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.
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.
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.
New offshore contracts
Two Norwegian-based companies landed deals in oil extraction while speculations about price and production continue.
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.
English Edit: Gretchen Deverell Pedersen