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Nordea impairs value of its oil loans

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Major Scandinavian bank Nordea has downgraded its shipping and oil loans by EUR 200 million in the third quarter. According to a press release following the third quarter results, the offshore market in particular is weighing the industry down.


BY NIKLAS KRIGSLUND
Published 26.10.16 at 13:29

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Lloyd Fonds: Endgame underway for shipping in Hamburg

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There are no real values of note in the German shipping sector right now, according to Lloyd Fonds. The company is scaling down its investments in the segment and would prefer to be on the sideline of what CEO Torsten Teichert describes as the endgame in Hamburg.

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According to credit agency Infospectrum, Monjasa faces a huge deficit in 2016, which was also the year that the company was convicted of serious fraud. However, business seems to be back on track. Monjasa confirms the result to ShippingWatch.

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German asset manager MPC Capital has now tapped into USD 100 million the company raised back in April. MPC has purchased seven container ships, while another six are headed for delivery. Hamburg Süd's CEO will join the board of directors at MPC Container Ship.

Danish businessman at the center of controversial oil trade in West Africa

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What at first looked like an ordinary oil trade in West Africa has developed into a court dispute in London, Dubai, and Lagos. ShippingWatch has reconstructed the events which involve Danish businessman Jesper Øhlenschlæger, tax shelter company Nordic Oil & Gas, bunker company Endofa, and tanker carrier d'Amico International Shipping.

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Lloyd Fonds: Endgame underway for shipping in Hamburg

Torsten Teichert.jpg Services:

There are no real values of note in the German shipping sector right now, according to Lloyd Fonds. The company is scaling down its investments in the segment and would prefer to be on the sideline of what CEO Torsten Teichert describes as the endgame in Hamburg.

CMA CGM achieved a profit in strong Q1

Container:

Container carrier CMA CGM increased its net earnings in the first quarter 2017, which marked a big improvement compared to the same period last year. The acquisition of APL contributes positively to the business for the first time.

Monjasa confirms deficit of USD 26 million

Offshore:

Danish bunker group Monjasa presented financial figures Tuesday showing a USD 26 million loss. "It's hard to protect yourself from a global shipping crisis," says CEO Anders Østergaard. First quarter 2017 saw a profit, informs the company.

Competitors overtake Maersk Line in 2017

Carriers:

2017 showed the first signs of improvement in the struggling container market, according to a comparison of first quarter results from the major carriers carried out by SeaIntel. It also shows that Maersk Line has fallen behind several of its competitors on the earnings front.

The Gothenburg port conflict enters a new stage of deadlock

Ports:

The Port of Gothenburg has now been hit by APM Terminals' lock-out in the intense conflict with port workers. For this reason, the port company has been forced to limit service throughout the rest of May and the month of June. Customers are leaving the port due to the conflict.

MPC Capital is now buying container ships

Services:

German asset manager MPC Capital has now tapped into USD 100 million the company raised back in April. MPC has purchased seven container ships, while another six are headed for delivery. Hamburg Süd's CEO will join the board of directors at MPC Container Ship.

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