The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.
They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.
John Fredriksen's dry bulk carrier follows in the footsteps of its peers and reports improvements across the board. With a bigger fleet, the carrier is well situated to benefit from a stronger dry bulk market, says CEO.
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.
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.
Havila Shipping suffered a triple-digit million loss NOK in the second quarter, a period which also brought a reduced operating profit. The offshore carrier settled a new debt agreement earlier this year which also strengthened its equity.
The second quarter in 2017 brought another deficit for Concordia Maritime, which is struggling in a weak market for product tanker, just like its competitors. CEO Kim Ullman believes in a gradual recovery from 2018.
Navig8 Chemical Tankers suffered a deficit of USD 3.6 million, according to the interim report for the second quarter. The market for chemical products has stabilized, albeit at lower levels, says CEO.
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.
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.
Revenue in container ports was so promising in the first half of the year that Drewry believes growth in the full-year 2017 could reach the highest level since 2011. Global growth is driving the market, notes the firm.
The difference in flow between head haul and back haul routes has increased significantly in the first half of the year, and carriers now face the biggest imbalance since 2014, writes SeaIntel in a new analysis.
The Maersk Group is about to release a strong interim report, in which Maersk Line's profits in particular will boost the overall results, note several analysts who add that this looks like CEO Søren Skou's last chance to prove that his plan is working.
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.
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.
There have been expectations that the upcoming 2020 sulfur cap would boost the transition toward scrubbers and the use of, for instance, LNG as fuel. But these projections are cast aside in new report from Columbia University.
Maersk spends millions of dollars every year in its efforts to shape the political process at the forge of power in the US. ShippingWatch has looked into which political cases the Danish company's lobbyists are working on, and why.
Next week will bring Q2 interim reports from the heavy hitters in Danish shipping for a first half-year which saw positive developments in container and bulk, while the tanker market is challenged by weak rates and too many vessels. The Maersk report is widely seen as a test of Søren Skou after one year as Group CEO.
Key players in the large market for export of frozen fish from northern Norway disrupted Icelandic Eimskip's acquisition of Nor Lines. It would have weakened competition significantly, according to Samskip and other players in the market.
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.
With former APM Terminals Chief Exec Kim Fejfer as head of the A.P. Moller Holding's first major investment project, the Maersk family can draw on an old friend who has already proven his worth and knows the rules of diplomacy, though he has also had some misses.
Norwegian-Swedish Wallenius Wilhelmsen Logistics suffered a setback on the bottom line in this year's second quarter, but emphasizes that this was due to one-off costs related to the merger. Half of the expected savings of USD 100 million have been achieved at this stage, says management.
Several vessels loaded with LPG cargoes are idle off the coast of Singapore, waiting for better prices on the liquefied petroleum gas. However, the situation is not as severe as last year, writes Reuters.
The 14 carriers in a new South Korean collaboration, constituting the South Korean government's attempt to strengthen several of the country's ailing carriers, seems to have received a tepid response from participants, according to Alphaliner.
APM Holding joins forces with Danish pension funds PKA, Pension Danmark, and Lægernes Pension to establish a fund for investing in Africa totaling USD 550 million under the name Afrika Infrastruktur Fond. Well-known Maersk executives will head the project.
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.
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.
Two managers from J. Lauritzen's office in Singapore have switched to competitor Baltnav, which is set to open an office there in early September this year. This marks the latest in a series of changes in J. Lauritzen's organisation.
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.
The creation of Stena Weco was a milestone in Erik Hånell's career as CEO at one of the world's largest tanker carriers Stena Bulk. He talks about this and much more in ShippingWatch's series on maritime management.
Following strong criticism in 2014, Maersk Line had its lobbyists stop work against reforms of US food aid in efforts to safeguard its own bottom line. But a review shows that Maersk is still spending money on lobbyism aimed at food aid. Just monitoring political developments, says the company.
Höegh Autoliners, in which Maersk invested ten years ago and now holds a stake of almost 40 percent, landed a horrible result in 2016. Part of the explanation is that wealthy oil nations are importing fewer cars.
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.
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.
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.
The Brazilian foreign trade chamber will terminate an agreement that provides two carriers owned by Hapag-Lloyd and Hamburg Süd with exclusive rights on sea freight between Brazil and Chile, reports Reuters.
Though there are indications of an improved balance between supply and demand, the shipyard industry continues to fight for survival in a market where newbuilding prices could fall further, writes Maritime Strategies International.
South Korea's new president is allegedly prepared to go further than his predecessor in efforts to aid the country's crucial maritime industry. Part of the plan is establishing the Korea Maritime Promotion Agency. The EU has previously criticized the country's involvement in the maritime sector.
SeaIntel's latest calculations show that Maersk Line is far from the days when it could boast towering schedule reliability levels. The carrier is now ranked 9th among the 18 largest container carriers.
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.
In the displaced fiscal year, Dorian LPG finished the first quarter with a bigger deficit as a result of weaker freight rates. The carrier is expressing mixed signals about the market, notes JP Morgan.
Freight rates on the Asia-North Europe services have been moving in the right direction, and in 2017 shipowners are poised to earn over USD 1 billion more than in 2015, shows a new analysis from SeaIntel.
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 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.
Gas carrier BW LPG will increase its presence in India with a new joint venture. The partnership provides growth opportunities and a stronger foundation in one of the world's biggest LPG markets, says CEO.
Japan's three biggest carriers, Mitsui OSK, Kawasaki Kiesen, and Nippon Yusen, have published interim reports for the first quarter. The results fall in line with the trend from the carriers' numbers for the full-year 2016.
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.
Container carrier Orient Overseas Container Lines (OOCL), which is on track to be sold to Cosco, can look back on a second quarter with a significant boost in revenue. Stronger rates indicate an overall positive result for the container sector in the second quarter, says Fearnleys.
The number of students applying for maritime programs at universities in Denmark dropped almost 12 percent in 2017. Applying for the maritime programs should be made more attractive and flexible, says Danish Shipping.
Following a USD 90 million deficit in 2016, the former Viking Supply Ships CEO Christian W. Berg will play a key part in turning developments around at Norwegian GC Rieber Shipping. ShippingWatch has interviewed Chairman Paul-Chr. Rieber about the opportunities facing the carrier.
Maersk Line grew, benefiting from a strengthened container freight market, while major impairments at Maersk Tankers and APM Terminals dragged the group's overall results down. And the hacker attack came at a high price.
The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.
The world's largest container carrier, Maersk Line, achieved a USD 339 million profit in the second quarter. Freight rates are up 22 percent compared to last year, while impairments in other business units dragged down the group's overall result into the red.