The criminal case against a Danish bunker company is nearing its end. Not a single witness has backed the financial police's charges of systematic fraud perpetrated against a customer through a tax shelter company.
Several exclusive key note speakers are already on the list and more will be added. Sign up here for the new maritime conference organized by CBS Executive MBA in Shipping & Logistics (Blue MBA) and ShippingWatch. It is November 25 in Singapore.
The extremely dire container market has now bottomed out, notes Drewry, pointing to increasing rates going forward. However container carriers have aimed too low in their contract negotiations and still face significant losses in 2016.
The New York-listed dry bulk carrier booked a net deficit of USD 13.4 million in the second quarter, almost a 50 percent reduction compared to last year. Rates stabilized in the quarter due to increased Chinese iron ore and coal output, notes the carrier.
Product tanker carrier Torm has purchased four MR vessels from Guangzhou Shipyard International. The order comes with options for up to four additional vessels, CFO Christian Søgaard tells ShippingWatch.
Saudi Arabia said Monday that it will make deep cuts to its crude oil exports in August and encourage improved compliance with supply reductions from other petroleum exporters. The news made the oil price rise.
Norwegian Bergen Engines, Rolls-Royce's engine factory, has in three years lost three quarters of a billion NOK, report Norwegian media. Last year alone saw a triple-digit million deficit on the bottom line.
Employees at the major container carriers point first and foremost to a shortage of career opportunities, and they are not necessarily pleased with senior management, according to new data from recruitment firm Glassdoor. The data bring good as well as bad news for Maersk Line and MSC.
An arbitration tribunal has ruled in favor of Songa Offshore in the protracted dispute between the drilling company and South Korean shipbuilder DSME. But the yard can still appeal the decision, writes Songa.