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Read all the latest news about . ShippingWatch gives you independent, credible, critical and fair news.

Bondholders could knock down J. Lauritzen's bank deal

Mads Zacho 4.jpg Bulk:

Two thirds of the bondholders need to vote in favor of repayment of their loans being postponed, otherwise J. Lauritzen's entire, new refinancing package, including backing from the banks and owner Lauritzen Fonden, will collapse. ShippingWatch has interviewed CEO Mads Zacho about the prospects.

J. Lauritzen suffers new full-year deficit in 2016

lauritzen1.jpg Bulk:

Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.

J. Lauritzen loses bunker deal with Hafnia

lauritzen.jpg Tanker:

Although both parties were seemingly pleased with the results, J. Lauritzen's arrangement to handle Hafnia Management's bunker acquisitions has been canceled, effective April 1. The deal has secured Lauritzen one dollar per purchased ton of bunker oil.

Lauritzen withdraws from offshore flotel venture

Lauritzen.jpg Offshore:

Axis Offshore will be merged with Norway's Prosafe – and J. Lauritzen will thus go from being an active player in the offshore sector to serving merely as a financial investor. The downturn in the oil- and gas market makes the merger the only right move, Axis CEO Jesper Kragh Andresen tells ShippingWatch.

Last week's top stories on ShippingWatch

Mads Zacho 4.jpg Carriers:

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.

J. Lauritzen supports Maersk in Alang controversy

værftsarbejdere.jpg Carriers:

J. Lauritzen deems it visionary of Maersk to recycle vessels in Alang. If India is going to improve, the carriers have to put on the pressure, the bulk carrier tells ShippingWatch. Norden cites the Hong Kong Convention, just as Maersk does. Torm is working on its scrapping policy.

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