Sunken Maersk Supply Service vessels contain tons of oil

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The two Maersk Supply Service vessels which sank off the coast of France last year contained a total of 192,000 liters of oil and oil residues, according to an inventory of hazardous substances in the vessel's tanks. The carrier has confirmed the figures, while an environment expert says the ships must be emptied or salvaged.

CEO Habben Jansen will now pay back Hapag-Lloyd's owners

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Hapag-Lloyd CEO Rolf Habben Jansen heralds a pause in growth for the German carrier in order to digest the mergers with CSAV and UASC and cater to the owners who have lost vast sums in recent years. He does not share the optimism for the market expressed by other carriers.

Lauritzen's head of dry cargo steps down

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J. Lauritzens' head of dry cargo, Peter Borup, has stepped down from the carrier "following mutual agreement." The carrier is currently struggling to settle a refinancing agreement. The head of Lauritzen's gas vessels will serve as interim head of dry cargo.

J. Lauritzen drops meeting with bondholders

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Danish bulk carrier J. Lauritzen has decided to give up an agreement with a group of recalcitrant bondholders ahead of a meeting Tuesday. At the meeting, bondholders will vote for the carrier's suggestion to set aside NOK 500 million of debt. J. Lauritzen is currently working on a new proposal.

DVB: Shipyards deflating the shipping economy

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Even though some of the Asian and, especially, South Korean shipyards are cutting costs, production capacity available at yards in Asia represents a fundamental challenge for the economy in the shipping sector, with an equilibrium being far off, DVB tells ShippingWatch.

Stena RoRo puts its buying and selling on hold

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After for years having been buying and selling RoRo and RoPax tonnage, Stena RoRo is now putting its role as merchant on hold due to fiercer competition in the RoRo market in particular. The company's bet on Asia has yet to pay off, CEO Per Westling tells ShippingWatch.

Somali pirates hijack vessel

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Somali pirates have hijacked a vessel with the intention of using it as a mothership for attacks on larger vessels, say Somali police according to Reuters. This comes shortly after another commercial vessel was hijacked in the region for the first time in five years.

Svitzer's growth in Asia lower than expected

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Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.

Maersk Line: Anti-corruption effort working

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The container carrier has from 2015 to 2016 virtually eliminated the use of so-called facilitation payments, namely the mild form of bribes as payment in the form of, for instance, cigarettes for pilots, customs officials, and port authorities, reports Danish media dr.dk.

Last week's top stories on ShippingWatch

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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.

Unifeeder hit by dominance of German banks

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The downturn in German shipping means that a smaller number of banks have now taken over a large number of feeder vessels from ailing shipowners. This development was noted at Unifeeder in the first half of 2016, as charter prices increased. Yet this trend has turned around, says CEO Jesper Kristensen.

Norwegian bondholder rejects new Lauritzen offer

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Capital manager Alfred Berg Kapitalforvaltning does not seem to have softened its stance following an improved offer from J. Lauritzen to its bondholders. The response at this point is another no, as the carrier has still not been in touch with the company, Alfred Berg tells ShippingWatch.

J. Lauritzen improves offer to bondholders

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After criticism from several bondholders, J. Lauritzen has decided to change the conditions of the offer which was made to them. Without an acceptance, the refinancing package cannot be approved. The meeting with bondholders in Oslo has been postponed to March 28.

Klaveness: Three challenges in dry bulk growth

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Although Klaveness in Singapore is currently experiencing growth in the business along with high revenue when it comes to dry bulk, there are still three challenges luring on the horizon, explain two Klaveness executives in an interview with ShippingWatch.

Shippers want the EU to look into liner rules

"If the container carriers see themselves as key players in the supply chain, they have failed," European shippers tell ShippingWatch following a members’ meeting Tuesday. The European Shippers' Council is ready to involve the EU to weigh the dominance of the three alliances.

Ultrabulk CEO: Dangerous imbalance in dry bulk

There are the optimists in dry bulk, who believe that a recovery is in progress. And then there are the ones who believe that it will likely be 2018 before the market is healthy again. And then there is Ultrabulk CEO Per Lange, who simply points to an imbalance that is hard to ignore.