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.
APM Terminals' Managing Director in the Port of Gothenburg, Henrik Kristensen, takes stock after months of conflict: 35 percent of containers are gone, a negative result for the full-year 2017 after a triple-digit loss, and major customers have left. "Now we need to fight our way back," he tells ShippingWatch.
When the new executive team is settled at APM Terminals, CEO Morten Engelstoft will set aside three days to develop a new strategy for the port company. Significantly fewer people than before will perform the task after a large reduction last year.
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 sulfur regulations lead to growing demand for marine gas oil, which is why the world's biggest bunker hub, Singapore, is working to introduce mass flow meters on the port's gas barges, Dr. Parry Oei, Director (Port Services), Maritime and Port Authority, tells ShippingWatch.
Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.
Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.
The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.