On several occasions, Lauritzen Fonden has used a subsidiary to provide financial aid to its dry bulk carrier J. Lauritzen during 2016. ShippingWatch outlines the shipping activities in the fund's investment company LF Investment.
Two of Norway's biggest figures in shipping, Kjell Inge Røkke and John Fredriksen, are behind Norway's new offshore carrier Solstad Farstad which will become the country's largest carrier. "It's a tough market out there," CEO Lars Peder Solstad tells ShippingWatch.
What was supposed to be OPEC's manifestation of agreement and strength to push the oil price back up, has now crumpled with a whimper and a price that, after sliding for almost 30 consecutive days, is now headed for USD 40 again. Banks are lowering their estimates considerably.
The EU list of yards which are allowed to dismantle European vessels has led to greater interest in Spanish shipbreaker DDR Vessels, says CEO. However, there are still many carriers trying to circumvent the rules.
The ten most valuable oil and oil service companies listed in Oslo have had a negative return of NOK 67 billion since the beginning of the year. Statoil accounts for the by far biggest share of the price fall, which is attributed to the unexpected low oil price, writes E24.
John Fredriksen's crude oil tanker carrier Frontline has given up its efforts to buy its way to a position as the world's biggest player in its segment. For now at least. The carrier bets on the benefits from its own fleet renewal, CEO Robert Hvide Macleod tells ShippingWatch.
Starting next month, Maersk Line's customers will be able to monitor where the carrier's reefer containers are located as well as the internal temperatures. This comes in response to requests from customers, says CCO.
The container carriers' higher freight rates do not constitute an actual problem for Danish freight forwarder Scan Global Logistics. But the CEO tells ShippingWatch that he hopes prices will soon stabilize.