Rooted in a combination of shipping and IT experience from Silicon Valley, the idea of a digital shopping platform for the maritime industry looked like an obvious business idea. Still, it would take 14 years for Paul Østergaard's company ShipServ to turn a profit.
The past fiscal year dealt a blow to Bunker Holding's bottom line but did not damage CEO Keld R. Demant's expansion ambitions. "It's an industry that is ready to be changed and consolidated," he tells ShippingWatch.
The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.
They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.
An Indian newspaper reports that APM Terminals is preparing to sell its large stake in port Gateway Terminals India. If the sale happens, it could indicate that APM Terminals is on track to leave India entirely, writes Alphaliner in an analysis.