ShippingWatch

This week's top stories on ShippingWatch

DFDS delivered another strong quarterly result during the past week of financial reports from several carriers, Maersk got burned by its own restructuring, and both bulk and tanker saw more setbacks. These were just some of the top stories this week on ShippingWatch.

With growth in revenue of seven percent, an increase in freight rates of 30 percent, and a result before taxes that shot up by 23 percent to USD 105.9 million, DFDS – headed by CEO Niels Smedegaard – was able to deliver yet another strong result on Tuesday. And this was followed by yet another full-year upgrade from the RoRo and passenger carrier.

DFDS raises full-year guidance – again

Tanker and dry bulk in the red

On the other side of the fence, a weakening of the global tanker market has taken its toll on leading carriers in product tanker, as losses in the dry bulk sector also continue to roll in.

J. Lauritzen lowers full-year guidance for 2016

Hafnia Tankers books deficit in Q3

Torm downgrades full-year forecast for 2016

Scorpio Tankers dips into the red in Q3

Product tanker carriers face disappointing 2016 exit

Hapag-Lloyd had positive Q3 in tough 2016

Maersk's credit rating down

Paradoxically, Maersk's own restructuring to help the company through hard times has likely had a negative impact on the transport and energy conglomerate after Standard & Poor's reduced its credit rating of the company, according to several sources. Standard & Poor's is already considering knocking down the rating another notch.

Maersk bonds close to falling in with bad crowd

Maersk is burned by its own restructuring plan

S&P lowers credit rating of Maersk Group

MSC and Maersk own most of the unpopular Panamaxes

SeaIntel: Moderate container recovery still three years away

 

Make sure to read these other key stories from this week on ShippingWatch:

Such as the latest developments surrounding collapsed container carrier Hanjin:

Hanjin gets winning bid from shipper that once almost failed

Korea Line picked as preferred bidder for key Hanjin service

And the latest news from the world of offshore:

Deep Sea Supply books million dollars loss in Q3

DNB scaling down exposure to shipping and offshore

Rem Offshore fined for violation of stock exchange rules

Frontpage right now

Clipper sailing at rates that incite fresh optimism

"For the first time in a long time, rates are at a level, which might tempt some to order new vessels, but it will not be us," CEO of Clipper Group, Peter Norborg, tells ShippingWatch. One commodity in particular is critical for the company's progress.

Norwegian shipping investor debuts in dry bulk

Founder of rig company Borr Drilling, Tor Olav Trøim, is now targeting dry bulk with the company 2020 Bulkers. The plan is to list the company on the minor OTC stock exchange, reports local media Finansavisen.

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