A rig manager who was employed at Maersk Drilling, working on rig Maersk Deliverer, has been convicted of serious fraud against the Maersk company. He will now have to pay USD 3.4 million to his now former employer.
The number of reported damages of more than USD 10 million in the first half of 2015 has already surpassed 2014 as a whole, notes the Nordic Association of Marine Insurers, Cefor, in its half-year report.
In the beginning it was something that the firms approached very cautiously. Then one carrier ventured into it. But now, according to SeaIntel, it looks as though the major container carriers have definitively embraced Corporate Social Responsibility.
Frontline's entry into the booming tanker market, new uncertainties about China's economy, and the half-year result from Germany's Hapag-Lloyd as well as a long line of LPG-players were just some of this week's top stories on ShippingWatch.
The massive dive in demand, and to a lesser degree new ultra-large vessels, has sent container rates on Asia-Europe hurling toward rock-bottom, says Hapag-Lloyd CEO Rolf Habben Jansen. The carrier lost market shares in the first half of the year.
The downturn in the offshore market has pulled the rug out from underneath the offshore carriers. Prospects of 20 percent overcapacity in 2016 will force even more carriers to pull ships from the market, Erik Tønne, chief analyst at Clarksons Platou Offshore, tells ShippingWatch.
This summer Team Tankers hired a new Chief Executive. Jens Grønning is out and former Stolt exec Hans Feringa will take over as CEO on September 1st. Chairman Morten Arntzen discusses the carrier's future in an interview with ShippingWatch.
In spite of the effects of a lower oil price and numerous positive factors in the shipping sector, the industry is still facing big challenges. And global growth is not helping, says NordLB in relation to the bank's annual report.