A multiple year boom could be coming to an end for the colorful Norwegian shipping magnate John Fredriksen's crown jewel, Seadrill, as the company has turned out to be USD 14 billion in debt and at which a race against time and unsatisfied bond holders has begun.
Maersk is looking for a Nordic bank and an international bank to handle the oil division's IPO, reports Danish media Berlingske. The conglomerate has allegedly issued invitations to a series of banks, including Danske Bank.
Michel Temer is facing mounting pressure shortly after secret recordings officially drag the president into the Petrobras scandal. He could remain in office despite minimal support from the population,
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.
A hacker attack has triggered a large-scale crash of Maersk Group's IT systems, the company tells ShippingWatch. It remains unknown how the group's customers will be impacted. APM Terminals has also been struck in ports in the US and Netherlands.
Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.