Mads Peter Zacho is CEO of the dry bulk carrier J. Lauritzen. Photo: J. Lauritzen

J. Lauritzen ends dispute with bondholders

J. Lauritzen could not convince bondholders to defer loans of NOK 500 million by four years. The conflict threatened to impede the carrier's deal with banks and for this reason the owner, Lauritzen Fonden, decided to step up with financial support to repay the loan when due in October.

J. Lauritzen is repaying its bondholders  

J. Lauritzen owner secures CEO's refinancing plan  

 


Hamburg Süd is particularly strong in Latin America. Photo: Bodo Marsk/AP/Polfoto/Arkiv

EU grants conditional approval to Hamburg Süd takeover

This Monday afternoon, the EU Commission approved Maersk Line's acquisition of the German container carrier Hamburg Süd. However, not unconditional approval. Hamburg Süd must withdraw from a number of consortia on the key market in Latin America.

EU approves Maersk Line's purchase of Hamburg Süd  

Hamburg Süd to withdraw eight vessels after EU demands  

DVB doubts container carriers' optimism  

 


Rickmers Maritime Trust is the company which owns and leases container ships. Now it's closing. Photo: Rickmers Maritime Trust.

Rickmers Maritime closes down

After protracted problems, Rickmers Maritime Trust has decided that the company cannot be saved. The Singapore-based shipowner cannot service its debt and has thus opted to close down. Management is negotiating a sale of the fleet boasting 14 container ships.

Rickmers Maritime Trust to be wound up  

Rickmers Maritime delivers a USD 180 million loss  

New offshore contracts

Two Norwegian-based companies landed deals in oil extraction while speculations about price and production continue.

Fredriksen's rig company lands lucrative contracts  

BW Offshore finalizes acquisition of African oil field
 

News emerged from Danish shipping this week with dry bulk carrier XO Shipping booking its first ever deficit while Nordic Tankers managed to turn a profit.

Nordic Tankers books profit after years in the red  

Ultragas has faith in US shale gas  

Kuehne + Nagel and Alibaba join forces in seafreight

XO Shipping delivers first deficit ever  

 

English Edit: Gretchen Deverell Pedersen