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Published 10.03.17 at 10:49

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Schlumberger still feels the effects of the oil crisis

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The oil market crisis has made its mark on the first quarter result from Schlumberger, the world's largest oil service company. The CEO identifies four focus areas which could boost the industry.

DSME has allegedly swindled for USD 1 bln


Daewoo Shipbuilding and Marine Engineering's (DSME) has allegedly swindled for the equivalent of USD 1.26 billion in its accounts, while huge bonuses have also been doled out despite the massive losses accrued by the company, reports Yonhap following a dawn raid at the shipbuilder.

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.

Dramatic dispute among partners at Lightship Chartering


After merger plans with Maersk Broker fell apart a few months ago, ShippingWatch has learned that tensions have emerged between the partners in brokerage firm Lightship Chartering.

BW LPG secures financing for seven newbuildings


BW LPG has secured financing for seven new VLGCs. The lending facility is worth USD 400 million and is deemed favorable by analysts Fearnley.

Bunker Holding now targeting global top spot


American World Fuel Services and Danish Bunker Holding have set themselves apart as the world's two biggest bunker companies. "We are in effect playing a part in the future development of the industry," says Bunker Holding CEO Keld Demant in an interview with ShippingWatch.

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Fredriksen continues his crusade to become top supertanker player

Fredriksen.jpg Tanker:

Shipping magnate John Fredriksen continues the battle to take over DHT as the move could give his tanker carrier Frontline a superior position in the VLCC market. "Size does matter," one analyst tells ShippingWatch. "Very insufficient offer," says DHT.

Maersk Line: 2017 off to a good start


2017 has already been hailed by Maersk Line and several of its biggest competitors as the year in which the miserable results from last year will be replaced by a de-facto turnaround. Things have developed positively so far, Maersk Line's head of Asia and the Pacific tells ShippingWatch.

South Korean yards save their way to profits


Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries have both delivered large profits in the first quarter. According to local media, the improvement is largely attributed to comprehensive streamlining efforts.

Maersk in large digitalization venture with Microsoft


Maersk Group has formed a collaboration with Microsoft with the intention of ensuring that customers, as is the case at Fedex, can easily and precisely track their goods.

Subsea 7 eyes improved supply in offshore market


Market conditions remain challenging, but activity on the supply side is improving, notes Subsea 7 in the carrier's interim report.

Seaspan has faith in improved container market


2017 did not begin as well as last year for Seaspan. However, the shipowner has faith in the future and is ready to benefit from the reconstruction of the container market which is currently underway, says CEO Gerry Wang.