ShippingWatch

This week's top stories on ShippingWatch

Maersk Line acquired Hamburg Süd, the OPEC members agreed on a production cap, and a deal between Hyundai and the 2M alliance inched closer this week in the shipping industry. Make sure to read up on the continued trouble in Norwegian offshore as well.

Maersk Line buys Hamburg Süd

After a long period of intense speculation, Maersk Line confirmed its acquisition of German container carrier Hamburg Süd this Thursday. Read here what it will mean for Maersk, which must now incorporate the world's seventh-largest container carrier.

Maersk Line buys Hamburg Süd

Skou: Consolidation will continue after Hamburg Süd acquisition

Analyst: Maersk's acquisition came in the final hour

Danske Bank: New Maersk acquisition could strain credit rating

Photo: Ronald Zak/AP/Polfoto.

OPEC reached unexpected deal

Contrary to what many had expected, the petroleum exporting countries in OPEC managed to agree on a production cap in order to reduce the oversupply of oil. So far, analysts remain doubtful about the effects of the deal.

Media: OPEC to cut 1.2 million barrels per day

Tanker carriers have burned through millions this year

OPEC divisions send the oil price down

Deutsche Bank: Tanker carriers weakened by OPEC deal

Foto: Hyundai Merchant Marine.

Hyundai Merchant moves closer to deal with 2M

A deal between Hyundai Merchant Marine and the alliance partners in 2M – Maersk Line and MSC – is now looking closer.

2M to land deal with South Korea's HMM within days

Media: 2M puts severe pressure on Hyundai Merchant

Norwegian offshore still struggling with oil price

The consequences of two years with a very low oil price continue to wreak havoc. However, some companies got a break and landed deals with creditors. This is the case for Havila, Olympic Shipping, and Songa Offshore.

Yet another Norwegian offshore carrier in acute trouble

Farstad emerges from crisis quarter with deficit

Songa Offshore pushes back loan by one year

Olympic Shipping gets new life extension

Havila Shipping's bondholders approve rescue plan

And make sure to the rest of this week's news on ShippingWatch:

Offshore and shipping dragged down Stena in Q3

Sale of second-hand bulk vessels at seven-year high

Dockworkers announce major demonstration against Unifeeder

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Lauritzen CEO: On the right track, but it will take time

Dry bulk carrier J. Lauritzen finished the third quarter with an operating deficit of USD 9.8 million. Positive with a better dry bulk market, but the carrier is still some way off from turning a profit, CEO Mads Zacho tells ShippingWatch.

Monjasa's fate in fraud case will be decided Monday

On Monday, Denmark's Western High Court will issue its verdict in the protracted fraud case against Danish bunker company Monjasa and founder Jan Jacobsen. The appeal case brought new witnesses and evidence from the defense which maintains the innocence of its clients.

Hafnia Tankers books another deficit in tough market

Denmark based product tanker carrier Hafnia Tankers booked red figures on the bottom line in the third quarter, much like many of its competitors. The carrier has now lost USD five million in the first nine months of 2017, but believes that better times lie ahead.

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