Eight vessels from North Korea, currently subject to sanctions, have this year loaded oil cargoes in Russia, with China and South Korea listed as their destination. But the course was changed at a later point, reports Reuters.
Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.
India will spend USD millions on improving the conditions at shipbreaking facilities in Alang, to ensure that they comply with international rules and regulations. Some of the money for the project comes from Japan.
Authorities are doing too little to enforce the rules regarding shipbreaking, says the chairman of the ESRA association of EU shipyards. He explains that ships often leave Europe without the necessary approvals.
Following the announced merger with Navig8, Scorpio Tankers delayed its interim report, published instead today, Monday, and which shows a deficit for the first six months. The numbers further underline the strain on the product tanker sector.
There are no other interesting acquisition candidates for Maersk Line if the Hamburg Süd purchase fails, says Lars Jensen, CEO of Seaintelligence Consulting. Instead, the carrier will have to do what it should have done a long time ago, he tells ShippingWatch.
The International Maritime Organization is now urging dry bulk carriers to exhibit extreme caution when transporting bauxite, which can liquefy during voyages. However, the official rules will not be updated until 2019.
Hapag-Lloyd has, by its own account, grown significantly in the reefer segment following the merger with United Arab Shipping Company. The carrier has therefore now ordered 7,700 reefer containers, set to be produced in Chile.
China's escalating acquisition of ports and carriers is a sign of its commitment to its political vision of becoming a maritime superpower, prompting concern among European carriers, which have allegedly called for political attention to the matter – both nationally and within the EU. Next week's meeting of the Box Club will no doubt also revolve around the issue.
Compensation claims filed against collapsed OW Bunker, the publication of names of sulfur violators, and J. Lauritzen's Supreme Court defeat against MAN Diesel & Turbo were among this week's top stories on ShippingWatch.
Hapag-Lloyd along with its three Japanese partners and Yang Ming have received approval for a fund to help protect the alliance's customers if one of the partners suffers financial problems. Several million USD will be injected into the fund.
It is important to ensure that cases relating to sulfur fraud are made public, and that violators are named. "Sulfur violation should be a commercial matter," says Danish Shipping's Deputy Director Maria Bruun Skipper.
The member nations are playing a risky game when they leave responsibility with the IMO to reduce pollution from shipping, says NGO Transport & Environment after the EU Council opposed including shipping in the EU Emissions Trading Scheme.
Danish police has issued 17 fines to carriers that have sailed with sulfur content that is too high, and thus illegal, in their fuel. ShippingWatch can name one Dutch, one Faroese, and one Singaporean carrier as Denmark's first three sulfur sinners.
Carrier J. Lauritzen must pay approximately DKK 2 million to engine manufacturer MAN Diesel & Turbo after Denmark's Supreme Court reversed a ruling this Wednesday in a protracted case regarding defect marine engines.
There is no doubt at DFDS: Today's hackers are so good that it is simply a matter of time before they wreak havoc at the carrier. CFO Torben Carlsen tells ShippingWatch how DFDS can best protect itself against the threat.
The ambition to include shipping in the EU Emissions Trading System is hanging by a thread. According to a document which ShippingWatch has gained access to, the influential Council of Ministers describes the idea as "unacceptable." This is happening at a meeting in Brussels Wednesday.
Collapsed South Korean carrier Hanjin controlled a fleet of 102 container vessels, which have since been absorbed by other carriers. One carrier in particular has taken over a third of Hanjin's former capacity, writes Alphaliner.
Chinese authorities have designated more ports as being in special zones where ships are required to use low sulfur fuel, and the country weighs tightening the sulfur emission limits even further starting in 2018, reports Seatrade Global.
In the future, ships will be able to use propellers printed on a 3D printer. The world's first prototype and class certified propeller is a reality, and another one will now be printed and likely installed on a vessel.
Despite challenging market conditions and strained earnings in recent years, the shipping sector should already now consider how to best approach CO2 reduction, conclude researchers after a four-year research project.
Ship exhaust intensifies thunderstorms, shows new US research. Powerful lightning in the Indian Ocean, the Malacca Strait, and the South China Sea has struck exactly where the vessels sail, show 12 years of registrations. See the comparison here.
Container carriers are finally starting to understand the use of social media. Or at any rate, the carriers seem to be more present on these platforms. Two carriers in particular are doing well, concludes SeaIntel in a new analysis.
Yet another large order for as many as 11 container ships to MSC is currently being negotiated and settled in South Korea, inform the country's shipyards – but the carrier has not confirmed the order, for which the tense relationship to North Korea allegedly figures as a joker.
The chemical and product tanker market will see improvement this year as well as next, and revenue from vegetable oil will rise again. This is the assessment from the CEO of chemical tanker carrier Team Tankers. He also anticipates growth for 10-mile vessels.
People have written Jacob Meldgaard off on several occasions but have always been proven wrong. Torm continues to exist and Meldgaard continues to be CEO. ShippingWatch portrays a maritime executive to whom some people owe their careers, while others find him hard to read.
A protracted conflict in the Port of Gothenburg will be costly for Maersk in 2017, German Rickmers' struggles to survive, and new CEO at Blue Water Shipping were among this week's top stories on ShippingWatch.
German business man Kurt Zech may not be a shipping magnate, but during 2017 so far he has become involved in the industry with the acquisition of Rickmer's Line and now Rickmers Management through the company Zeaborn.
The new capital fund established by Maersk Group is not concerned about the strong competition from China when it begins investing in Africa. "We have good experience with joint ventures and collaboration with Chinese companies," Maersk tells Danish media.
Denmark's Blue Water Shipping has found its new CEO, appointing Esvagt Chief Executive Søren Nørgaard Thomsen, after a year and a half where founder and owner Kurt Skov served as interim CEO, Skov confirms to ShippingWatch.
Danish Maritime Forum has been given new life as the Global Maritime Forum, backed by prominent names such as A.P. Moeller-Maersk, Euronav, the Onassis Foundation, and PSA. "The maritime industry needs a shared platform to tackle collective challenges, " says Paddy Rodgers, CEO of Euronav.
Zeaborn Group and Bertram Rickmers have won a bidding war to acquire the ship management division of Rickmers Group in a transaction that will ensure continued operations of parts of the insolvent carrier.
Carriers in the cruise ship sector stated last year that they would install soot filters to limit the emissions of harmful particles from their fuel. According to a German NGO, they have yet to install such filters.
Chemical tanker carrier Team Tankers projects consolidation in the chemical market. After the carrier has cut one fourth of its fleet, it is now prepared to expand through acquisitions, and two markets are especially interesting to CEO Hans Feringa, as he tells ShippingWatch.
Bourbon Offshore's operating deficit grew in step with the oil industry's lacking investments in the first half year. Despite a small improvement in offshore, the prices will remain strained, expects the carrier.
Carriers have realized that they need to insure themselves against loss of earnings in the event of hacker attacks. Insurance companies report growing interest after the cyber attack against companies including Maersk in June.
Chinese Cosco Shipping has initiated a time charter deal with Singapore's PIL for 12 vessels. Earlier this year, it was rumored that PIL would be the next acquisition in the consolidation wave in the industry, report several media.
Improvements at the yard mean that the scrapping of the two Maersk vessels, which arrived in Alang more than one year ago, will not be completed until this fall. The yard has, among otger installed a 300-ton crane, Maersk tells ShippingWatch.
Chilean container carrier CSAV has had to dilute its stake in Hapag-Lloyd by USD 167 million following the German carrier's merger with UASC. CSAV is looking to get back to a stake totaling one fourth of the shares, says the carrier in its interim report.
The Icelandic carrier maintains its expectation to land an operating result of almost EUR 63 million in 2017 after releasing its Q2 report. Exchange rate effects contribute to reducing the deficit on the bottom line, shows the report.
German shipping group NSB has joined forces with Indonesia's Temasline to form a joint venture based in Indonesian capital Jakarta, thus growing its operated fleet to 96 vessels. None of the vessels are currently sailing under German flag.
Investments totaling hundreds of millions of dollars will be needed over years to come in order to ensure the new strategy for Royal Arctic Line and the sailing to and from Greenland, according to an internal brief to employees.
The US Chapter 11 bankruptcy protection legislation contains far too many weaknesses, says shipping investor Kristian Siem. The CEO responsible for the bankruptcy often remains in the post, though according to Siem this person should be dismissed, he says to ShippingWatch.
Former J. Lauritzen CEO Torben Janholt did not expect to once again serve as chief executive of a dry bulk carrier. But an obvious lack of management and insistence from the primary shareholder convinced the now 70-year-old shipping man to return.
Hamburg Süd's current and coming chairman, Ottmar Gast and Arnt Vespermann, have unveiled hitherto unknown details about the billion-euro sale to Maersk Line. A virtual room with access to 20,000 documents has played an important role.
The Danish Maritime Accident Investigation Board's report on the shipwreck of two Maersk vessels made headlines this week, and the spotlight also fell on Klaus Kjærulff's bulk venture, Denmark's plans to expand DIS, and the significantly lower investment level among oil companies.
Søren Toft has already played an important role for Maersk Line's acquisition of Hamburg Süd, which is called the deal that must not fail. Therefore, the 43-year-old COO is working hard to settle the last details. ShippingWatch paints a portrait of Søren Toft
There are positive figures on the bottom line in the first half-year for Norwegian Torvald Klaveness, and now there are hopes of landing "a marginally positive result" in 2017, explains CEO Lasse Kristoffersen to ShippingWatch. Bulk in particular has developed in the right direction.
Torm's former CEO, Klaus Kjærulff, has founded Vincent Shipping together with the former top broker in Norwegian firm Fearnley, Jan Lund, and businessman Jan Bech Andersen. The first vessels have just been delivered.
By October at the latest, the work of organizing the major Norwegian offshore carrier Solstad Farstad after the merger will be finished. The carrier eyes a bright spot in the market and reveals a big venture.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.