DFDS delivers Q2 pre-tax profit of DKK 495 million

DFDS PEARL SEAWAYS-version1 Carriers:

DFDS increased its operating profit by 12 percent in the second quarter to DKK 495 million, according to the interim report. "We are pleased with our steady progress and remain on track to improve on the record result of last year," says CEO Smedegaard.

Maersk Line missed out on growth in the container market

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CEO Søren Skou was unable to deliver what analysts, competitors, and undoubtedly shareholders had expected. The carrier has lost market shares at what looks like the worst possible time, observers note. Fully in line with expectations, says Skou.

EU postpones controversial scrapping license

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The EU Commission will wait and see how things develop before looking into the possibilities of implementing a so-called scrapping license to make it less attractive for shipowners to change flags on end-of-life vessels. NGO laments the decision, while association Danish Shipping is pleased.

Western Bulk sees market recovering

Western Texas Western Bulk Jens Ismar Bulk:

Dry bulk carrier Western Bulk booked a stronger result in the first half of the year and has an overall more positive outlook on the bulk market going forward, as the Norwegian carrier sees the market recovering.

Last week's top stories on ShippingWatch

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Equity funds make their foray into the North Sea, Maersk's lobbyists are at work in the US, several dry bulk carriers make gains, and a new investment fund from Maersk and a series of pension funds were among this week's top stories on ShippingWatch.

Moody's has renewed faith in the shipping industry

OW Bunker skibe havn Carriers:

One of the world's leading rating agencies, Moody's, once again believes in the shipping sector which no longer has negative prospects. There are positive expectations to the container and dry bulk segments, shows a report from the firm. It is a whole other story for tanker carriers.

Maersk and the US shipping lobby under pressure

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The food industry, shipping, and the NGOs - in popular terms, the Iron Triangle - have for decades enjoyed a special status when sending aid from the US, which benefits carriers such as Maersk. But the Triangle is facing tough political pressure. ShippingWatch has looked into a troublesome alliance.

Lower rates drag down DHT's results in Q2

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Norwegian tanker carrier DHT took hits on the top and bottom lines in the second quarter this year due to lower rates during a period in which the carrier's fleet grew significantly following the acquisition of BW Group's fleet of VLCC supertankers.

Media: Equity fund preparing to sell Scandlines

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After 10 years as owner of Scandlines, equity fund 3i is now preparing to sell its shares in the ferry operator, reports Danish media InsideBusiness. The question is whether the fund can get the price that it wants. Apparently, DFDS is not interested in taking over Scandlines.

Communication helps shape the new Hapag-Lloyd

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Communication plays a key role in the transformation of 170-year-old Hapag-Lloyd, explains communications director Nils Haupt. From external branding, communication with politicians and consumers to the internal shaping of a company. This is the latest article in ShippingWatch's series about communication in the maritime industry.

Trump's toughest critic challenges the Jones Act

johnmccain.jpg Carriers:

The fight against the almost 100-year-old Jones Act, a thorn in the eye of European carriers in particular, has rekindled after Republican Senator John McCain, one of Trump's most ardent critics, is now trying to break from the controversial legislation. ShippingWatch takes a look at a sensitive subject.

Dry bulk carrier dodges Noble Group downturn

Michael Nagler1.jpg Bulk:

Noble Chartering, Noble Group's dry bulk carrier currently scrambling to survive, will be part of continuing operations, says the carrier's CEO to ShippingWatch at a time when the Singapore-based commodity trader finds itself amidst a large-scale divestment process.

Media: CMA CGM gearing up to order new mega-vessels


Rumors of a tonnage expansion have surrounded France's CMA CGM for some time, and now several media report that the carrier will soon place an order for a series of container ships with capacities upwards of 22,000 teu, which would be the world's biggest container vessels so far. The carrier remains silent.

Hanjin still haunts Greek shipowner Danaos

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Greek Danaos is still struggling with fallout from the collapse of Hanjin, to which the container shipowner had chartered several vessels. Meanwhile, the market will remain under pressure from the many mega-vessels, says CEO John Coustas, who does not expect recovery anytime soon.

Dry bulk has long way to go despite stronger rates

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Dry bulk rates were stronger in the most recent quarter, as evident from the first interim reports, but the level is far from enough to ensure positive bottom lines at the carriers, Fearnley Securities tells ShippingWatch. The sector must thus keep looking for a stable recovery.

Seaspan looking for CEO Gerry Wang's successor

hanjin1.jpg Carriers:

Seaspan CEO Gerry Wang is stepping down in December at the latest, informs the company in connection with publication of its second quarter interim report. Seaspan, which has a fleet of 114 container vessels, booked earnings of USD 35.5 million, a decline compared with last year.

Last week's top stories on ShippingWatch

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This summer week brought several key stories. ShippingWatch reported on the Danish Attorney General's indictment against Lars Møller of OW Bunker. The first half year results of bulk and container bode well for the two sectors. And the new Dan-Bunkering CEO unveiled his ambitious growth target.