2015 once again brought severe capital market beatings to dry bulk players such as Western Bulk as well as offshore supply carriers, while tank and gas are driving up share rate developments on the Oslo Stock Exchange.
Consolidation in the container industry, the on-going legal battles one year after the collapse of OW Bunker and third quarter results from numerous John Fredriksen-controlled companies took center stage this week on ShippingWatch.
Product tankers are currently sailing longer distances than in the past ten years, according to new numbers from Clarksons Platou. Growth in ton/mile for the first nine months of the year increased seven percent to, climbing to a ten-year high.
Even a strong tanker market is finding it hard to attract investors. "The crisis in dry bulk and container is contagious," says senior analyst Stig Frederiksen from Nordea Bank, pointing to several similar traits.
British-Australian Rio Tinto is gearing up for a massive expansion of production from one of the world's biggest bauxite deposits. This happens after the mining group has secured approval for a billion dollar project that includes, among other things, a new mine and port facilities.
UK-based classification bureau Lloyd's Register improved its revenue but suffered a setback on its operating profit in 2015. Chairman Thomas Thune Andersen is pleased with the results in a challenging market.
While virtually all carriers have kept it to themselves if they have paid twice for bunker from now-collapsed OW Bunker, one carrier has decided to speak openly. The loss could come to several hundred thousand dollars.
A new study is examining the possibility of using drones to monitor sulfur emissions from ships. Flying drones out of Hamburg may be a reality by the end of next year, an EMSA spokesperson tells Sustainable Shipping.
The biggest container port in the North, Port of Gothenburg, fluctuates in line with the industry and similarly notes the tough times for the container carriers. Lower growth forecasts going forward, says CEO. A new Volvo model represents a bright spot for the big port.