The board of directors of Hyundai Merchant Marine has decided to buy a 20 percent stake in collapsed rival Hanjin Shipping's Total Terminals International, which operates container terminals in Long Beach and Seattle.
Hapag-Lloyd has launched the process to streamline UASC and execute its redundancy plan. Rumors are circulating at the soon-to-be former HQ of the Arabic container carrier in Dubai. ShippingWatch can present the new regional manager who will effectively replace UASC CEO Jørn Hinge.
Maersk Group CEO Søren Skou says in an interview with Bloomberg TV during the Davos summit that he thinks the most likely scenario for the group's energy business is an IPO. Søren Skou also projects increasing global trade.
A court has ruled that Japan's largest carrier, Mitsui OSK Lines, and not shipbuilder Mitsubishi, is responsible for the wreck of container ship MOL Comfort, in which the ship broke in two. A milestone in the case, says lawyer Jesper Windahl, Windahl Sandroos & Co., who anticipates several new claims.
Thornico group's dry bulk carrier Thorco Bulk has built up enough revenue after just six months that it will now expand by hiring more employees. The carrier will gain its own CFO, says Managing Director Marc Slinger to ShippingWatch.
Damen Shipyard, the largest shipbuilding group in the Netherlands, was subjected to a dawn raid this week by the country's tax authority. According to several media reports, the raid is part of investigations into a case related to corruption and bribes.
Iceland Seaman's Union believes a new deal with Eimskip now secures employment for members. The crews on board the carrier's vessels will be the focus of attention among Danish navigators when Eimskip and Royal Arctic Line launch their partnership in the North Atlantic.
The oil companies' discoveries of new liquid oil and gas resources have declined 90 percent since 2010 and are now hovering at the lowest level since the 1940s, according to Rystad Energy. The Norwegian shelf in particular has disappointed in 2015 and 2016.
Gas carrier Höegh LNG has ordered a series of large FSRUs from South Korean shipyards Hyundai Heavy and Samsung Heavy. The ships are set for delivery in 2018 and 2019 and will work on contracts in Ghana and Pakistan.
Norway's Kjell Inge Røkke and his Aker group are allegedly weighing a sale of offshore-engineering business Aker Solutions. The company is discussing various options with potential adviser Goldman Sachs, sources say.
The ailing multi-purpose and heavy lift sector could tumble further down next year, for which very few contracts have been signed so far, according to assessments from operators. Drewry downgrades its already weak forecast.
The Barents Sea is home to just three out of 56 recently distributed oil licenses in the latest Norwegian licensing round, where Aker BP and/or Statoil are involved in 75 percent of all the tendered fields.
Two generations in the Maersk family hold central positions in the investment company A.P. Møller Holding, which has now recruited two experienced Maersk execs. With CEO Robert Uggla's own information officer, the company will take on a more outgoing profile. ShippingWatch outlines the new firm here.