This week's top stories on ShippingWatch

Maersk sold its once crown jewel Maersk Oil sparking rumors about divestment of its remaining energy division. The report from Hafnia Tankers, crisis-struck Seadrill, and a new development in the OW Bunker case were all part of the week.

Maersk Oil sold

When the oil price peaked, Maersk Oil was considered the Maersk Group's crown jewel and kept it afloat when Maersk Line could not. Those days are now over. In the future, Maersk Oil will be under French management after it was sold to Total.

Maersk Oil sold to France's Total

Skou after divestment: Important to maintain focus on the North Sea

Image: Maersk

Total eyes huge annual synergies with Maersk Oil takeover

Total CEO: We will build further on Maersk's strengths

Hemmingsen: Divestment is a relatively quick transaction

Professor: Tax pressure pushed Total out of Norway

Bright spots in bulk

Image: Golden Ocean

Bulk saw huge rate fluctuations, where Capesize was a bright spot. Golden Ocean was one of the players to attest to this in its quarterly report:

Golden Ocean reduced its deficit in Q2

Herman Billung wants to buy new ships for USD 50 million

Tough times for many

When the figures emerge, many markets don't seem to be spelling out good news. The majority of them are challenged by the oil price and other conditions:

Hafnia Tankers books deficit for Q2

Maersk Tankers far behind competitors

Seadrill expects major setback in third quarter

Image: OW Bunker

See also:

OW trustees to increase claims against former management

Record-low Danish employment on DIS vessels

Prosafe postpones old Lauritzen rigs

Aker Solutions fires 140 employees

Frontpage right now

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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