PR photo: Dynamic Oil Trading/PR

Indictment against Lars Møller was made public

Lars Møller, the former and now indicted CEO of OW Bunker's Singapore subsidiary, stood to benefit from inflating trade in Dynamic Oil Trading (DOT), claims the Danish Attorney General's office in the indictment, which mas was public after Møller two weeks ago was charged in the collapse of OW Bunker in November 2014.

PR photo: Pacific Basin

Several interim reports indicate improving markets

The week also saw the publication of several interim reports, and the results from dry bulk carriers in particular seem to indicate a better market, which was otherwise hovering at record-lows last year. Oil companies also delivered major improvements.

Pacific Basin: Worst of dry bulk slump is over  

Navios Maritime had profitable Q2  

Diana Shipping lost USD 23.8 million in Q2  

Statoil exceeds expectations and triples operating result  

Strengthened Total says it is ready for acquisitions  

Shell's profit skyrockets in Q2  

Samsung Heavy returns to profits in Q2  

Daewoo leaves deficits behind in first half of 2017  

Finnlines beats its own record in first half of 2017  

PR photo: Seadrill

... but there is still a long way to in some sectors

Despite stronger demand, Norwegian analyst firm Rystad Energy projects a need for a significant reduction i the number of jack-up rigs before the market can recover from a multiple-year slump.

Rystad Energy: At least 110 rigs must go to curb downturn  

Seadrill prepares investors for considerable losses  

Rolls-Royce's Bergen Engines in huge deficit  

Christoffer Berg Lassen, CEO, Dan-Bunkering. PR photo: Dan-Bunkering

And Dan-Bunkering has welcomed an ambitious new CEO

New Dan-Bunkering CEO: We need to grow at least 10 pct  

 

 

PR photo: SAL Heavy Lift

More of this week's top stories:

German family acquires SAL from Japan's K-Line  

Torm buys four MR vessels from Chinese yard  

Equity fund Brookfield takes control of Teekay Offshore  

Songa Offshore wins round one in dispute with DSME  

Maersk Drilling gets warning after Norwegian inspection  

Number of mega-vessels on Asia-Europe set to explode  

EU Commission cancels tax discount for French and Belgian ports