of Hamburg is among those hit hardest.
Nordea did not wish to wait for a joint clarification of Torm's debt situation along with the other banks. When American interests looked willing to acquire the debt, Nordea acted, even though the price was low.
According to the British Prime Minister and the French Minister of Foreign Affairs, the EU could be ready to introduce sanctions against Russia already in a few days. The announced referendum on Crimea on March 16th could be decisive.
Norden has adopted a new strategy that applies from 2014 and going forward. Read the seven objectives that the carrier bets on to move on following the crisis in shipping. One of the objectives represents a partial break from cautiousness.
The EU Commission wanted a common foothold against Russia's efforts to postpone the NOx regulations to 2021, but the EU has now abanded a joint stance at the IMO summit in late March, according to ShippingWatch's sources.
Equity fund Oaktree acquires 13 ships from Torm that have been financed by Danish Ship Finance. The sale means that Torm's expected deficit for 2014 increases significantly, to as much as USD 280 million.