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