The ports by the Baltic Sea seem to be catching up after the downturn they experienced when sanctions were introduced against Russia in 2014 in response to the Crimea crisis, according to a new analysis from SeaIntel.
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.
Starting at 4 pm CET on Tuesday and lasting 24 hours, APM Terminal's Gothenburg facilities will be at a standstill. An attempt to trip up Swedish exports, says APM Terminals Gothenburg CEO Henrik Kristensen.
Three offers have been submitted for the Port of Thessaloniki in Greece. DP World is among the bidders for the controlling stake in the port, which will be privatized as part of the Greek debt agreement.
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.