Offshore and marine company Keppel delivers its smallest annual profit in ten years and will thus close three yards in its homeland of Singapore. The workforce has been reduced by about one third and the CEO is ready to do what is necessary.
APM Terminals is inching closer to Maersk Line through exclusive deals in which, for instance, financial risk from the terminal company is transferred to the container carrier. The ties between the two formally independent companies have been subject to controversy before.
The Port of Rotterdam has experienced a notably large increase in the number of containers during the first quarter of 2017. Port authority CEO Allard Castelein believes that the new alliance constellation could lead to a strong year in container for the port.
Korea's top port, Busan, will take a big hot from the collapse of Hanjin Shipping and the subsequent changes reverberating through the container alliances, where Hyundai Merchant Marine will now collaborate with 2M, reports Korea Herald.
One of Europe's biggest logistics and forwarding companies, Kuehne+Nagel, will take the container carriers' abilities to go digital into account when signing orders in the future, CEO Detlef Trefzger tells ShippingWatch.
Since the turn of the year alone, numerous new financing opportunities have emerged for the shipping companies as alternatives to the traditional shipping banks. ShippingWatch provides an overview below.
Despite its indisputable role as the world's shipping center, financing for maritime companies has been lagging behind in Singapore, and the country will now work to bring carriers and investors closer together. The understanding of shipping as an investment represents one of the challenges.
Pacific Basin has hired a new CFO who is joining the company from tanker carrier BW Pacific. He has a background in the finance sector and will start in his new position in August when the current CFO steps down.