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.
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.
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.
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.
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.
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