Maersk Broker and Lightship Chartering will combine their dry bulk chartering activities in new joint venture LMB Bulk Chartering. The company will consist of 80 employees in 12 offices around the world.
Fraud committed by senior employees at the Singapore based subsidiary Dynamic Oil Trading is threatening OW Bunker with a loss of USD 125 million, according to the OW management. OW is in discussions with banks.
Retrofit is more than just in demand at OMT, and the company expects to increase its revenue in the field. Fuel prices and ECA zones drive the development, CEO Kåre Groes Christiansen tells ShippingWatch.
The status quo in German shipping is experiencing a crisis, says Carsten Wiebers, global head of maritime industries at German KfW IPEX-Bank. The poor climate will continue, and the crisis has thus become the new normal, he tells ShippingWatch.
The Scorpio Bulkers share has dropped by around 80 percent during 2014, the company's first year on the stock exchange. Most recently Deutsche Bank has downgraded its expectations for the US-based dry bulk carrier. "We are guilty of being hopeful," says the bank.
With three new credit facilities for a total USD 187 million the Danish dry bulk and tanker carrier has now secured partial financing for a massive newbuilding program worth a total of USD 1 billion. The first ships from a series of 37 will soon be delivered.
Following the EU's adoption of regulations stating that only approved shipbreaking yards and facilities will be featured on a new positive-list for carriers, the world's two biggest shipbreaking yards, both Chinese, applied for EU approval yesterday, Wednesday.
2015 will be the third consecutive year with growth in the global container traffic, says British Clarksons, upgrading its already positive expectations for the industry next year. "Strong trade growth lifts expectations for 2014 and 2015."
The collapse of the oil price makes Scorpio Tankers President Robert Bugbee draw comparisons to the 1980s. "This will not just improve the rate environment for product tankers, it will significantly extend a potential upside."