A rising number of carriers are now turning to Japanese leasing companies to finance new vessels, writes Lloyd's List. The leasing companies can offer 100-percent financing with lower interest rates than banks.
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.
One of the world's largest dry bulk companies, Noble Chartering, is now moving its activities from Hong Kong to Singapore where the group is headquartered. The move is part of a major restructuring which has reduced the number of employees by over 70 percent in the past two years.
A random encounter at a copper anniversary party many years ago marked a turning point in Keld R. Demant's career. He currently serves as CEO of Bunker Holding. It is crucial to find a good boss in order to make a career for yourself, he says.
CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.
Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.
Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.
The year-long conflict in the port of Gothenburg involving APM Terminals has proved expensive for Swedish industry. Swedish chamber of commerce projects that the conflict could trigger bankruptcies, according to newspaper Dagens Nyheter.
Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.