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 Supply Service has presented its report to the French authorities about the two supply vessels which sank off the coast of France on Dec. 22 2016. No oil spills were observed in relation to the wreck, states the report.
Offshore carrier Viking Supply Ships has appointed a new CEO, who brings extensive experience from a long line of Norwegian offshore carriers. The new CEO will head a carrier with a negative bottom line and no ships in its fleet sailing on long-term contracts.
APM Terminals has received the final approvals to operate the newly built terminal in Guatemala, which is at the center of a large-scale corruption scandal. The first ship called on Sunday, and the terminal is expected operational soon. The opening was met with local protests.
Several container carriers have received penalties in China for failing to provide correct information about their freight rates to the Chinese ministry of transports. The carriers fined include CMA CGM and Hamburg Süd. But the size of the fine is fairly modest.
Earnings at the Arabian LNG carrier decreased by a little under QAR 30 million in 2016. Despite the downturn in the oil and gas market and overcapacity in the shipping markets, the carrier is pleased with the result.