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Danish yards: Denmark back as shipbuilding nation

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Orskov Yards' result for the year is just one of several positive stories from the Danish shipyard industry. As opposed to its closest competitors the Danish yards made it through the crisis in solid form. "We're a shipbuilding nation," says Danish Maritime.


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Photo: Stena Bulk
BY TOMAS KRISTIANSEN
Published 09.01.14 at 14:05

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Maersk spending millions to keep struggling Damco afloat

Maersk Reefer Container - 001.jpg Services:

Maersk has been forced to inject USD 451 million into the group's problematic logistics unit Damco. The figure corresponds more or less to Damco's combined losses from the past five years.

Major banks: The low oil price will soon be history

Services:

The oil price has hit rock bottom and the current positive trend will continue in the upcoming year, project Danske Bank as well as Nordea. "This is the beginning of the end of the oil crisis," senior analyst at Nordea, Thina M. Saltvedt, tells ShippingWatch.

Fraud Squad charges former CEO in OW case

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The Danish Fraud Squad has filed criminal charges against former OW Bunker CEO Jim Pedersen and CFO Morten Skou in the case concerning the collapse of the bunker group. "This is completely unfounded," Jim Pedersen tells ShippingWatch.

Lightship Chartering partners split to the wind

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Lightship Chartering's partners split to the wind following a dramatic summer. The brokerage firm's chairman Morten Have tells ShippingWatch that he has received no explanation as to why several partners have turned their backs on the firm.

Baltic yard giant will grow 10 percent annually

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After a record year in 2014, the major Polish yard Remontowa in Gdansk is prepared to continue growing by between five and ten percent a year over the next five years, says the chairman of the yard group's parent company, Piotr Soyka, to ShippingWatch.

Inchcape CEO steps down with immediate effect

Services:

Without providing any specific reason, Claus Hyldager has stepped down as CEO of London-based but Arabian owned Inchcape. Hyldager has served as chief executive for nine years and spearheaded a massive expansion of the company.

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Did shipping crown flow meters too quickly as the solution to bunker fraud?

bunker1.jpg Container:

Maersk Line has been a frontrunner for the use of flow meters in securing fuel volumes for its fleet. One step in the right direction, but not a final solution to bunker fraud. It will take more than that, according to several industry stakeholders in comments to ShippingWatch.

Competition authority will review Norwegian oil sector

Suppliers:

The Norwegian Competition Authority will review competition conditions for suppliers to the Norwegian Shelf and investigate the extent to which oil companies are squeezing suppliers. One oil company in particular will be scrutinized.

Deep Sea takes full control with Brazilian joint venture

Carriers:

Norwegian Deep Sea Supply has reached an agreement with its partner DPC to take over all shares in a Brazilian joint venture between the two companies which boasts 21 supply vessels. A loan deal has also been sealed.

J.P. Morgan: Gas vessel recovery still years away

Tanker:

Although things look good regarding the number of gas facilities around the world, the recovery for LNG shipping is fading, writes J.P. Morgan. This is due to factors including a standstill in demand from Asia.

ExxonMobil buys oil company for USD 2.5 billion

Offshore:

US behemoth ExxonMobil has bought the oil company InterOil, which is headquartered in Papua New Guinea, for a billion dollar amount.

Rio Tinto boosted iron ore production in Q2

Suppliers:

Mining company Rio Tinto boosted the production of iron ore in Australia in the second quarter by eight percent, but according to Financial Times, this was not completely in line with analyst expectations.

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