Trafigura CEO: Continued oversupply on the oil market

2017 has been a year characterized by continued oversupply on the market for oil and oil products, says Trafigura's CEO in relation to the commodity trader's annual report. But the situation already looks brighter starting next year.

This week's top stories on ShippingWatch

Interviews with the CEO's of Maersk Line, Hamburg Süd and Hapag-Lloyd, and a tragic accident on a drilling rig, are among this week's top stories on ShippingWatch.

New Norwegian shipping bank expects another capital increase

CEO Halvor Sveen expects that the recently launched shipping bank Maritime & Merchant will soon need additional capital in order to service the towering demand for credit services in the shipping sector. "It's been a busy year, " he tells ShippingWatch.

US maximizes pressure on OPEC

Insight: Major uncertainty regarding development in shale oil production in the US leaves oil exporters in a highly delicate position.

This week's top picks on ShippingWatch

Denmark's Western High Court cleared Monjasa and founder Jan Jacobsen in the protracted fraud case, while marine insurer Lavaretus was hit by a mass resignation. These stories and more took center stage this week on ShippingWatch.

Prosecutor describes case against Monjasa as "unusual"

The Danish Attorney General's Office for financial crimes (SØIK) could have commissioned an independent assessment of a crucial fuel report in the case against Monjasa and Jan Jacobsen, both cleared this Monday, the deputy state prosecutor tells ShippingWatch, describing the case as "unusual".

CEO transformed new player in marine insurance

Insurance group Neon, which has hired numerous Lavaretus employees for a new Danish office, was struggling for survival just a few years ago. A strategic overhaul has meant that the company is now launching a charge into the marine insurance market with offices in Copenhagen and Genova.

Law firm forced to withdraw from OW case

Law firm Bruun & Hjejle is resigning from the case against former management of OW Bunker due to a conflict of interest, according to Danish newspaper Børsen. ATP confirms this to ShippingWatch.

Confusion at Lavaretus after mass resignation of Copenhagen staff

It came as a complete surprise to the founders of Lavaretus when the entire Copenhagen office recently resigned to instead join a competing firm. According to ShippingWatch's sources, there is no immediate clarification about the office's future. Maersk, a key customer, remains calm.

Monjasa founder dug out crucial evidence to secure acquittal

An unknown bunker company, a technical report and testimony from a former head of sales helped secure the acquittal of Monjasa and founder Jan Jacobsen at Denmark's Western High Court. Jacobsen himself unearthed several crucial pieces of evidence.

"Small IPOs are dying out, and that's good"

In step with traditional shipping banks clamping down on loans to the industry, alternatives such as bonds are gaining traction, says investment bank Stifel which believes the trend has reversed in 2017.

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