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.
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.
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.
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.
Frontpage right now
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.