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Published 10.03.17 at 10:49

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Witnesses missing in criminal case against Danish bunker company

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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.

APM Terminals lays off 160 employees in Gothenburg


The conflict in the Port of Gothenburg between APM Terminals and dockworkers has now prompted the terminal operator eliminate 160 jobs in the container port, reports Swedish news Göteborgs-Posten.

ShippingWatch conference in Singapore, November 25


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.

Maersk Supply Service hits Mexico for the first time


Maersk Supply Service has entered the Mexican market after securing a contract with a subsidiary of Blue Marine Group for one of the company's four Stingray Subsea support vessels.

Drewry: Container rates have bottomed out


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.

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Scorpio Bulkers cut its deficit in half in Q2

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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.

Torm buys four MR vessels from Chinese yard


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.

Oil rises as Saudi Arabia pledges deep cut to August exports


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.

Rolls-Royce's Bergen Engines in huge deficit


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 container carriers point to lack of career opportunities


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.

Songa Offshore wins round one in dispute with DSME


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.