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Read all the latest news about multi-purpose and heavy-lift. ShippingWatch gives you independent, credible, critical and fair news.

Are MPP owners headed out of a ten-year slump?

Drewry eyes signs of recovery in the project cargo market in the second half of the year and into 2018. Part of the reason stems from improvements in competing sectors in dry bulk and container.

Thorco booked triple-digit deficit in 2016

Carrier Thorco, owned by Denmark's Stadil family, booked a deficit of DKK 632 million in 2016, reports business daily Berlingske Business. The loss is attributed to impairments and the sale of non-profitable vessels.

Ocean7 Projects set to merge with Ikonship

Ocean7 Projects has replaced the lost vessels, which the project cargo operator had to let go following the bankruptcy of Abis Shipping, with other Dutch-owned vessels from carrier Global Seatrade.

Banks prepare for next round of consolidation in multipurpose

In December, the two major Dutch banks ING and ABN Amro forced the first large-scale consolidation through in the ailing multipurpose sector. Now the market is waiting on what the banks will do next in the German hub for specialized vessels. Drewry eyes slight improvement in late 2017.

Thorco Projects in large-scale Dutch expansion

A Thorco-managed Dutch company combines 61 multipurpose vessels in a new joint venture with ships from, among others, bankrupt Flinter Group and Abis Shipping, Otto Torenbosch, head of Thorco Shipping in the Netherlands, tells ShippingWatch.

Banker har milliarder ude at svømme i projektskibe

To af Tysklands store og kriseramte långivere til shipping, NordLB og Bremer Landesbank, har alene 15 procent af deres udlån, 2,7 mia. euro, på højkant i en kollapset multipurpose- og heavy lift-industri.

Banks have lost faith in multi-purpose

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.

New Thorco Projects created in just four weeks

The new joint venture between Denmark's Thorco and United Heavy Lift (UHL) in Hamburg was established in just four weeks, explains Lars Rolner who through the Germany carrier brings significant expertise and engineering capacity to the collaboration.

Engineers boost heavy lift carrier

Engineers constitute the core of United Heavy Lift, which is owned and headed by Danish Lars Rolner. The Hamburg-based carrier achieved a satisfying profit in the past fiscal year, he tells Danish media Børsen.

Intermarine bets big on 23 newbuildings

US-based multi-purpose carrier Intermarine, which merged with Scan-Trans in 2012, has changed its business model and now holds the sector's largest orderbook. Too much poor tonnage in the market, says Ask Michael Munck, Managing Director Worldwide Chartering Services, Intermarine, in an interview with ShippingWatch.

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