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Last week's top stories on ShippingWatch

Maersk plans to sue a Spanish billionaire, Torm CEO Jacob Meldgaard talks to ShippingWatch after the release of the carrier's annual report for 2016, and dry bulk may be closer to recovery. All this and more on ShippingWatch this past week.

Torm released its 2016 annual report and CEO Jacob Meldgaard tells ShippingWatch that the carrier has not shelved the IPO plans even though the carrier suffered a big deficit of USD 142 million for the year after a large fleet impairment. But the tanker rates will need to improve and oil stockpiles go down before a listing becomes relevant, he says.

Tanker rates need to improve before Torm launches IPO

Major impairment hits Torm with USD 142 million loss in 2016

 

APM Terminals has launched a case against Spanish businessman and former owner of Grup Maritim TCB, Ángel Pérez Maura. The company wants compensation after becoming entangled in a corruption case in Guatemala.

APM Terminals sues former owner of TCB

 

Royal Arctic Line released a record financial report for the Greenland-owned carrier. Meanwhile, the carrier's CEO, Verner Hammeken, unveiled the plans for a comprehensive transition of the business.

Royal Arctic Line delivers record result for 2016

Royal Arctic Line vessels to be flagged in Greenland

 

Although the heralded recovery in dry bulk still has not arrived, there are signs that it is indeed approaching.

Dry bulk carriers detect increasing interest in Asia

Noble Chartering secures new revenue from Europe

The dry bulk carriers lost billions again in 2016

Klaveness on bulk in 2017: Slightly better but not good

 

Make sure to keep up with other stories as well:

Former Maersk executive joins V. Group board of directors

Kongsberg: These are the top four trends in digital shipping

The Alliance will safeguard customers against Hanjin situation

HSH Nordbank has scaled down container exposure

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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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