Two major shareholders voice criticism of Maersk's declaration to disregard EU shipbreaking rules. Nordea Wealth Management wants to know why Maersk refuses to comply with EU regulations, scheduled to take effect in 2017, and Norway's KLP calls the stance "unduly aggressive".
Not a single exploratory drilling has taken place this year in the Danish North Sea shelf, and there is no promise of any in 2017. Struggling oil companies and one delayed bidding round are the reason, says the Danish state oil and gas company Nordsøfonden.
If the IMO should decide next week to lower the limit for sulfur content in marine fuel to 0.5 percent as early as 2020, the demand for more environmentally friendly fuel will explode, writes Alphabulk.
Mads Zacho explained how he plans to get J. Lauritzen back on its feet, Maersk's shipbreaking troubles intensified, and two Norwegian shipping families joined forces in a new bulk partnership between Grieg Star and Gearbulk this week. Read about how shipping talent is developed as well.
According to local media, South Korea's government is considering an alliance of small and medium-sized carriers under the name "Team Korea" in order to close the gap left by Hanjin Shipping. Should the alliance materialize, they could end up sailing on the routes between Europe and the US.
The decision from major bank ING to stop financing the multi-purpose group Flinter is a premonition of what is yet to come for owners and operators in the suffering specialized bulk sector, predict sources to ShippingWatch.
Maersk Group's oil division is in talks with state-owned Iranian oil company NIOC to expand oil and gas in Iranian waters, confirms Maersk Oil to Berlingske Business. Meanwhile, Maersk Line resumes activity in the country.
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 new dry bulk partnership between Gearbulk and Grieg Star was started by tradition-bound shipping families Jebsen and Grieg, who have known each other for decades. Now, they will form a dominant player in bulk's open hatch segment, says Chairman of Grieg Star, Elisabeth Grieg, to ShippingWatch.
The worst is over for Kvaerner despite the offshore industry's struggles. Upgrading and decommissioning of existing offshore facilities as well as focus on total enterprise have been put forward as the solution, says Kvaerner CEO, Jan Arne Haugan to ShippingWatch.