Things are far from as good as just a few years ago when consistent profits were the order of the day at intra-Asian carrier MCC. In an interview with ShippingWatch, CEO Tim Wickmann explains how a four-point plan is key to maintain black figures.
German carrier Oldendorff and Cargill Ocean Transportation have shared the title of world's by-far largest bulk operator with fleets of approximately 500 vessels. But Oldendorff has expanded heavily in 2016 in terms of fleet size, according to new numbers.
When container carrier Hanjin Shipping entered court receivership on August 31st of this year, the development instantly sent shock waves throughout the global container sector. Here is the timeline for the container industry's biggest collapse ever.
Accounting firm EY will evaluate whether Monjasa should have its Entrepreneur of the Year award from 2012 revoked. If this happens, the Danish company would join the ranks of IT Factory, which also had its prize revoked after a fraud scandal.
The nine major New York-listed dry bulk carriers have in the first three quarters of the year lost a billion dollars in total. Not one of the carriers has made a profit in even a single quarter, according to a survey from Alphabulk.
OPEC's decision to slash crude output by 1.2 million barrels per day will hit VLCC earnings next year, project several analysts. As such, the supertankers could face the worst earnings year since 2013.
Bondholders in offshore carriers such as Havila Shipping, which was rescued from bankruptcy in the nick of time last week, are so resentful of the banks' role in the debt game that they are considering boycotting the banks entirely. This could hit the already hard-pressed offshore carrier sector.
The Russian government has sold a large stake in Rosneft to commodity trader Glencore and a fund managed by the Qatar state. The sale worth USD 11 billion is described by Putin as one of the biggest transactions in the oil and gas sector this year.
The ailing multi-purpose and heavy lift sector could tumble further down next year, for which very few contracts have been signed so far, according to assessments from operators. Drewry downgrades its already weak forecast.
Based on numbers from Brazilian analyst agency Datamar, Solve Shipping in São Paulo ventures a precise guess as to how big Maersk Line and Hamburg Süd will be on the crucial and profitable reefer market out of South America's large agricultural land.
Monjasa is replacing its director of the Danish business, Ricky Kenbjerg. The business in Denmark has shrunk significantly after the group moved its headquarters to Dubai. The bunker industry is relieved that a name has finally been attached to the case.