ShippingWatch

Last week's top stories on ShippingWatch

Shipping banks have impaired loans for USD 3.4 billion and DHT stopped an attempt by Fredriksen's Frontline to block the transaction with BW Group. These stories and more were featured this week on ShippingWatch.

NordLB is one of the banks which have been hard hit by the downturn in shipping. Photo: PR/NordLB.

Shipping still hurting banks

German banks, which used to be dominant in shipping, have lost vast amounts on their loans to the struggling sector. According to several observers, the German financial institutions have lost their global lead in shipping.

Shipping banks have impaired loans for USD 3.4 billion

German shipping banks have outplayed their global lead

Bertram Rickmers is ready to give up control to banks

 

John Fredriksen's Frontline lost the battle to acquire DHT.

DHT rejects Frontline once and for all

Tanker carrier DHT Holdings finally warded off Frontline's attempt to take over its competitor. A New York court ruled Thursday that DHT has not broken any rules in the transaction with BW Group. As such, Frontline has lost its last chance to acquire DHT.

Frontline unsuccessfully courted DHT for more than a year

DHT and BW Group defy Fredriksen's block attempt

Fredriksen to block DHT deal with 11 tanker vessels

 

Jesper Lok heads the Danish government's appointed maritime growth team. Photo: Carsten Andreasen/Polfoto/Arkiv.

Maritime growth team in Denmark

A maritime growth team in Denmark has made its recommendations for the sector including an expansion of the DIS tax scheme. This means that carriers in the oil and wind industry in the North Sea can pay out net wages to crews on board the ships.

Denmark launches strategy for maritime growth

 

Make sure also to read about Singapore's rescue package for shipping, an interview with Nordic Tankers, and Rickmers Maritime Trust, which is now selling its entire fleet of 14 container vessels to Greek carrier Navios.

Nordic Tankers CEO: Increased consolidation is the obvious solution

Rickmers Maritime Trust sells entire fleet to Navios

Singapore ready with rescue package for shipping

Frontpage right now

Maersk will now be printing spare parts on board its vessels

Maersk and J. Lauritzen are now looking to really crack the 3D market, and with a new project including several prominent players, carriers are starting to print spare parts on board vessels and rigs. The technology is ready for the maritime sector, the partners say.

Simpson Spence Young acquires Bidsted & Co

Simpson Spence Young has acquired Danish dry bulk broker Bidsted & Co. "The world requires more and more these days, and we had to acknowledge that we were unable to match demand on our own," Bidsted's managing director Carsten Munk Jensen tells ShippingWatch.

Swedish shipowners want 400 ships flagged in Sweden by 2027

The much-anticipated tonnage tax scheme could mean that 400 ships join the Swedish flag over the next decade, shows a study performed by the Swedish Shipowners' Association. "We hope that over the coming years these predictions will turn out to be correct," Vice President Pia Berglund tells ShippingWatch.

This week's top stories on ShippingWatch

Navigare Capital Partners, owned by parts of the Mærsk family, is ready to buy more vessels, Simpson Spence Young acquired Danish broker Bidsted & Co., and Norden CEO Jan Rindbo offered insights into his management strategy this past week on ShippingWatch.

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