This week's top stories on ShippingWatch

A new tragic shipwreck, a costly bribery case at Danish Hempel, and Fredriksen's ongoing battle to save Seadrill. These were some of this week's top stories on ShippingWatch.

A new tragic shipwreck has hit the shipping world. 22 crew members are presumed dead after dry bulk vessel Stella Daisy wrecked in the South Atlantic about 2,500 nautical miles off of Uruguay one week ago. Two crew members were found alive and now speculations are floating as to the reason for the wreck.

Demand for speedy investigation of shipwreck

Insurance firm warns of dangerous loads after shipwreck

22 seafarers missing after dramatic shipwreck

Costly bribery case at Hempel

Hempel, which manufactures products including vessel coating, is putting DKK 300 million (USD 40 million) aside as a result of the bribery case which the company itself announced last year.

Hempel sets aside USD 40 million in bribery case

Fighting for Seadrill

John Fredriksen's crisis-stricken rig company Seadrill has been granted a three-month postponement from its banks for debt totaling USD 2.4 billion. The company thus bought itself time to land a restructuring.

Fredriksen working around the clock to save Seadrill

Seadrill buys time with postponement of major debt

Doubts about dry bulk boom

Dry bulk shipowners should not pin their hopes on the Chinese economy and a continuation of its current boom. Stimuli from fiscal policy have driven the increased demand and now it seems that the government will try to slow down the housing market, two analysts tell ShippingWatch.

Analysts: China not likely to be lifeline for dry bulk

"It was definitely better than we had feared"

Golden Ocean open to further fleet expansion

Pacific Basin increases earnings on vessels in Q1

Tough competition for bunker market

The competition has intensified for supplying bunker off of northern Danish city Skagen. Monjasa now longer has a permanent bunker vessel affiliated the company's oil terminal at the Port of Skagen. Monjasa exec and the port CEO both expect the ship to return, however.

Monjasa faces tough competition north of Denmark

Make sure to keep up with other shipping stories as well:

Dong appoints new UK managing director

Eimskip fined by Iceland's Financial Supervisory Authority

Atlantic Petroleum will reshuffle entire board

Frontpage right now

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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