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Last week's top stories on ShippingWatch

Best-ever results from logistics company DSV, estimates about the future oil price, and the long road to recovery for dry bulk carriers were among this week's top stories on ShippingWatch.

DSV presented its best results ever when it published its second quarter interim report. At the same time, the company upgraded its forecast for the full year and launched a share buy-back program worth DKK 1 billion.

"Big changes are taking place right now on the sea freight market, and it's all about staying close to the development," CEO Jens Bjørn Andersen told ShippingWatch in a post-report interview.

Jefferies: DSV distancing itself from the competition

DSV prepares for higher freight rates

DSV upgrades after all-time high results

 

The oil price will rise ahead of 2020

The price for a barrel of North Sea crude will rise ahead of 2020, predicts oil analyst at DNB Markets, Torbjørn Kjus. The analyst has lowered his estimate but is overall more positive than other industry stakeholders.

DNB on oil price: Good times in store for 2020

Norwegian state continues to bag huge gains from oil fields

BP trumps expectations despite huge impairment in Angola

Lundin: Close to 70 percent of Johan Sverdrup will be finished this year

DNB: Sulfur requirements could force oil price further up

Norway anticipates field plans totaling NOK 125 billion

 

Dry bulk still far from positive

Dry bulk rates were stronger in the most recent quarter, as evident from the first interim reports, but the level is far from enough to ensure positive bottom lines at the carriers, Fearnley Securities tells ShippingWatch.

Dry bulk has long way to go despite stronger rates

Miner Rio Tinto confirms increasing growth in China

Intermarine chief exec steps down with immediate effect

Pacific Basin to buy vessels for more than USD 100 million

Dry bulk carrier dodges Noble Group downturn

 

And make sure to read about how Hempel handled a bribery case and about the challenging tanker market this year for product players such as Teekay Tankers and d'Amico International Shipping:

Teekay Tankers suffers big Q2 deficit

Italian tanker carrier books deficit in tough product market

Trump's toughest critic challenges the Jones Act

Maersk Line's acquisition of Hamburg Süd lacks one crucial approval

Hutchison Ports notes slight growth in first half

Pirates kidnap five seafarers in Nigerian waters

 

English Edit: Gretchen Deverell Pedersen

Frontpage right now

Diamond S pulls 18 vessels out of Norden's tanker pool

Diamond S Shipping, controlled by current US Secretary of Commerce Wilbur Ross, is pulling its vessels out of Norden's tanker pool and Scorpio for strategic reasons. "Not a problem for us," says Søren Huscher, CEO of Norient Product Pool.

The extensive Monjasa fraud case to begin Monday

It cost Monjasa founder Jan Jacobsen a prison sentence of 3.5 years and a DKK 10 million fine for the firm when they were convicted of extensive fraud last year in a municipal court in Denmark. Now the appeal case will begin at the Danish national court Vestre Landsret.

Bulk shares have surged in 2017

Investors are now also thought to believe in a stable recovery in bulk, where the largest shares have been through significant price increases throughout 2017. One carrier in particular has experienced a huge price increase.

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