ShippingWatch

Last week's top stories on ShippingWatch

Norden off to a weak start in dry bulk in 2017, a record-large deficit for DSV, strong results from oil majors, and increased political focus on shipping by US and EU authorities were among this week's key stories on ShippingWatch.

Dry bulk and tanker carrier Norden – despite a "surprisingly strong" dry bulk market in the first months of 2017 – got off to a weak start in 2017 in this segment as the carrier's tonnage was utilized. CEO Jan Rindbo now expects an adjusted dry bulk result at the lower end of the announced guidance.

Strong bulk market surprised Norden CEO Jan Rindbo

Norden logs USD 1 million profit in Q1

DNB Markets: Norden misses out on bulk vessel price hike

Analysts project crimson numbers from Norden

DSV starts off strong

On the other hand, Danish transport and logistics group DSV kicked off 2017 with a soaring profit.

The net profit in the first three quarters of the year came to DKK 669 million (USD 98.6 million) against DKK 233 in the same quarter 2016, which was impacted by the acquisition of US-based UTi Worldwide.

DSV CFO downplays impact of new container alliances

Media: France makes trouble for DSV

US lawmakers to scrutinize container carrier practices

The US Shipping Act of 1984 – which exempts international container carriers from regular competition regulations – is becoming outdated, note several US legislators who are ready to present a new bill in less than one month. ShippingWatch in New York followed a hearing in the Congress' sub-committee for the coastguard and maritime transport, at which several key individuals were questioned about the current legislation.

The US looking to scale back container carriers' power

US scrutinizes the power of container carriers

EU scrutinizing state subsidy schemes

The EU has spent months scrutinizing the tax rebates introduced by EU member states to help their carriers. The Commission is particularly looking into tonnage tax schemes which were implemented prior to 2004 when the current guidelines for state subsidies to the maritime sector were adopted.

EU could demand changes to European tonnage tax

Record-tough EU demands on Maersk Line's Hamburg Süd acquisition

Strong results from oil companies, but...

A rising oil price and large-scale cost reductions have boosted earnings at oil majors such as Statoil, Aker BP, and Shell in the first quarter. Now several of these are gearing up for new investments, but the good old days are not likely to return, projects Nordea Markets.

Oil companies' cost reductions now starting to show

BP delivers unexpected tripling of its profit

Shell had "strong first quarter"

Statoil delivered a significantly improved result for Q1

Lundin Petroleum had good start to 2017

Maersk executives to enter Hamburg Süd senior management

Two prominent senior executives from Maersk Line will join the management team at German container carrier Hamburg Süd, and the carrier has found a new CEO to replace Ottmar Gast when he steps down.

Maersk executives enter Hamburg Süd management

Record-tough EU demands on Maersk Line's Hamburg Süd acquisition

Maersk Line to take delivery of 27 ships in two years

Maersk Line's schedule reliability plunged big-time in Q1

English Edit: Daniel Logan Berg-Munch

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Lauritzen CEO: On the right track, but it will take time

Dry bulk carrier J. Lauritzen finished the third quarter with an operating deficit of USD 9.8 million. Positive with a better dry bulk market, but the carrier is still some way off from turning a profit, CEO Mads Zacho tells ShippingWatch.

Monjasa's fate in fraud case will be decided Monday

On Monday, Denmark's Western High Court will issue its verdict in the protracted fraud case against Danish bunker company Monjasa and founder Jan Jacobsen. The appeal case brought new witnesses and evidence from the defense which maintains the innocence of its clients.

Hafnia Tankers books another deficit in tough market

Denmark based product tanker carrier Hafnia Tankers booked red figures on the bottom line in the third quarter, much like many of its competitors. The carrier has now lost USD five million in the first nine months of 2017, but believes that better times lie ahead.

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