CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.
Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.
Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.
The year-long conflict in the port of Gothenburg involving APM Terminals has proved expensive for Swedish industry. Swedish chamber of commerce projects that the conflict could trigger bankruptcies, according to newspaper Dagens Nyheter.
Key players in the large market for export of frozen fish from northern Norway disrupted Icelandic Eimskip's acquisition of Nor Lines. It would have weakened competition significantly, according to Samskip and other players in the market.
Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.
Rieber Shipping has trimmed a big chunk off its half-year deficit compared to last year, shows the interim report. But the offshore carrier, where a new CEO is taking over today, does not think that rates are cause for optimism.
The engine behemoth has booked huge losses on its Norwegian subsidiaries, Rolls-Royce Marine in particular. The UK parent company has subsequently injected more than NOK 2 billion in fresh equity into its marine business in Norway, which is severely strained by the downturn in offshore, reports Finansavisen.
The week brought half-yearly reports from five of the major Danish carriers: Maersk Line, Norden, Torm, DFDS, and J. Lauritzen. Meanwhile, several Danish shipping executives told ShippingWatch what drives them.
The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.
The past fiscal year dealt a blow to Bunker Holding's bottom line but did not damage CEO Keld R. Demant's expansion ambitions. "It's an industry that is ready to be changed and consolidated," he tells ShippingWatch.
The huge consolidation wave sweeping the container industry is about to wind down with Cosco Shipping's billion-dollar acquisition of OOCL, say several analysts to ShippingWatch. Two players look set to become losers in the wake of the trend.
They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.
An Indian newspaper reports that APM Terminals is preparing to sell its large stake in port Gateway Terminals India. If the sale happens, it could indicate that APM Terminals is on track to leave India entirely, writes Alphaliner in an analysis.