Nordic bank Nordea is currently reviewing guidelines for shipping customers regarding hazardous vessel scrapping. Danske Bank is also evaluating the issue of carriers' scrapping in Asia, the banks tell ShippingWatch.
Authorities are doing too little to enforce the rules regarding shipbreaking, says the chairman of the ESRA association of EU shipyards. He explains that ships often leave Europe without the necessary approvals.
John Fredriksen, who actually holds a Cypriot passport, has been listed as Norway's richest person by business magazine Kapital for the 15th consecutive year. Another shipping profile is ranked a bit further down the list.
Eight vessels from North Korea, currently subject to sanctions, have this year loaded oil cargoes in Russia, with China and South Korea listed as their destination. But the course was changed at a later point, reports Reuters.
Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.
Carriers have realized that they need to insure themselves against loss of earnings in the event of hacker attacks. Insurance companies report growing interest after the cyber attack against companies including Maersk in June.
APM Terminals' Managing Director in the Port of Gothenburg, Henrik Kristensen, takes stock after months of conflict: 35 percent of containers are gone, a negative result for the full-year 2017 after a triple-digit loss, and major customers have left. "Now we need to fight our way back," he tells ShippingWatch.
Wilh. Wilhelmsen will pay NOK 545 million to boost its ownership stake in offshore company Norsea Group to 72 percent. "We wish to have an exposure towards the energy market, primarily oil and gas," explains the company.