Monjasa suffered massive deficit, while broker Lightship lost a dramatic court case to a former partner. And Dong found a buyer for the company's oil and gas business. Here are this week's top stories on ShippingWatch.
After the Spanish government successfully adopted a decree to open competition in the country's ports, a large-scale conflict now looms and could erupt on Wednesday. Meetings on Monday and Tuesday will decide what happens.
Spain's government seems to have a majority backing for a new legislative proposal which would privatize Spanish ports after 15 years of deadlock. Unions have already retaliated and call for widespread strikes in May and June. "They cheated us," state the dockworkers.
The Port of Gothenburg has now been hit by APM Terminals' lock-out in the intense conflict with port workers. For this reason, the port company has been forced to limit service throughout the rest of May and the month of June. Customers are leaving the port due to the conflict.
The EU Commission has introduced new rules for state subsidies to ports. This will make it easier and more simple for member countries to invest, and is expected to reduce the number of cases in need of approval from the commission.
APM Terminals has filled the position of CFO which has been covered by interim appointees since the former chief financial officer switched to a new position following a big executive reshuffle. The new CFO joins the company from Royal Dutch Shell.
Shipping banks have impaired loans for USD 3.4 billion and DHT stopped an attempt by Fredriksen's Frontline to block the transaction with BW Group. These stories and more were featured this week on ShippingWatch.
The Port of Rotterdam has experienced a notably large increase in the number of containers during the first quarter of 2017. Port authority CEO Allard Castelein believes that the new alliance constellation could lead to a strong year in container for the port.
J. Lauritzen's bondholder dispute was resolved, the carrier relying on money from its owner. More details emerged about the EU approval of Maersk's takeover of Hamburg Süd. And Rickmers Maritime had to throw in the towel. Keep up with this week's top stories on ShippingWatch.
The competition to supply fuel from of Denmark's Port of Skagen is growing more intense. Monjasa no longer has a permanent bunkering vessel affiliated with the company's oil terminal at the port. However, Monjasa's COO and the port CEO both expect that the vessel will return.
Swedish ports such as Helsingborg and Norrköping have experienced an increase in volumes since the conflict between APM Terminals and port workers erupted in Gothernburg. Feeder carriers have also reported an unusual increase in eastern Sweden.
Significant resignations at J. Lauritzen, large deficits from Hapag-Lloyd and the rest of the container sector, the Maersk Group General Assembly, and massive volumes of oil left on two sunken Maersk vessels featured among this week's top stories.
Three offers have been submitted for the Port of Thessaloniki in Greece. DP World is among the bidders for the controlling stake in the port, which will be privatized as part of the Greek debt agreement.
Danish pension funds will invest big-time in shipping, a new COO at French container carrier, and a new deal between Denmark and oil majors for the North Sea are some of this week's top stories on ShippingWatch.
Hong Kong-based Hutchison Port Holdings saw its revenue drop in 2016, while cargo volumes fell due to factors such as intensifying competition in Rotterdam. The company has a cautious approach to 2017, says management in the annual report.
Shipowner Johan Wedell-Wedellsborg opened up about the sale of Stena Weco to Stena Bulk, Maersk Group CEO Søren Skou is building a new CEO Office, and the dry bulk shares have skyrocketed in 2017 so far. Here are this week's top picks on ShippingWatch.
Global Ports, which is partially owned by APM Terminals, experienced a large decline in revenue in 2016 following significantly reduced container activity in Russia. "The Russian container market remained sluggish," says CEO Vladislav Baumgertner. But there are signs of improvements ahead.
The Spanish port workers have decided to call off an announced strike today, Friday, as well as the three remaining strike days in the comprehensive protest against the government, after the Spanish congress has votes against a proposal concerning labor reforms, report several media.
Maersk plans to sue a Spanish billionaire, Torm CEO Jacob Meldgaard talks to ShippingWatch after the release of the carrier's annual report for 2016, and dry bulk may be closer to recovery. All this and more on ShippingWatch this past week.
APM Terminals has signed an addendum to the concession with the Port of Gothenburg, which means that the Maersk Group port unit will invest another SEK 250 million in the port ahead of 2024. The investment happens alongside a gridlocked labor conflict in the terminal.
The dockworkers organized in the International Dockworkers' Council (IDC) have postponed the strikes otherwise scheduled to take place in ports across the world on Friday, March 10, to instead March 23. But IDC has withdrawn from the so-called social dialog headed by the EU.
The International Dockworkers' Council is planning coordinated strikes in Europe and the rest of the world on Friday to signal solidarity with the Spanish port workers, which are currently in a conflict with the government concerning a new bill.
APM Terminals has filed a lawsuit against the Spanish businessman and former owner of Grup Maritim TCB, Ángel Pérez Maura. The company is seeking compensation after becoming entangled in a Guatemalan corruption case. Maura also sued APM Terminals.
Spanish port strikes, set to be launched today, have been temporarily called off, as Spanish port workers "seek to show goodwill" and attempt new negotiations with the Spanish ministry of labor, report media.
The conflict in the Port of Gothenburg between APM Terminals and the port workers organized in union Svenska Hamnarbetarförbundet has lasted close to a year. Read on to learn what the parties differ on, and why a labor market expert believes that the conflict could continue for a long time.
Maersk Line will reroute vessels in order to minimize the nuisances for customers when the Spanish port workers launch their announced strike in coming weeks in protest against the government's plans to liberalize the ports.
When the new executive team is settled at APM Terminals, CEO Morten Engelstoft will set aside three days to develop a new strategy for the port company. Significantly fewer people than before will perform the task after a large reduction last year.
Gridlocked negotiations between APM Terminals and dockworkers in Gothenburg, a new full-year deficit for J. Lauritzen, and a change in strategy at Damco are among this week's top stories on ShippingWatch.
Slightly more cargo passed through the Port of Hamburg in 2016 compared to the year before. Container volumes increased, while the port was also able to increase volumes from China. But there is still some distance to Rotterdam and Antwerpen.
The conflict between port workers and the management of APM Terminals in Gothenburg has reached a total impasse and is now at its most severe point since the conflict began close to a year ago. A crucial meeting between the parties Wednesday ended without a result.
APM Terminals will invest USD 200 million in its terminal in Port Elizabeth on the US East Coast. The move will prepare the terminal for the ultra-large container vessels which are soon expected to call in the port.
APM Terminals has received the final approvals to operate the newly built terminal in Guatemala, which is at the center of a large-scale corruption scandal. The first ship called on Sunday, and the terminal is expected operational soon. The opening was met with local protests.
The maritime sphere in Europe is far from in agreement when it comes to limiting CO2 emissions from shipping. While the shipowners are highly critical of the European Parliament's plan to include CO2 in a cap trading system, the ports praise the proposal. "Most unfortunate," say the shipowners.
Trendsetting companies in sectors such as tanker presented financial reports, APM Terminals opened up about the future partnership with Maersk Line, and we got to know a shipping company which usually subscribes to a great degree of discretion. This week's top picks on ShippingWatch.
CEO Morten Engelstoft has already kicked off the work to bring APM Terminals and Maersk Line closer together. In an interview with ShippingWatch, he outlines three concrete points on which the two companies will help each other.
Swedish dockworkers have announced more strikes at the Port of Gothenburg. According to Swedish industry media Dagens Industri, the managing director of APM Terminals in Gothenburg, Henrik Kristensen, calls on the Swedish government to help resolve the conflict.
Only 1.2 percent more containers went through the Port of Rotterdam in 2016, according to a review of the revenue last year at Europe's biggest port. But the combined revenue for all segments declined.
15 years after the first application was submitted, the Port of Hamburg has now secured approval for an expansion of the Elbe waterway. In particular, the port hopes to attract more of the ultra-large container vessels which sail to and from China. But environmental NGOs oppose the expansion.
Digitalization emerges as the theme when outlining the reasons behind the nomination of Jim Hagemann Snabe to chair Maersk Group and replace Michael Pram Rasmussen who is stepping down. Here is a portrait of Snabe and a focus on some of the digital challenges.
Dubai-based terminal operator DP World increased its handled volumes of twenty-foot container units in 2016. Volumes grew six percent in the fourth quarter alone, says the company, noting that this development was driven mainly by strong growth in Asia, the Pacific, and Europe.
Perhaps Maersk Line can expect a positive result in its interim report, set for release next Wednesday. The battle for the ballast water market has begun. John Fredriksen struggles with two separate issues. And Shipping and offshore are hurting banks. Read this week's top picks on ShippingWatch.
Port of Gothenburg was able to increase its combined cargo volume by close to three million tons in 2016, but the conflict between the Swedish port workers and APM Terminals contributed to declining container throughput and led to "major disruptions."
Offshore and marine company Keppel delivers its smallest annual profit in ten years and will thus close three yards in its homeland of Singapore. The workforce has been reduced by about one third and the CEO is ready to do what is necessary.
A new port in Angola in West Africa is financed by a major Chinese loan and being built by a Chinese company. The first phase is expected done in late 2017 and will feature a repair yard and a free trade zone.
The Port of Hong Kong handled far more containers in December than in the same period last year, but the overall container throughput in 2016 is a major disappointment and marks the lowest level since 2002.
Dismissals at J. Lauritzen, new cases in the wake of OW Bunker, and the crisis in the oil and gas sector leading to fresh firings at Maersk Oil – these were among the top stories on ShippingWatch this week.
Shanghai cemented its position as the world's busiest container port in 2016. Despite a tough year for global trade, the port succeeded in increasing the number of twenty-foot containers. Singapore follows in second place.
Massive investments and not least dredging is needed in the Port of Gothenburg if the Swedish port is to maintain its status as Scandinavia's top container hub, notes a new OECD report. More direct container routes represent a crucial asset for the port.
Interview with Maersk Tankers' new CEO, Christian Michael Ingerslev, a new Asian container alliance, a surge in dry bulk shares, and rigs ready to be scrapped in the North Sea were some of this week's top stories on ShippingWatch.
Increasing pressure on all business segments meant that big decisions had to be made at Maersk Group's headquarters in Copenhagen, but stock market developments suggest that the outcome has been positive.
Europe's largest port, Rotterdam, is demanding full transparency in the state aid for competing ports such as Antwerp and Hamburg, after the EU Parliament recently passed a port package which has been in the works for 15 years.
The forecasts are all positive when it comes to global economic development but the risk factors have not diminished. Finans can guide you through the bright spots and the pitfalls of the global economy in 2017.
Korea's top port, Busan, will take a big hot from the collapse of Hanjin Shipping and the subsequent changes reverberating through the container alliances, where Hyundai Merchant Marine will now collaborate with 2M, reports Korea Herald.
Mitsui OSK Lines was blamed for a dramatic 2013 wreck, Hyundai Merchant Marine lashed out at Maersk Line, while Kristian Mørch talked about his turnaround of Odfjell this week on ShippingWatch, which also brought news about Thorco, Rickmers Maritime, and the oil sector.
The port in Guatemala which APM Terminals acquired earlier this year as part of a Spanish terminal group, and which turned out to be plagued by severe corruption accusations, is expected to launch operations soon, APM Terminals tells ShippingWatch.
MSC has signed a deal to acquire Hanjin Shipping's stake in Total Terminals International, which covers the terminals in Long Beach and Seattle in the US. MSC will thus become sole owner of the terminals.
The ports by the Baltic Sea seem to be catching up after the downturn they experienced when sanctions were introduced against Russia in 2014 in response to the Crimea crisis, according to a new analysis from SeaIntel.
Maersk finally presented its plan for what the group will look like going forward, and what will be sold off. The group also received some rare criticism from Denmark's conservative government. A new shipping bank saw the light of day, and another wants to be global. Here are this week's top picks on ShippingWatch.
APM Terminals is fed up with the strikes and other industrial actions from dockworkers in Gothenburg over the past year. A new strike warning has prompted APMT's management to herald a partial lockout. Meanwhile, a major customer is deliberating whether to leave the port.
Norden off to a weak start in dry bulk in 2017, a record-large deficit for DSV, strong results from oil majors, and increased political focus on shipping by US and EU authorities were among this week's key stories on ShippingWatch.
Several EU member states, including Denmark, are currently having their state subsidies to carriers and maritime businesses scrutinized, while John Fredriksen's efforts to take over DHT continue. And ShippingWatch was present at the major shipping conference in Singapore this week.