Norwegian Golden Ocean made big impairments in the fourth quarter and booked a giant deficit for 2014. The weak market could send less robust dry bulk players tumbling down, and open up for consolidation possibilities, according to the carrier.
The EU Regulation meant to raise the standards of ship recycling does not specifically ban the use of beaching when vessels are scrapped. Guidelines on the requirements of the regulation are expected to be adopted this spring.
Greek banks are trying to massively offload the banks' billion dollar debt to the shipping industry, according to Reuters. This is caused by factors including a fear that Greece could be thrown out of the Euro Zone.
The first new orders in Maersk Line's newbuilding program will be placed in the second quarter this year. The current environment is ideal for new ship orders, CFO Jakob Stausholm tells ShippingWatch following a satisfactory 2014 for the carrier.
Salvage and rescue carrier Svitzer took another big hit this year in Australia, which has been a main market for the company since 2007 along with Europe. Svitzer is now targeting new growth markets, says CEO Robert Uggla.
The Nicaragua Canal represents a potential environmental disaster, warn three international environmental scientists in renowned journal Science. The billion dollar project was officially launched in December.
Drilling company Seadrill, which has received a severe beating on the stock exchange this fall and winter, managed to improve its operating result in the fourth quarter. The company expects to benefit from the current downturn in the market.
Strategical differences in management at Thorco have now made CFO Kent Hedegaard leave the company as well. Just a few days ago, Clipper Group CEO Kristian Mørch opted to resign from board of the Stadil-controlled multipurpose carrier for the same reasons.