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J. Lauritzen chairman: No improvements before 2018

Bulk:

"For now we don't expect significant improvements, and we're navigating on that basis," J. Lauritzen chairman Jesper Lok tells ShippingWatch about the prospects for the dry bulk carrier following the half-year report on Friday.


BY LOUISE VOGDRUP-SCHMIDT, TOMAS KRISTIANSEN & NIKLAS KRIGSLUND
Published 19.08.16 at 15:18

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Most read Bulk

Bondholders could knock down J. Lauritzen's bank deal

Mads Zacho 4.jpg Bulk:

Two thirds of the bondholders need to vote in favor of repayment of their loans being postponed, otherwise J. Lauritzen's entire, new refinancing package, including backing from the banks and owner Lauritzen Fonden, will collapse. ShippingWatch has interviewed CEO Mads Zacho about the prospects.

J. Lauritzen suffers new full-year deficit in 2016

Bulk:

Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.

Analysts: Dry bulk shares will be winners in 2017

Bulk:

After a brutal start to 2016, it now seems that 2017 will be a much better year for dry bulk carriers such as Norden and Golden Ocean, which currently boast positive recommendations from Danske Bank as well as Clarksons Platou.

JP Morgan: Dry bulk market will be even worse in 2016

Bulk:

In a new report, investment bank JP Morgan points to bleak prospects for the dry bulk sector in 2016. Read on to learn what the bulk carriers are up against next year.

MSI: Dry bulk earnings out of carriers' hands in H1

Bulk:

After a somewhat solid beginning of the year, dry bulk carriers now face a more uncertain period in the short term, says Maritime Strategies International. Earnings will largely depend on factors beyond the carriers' control.

Mining giant Vale loses port dispute with Navios

Bulk:

Brazil's Vale must, according to a UK arbitration decision, pay compensation to Navios if the mining company insists on canceling a 20-year contract for a new port under construction.

Current front page

Bondholders could knock down J. Lauritzen's bank deal

Mads Zacho 4.jpg Bulk:

Two thirds of the bondholders need to vote in favor of repayment of their loans being postponed, otherwise J. Lauritzen's entire, new refinancing package, including backing from the banks and owner Lauritzen Fonden, will collapse. ShippingWatch has interviewed CEO Mads Zacho about the prospects.

DNB: Bigger companies and lower prices are the way forward for offshore

Suppliers:

While new niche banks are emerging in the maritime sector, several of the traditional banks active in shipping and offshore are reducing their exposure to the sector. DNB is one of them. The bank believes that bigger companies and lower costs represent the way out of the offshore crisis.

Teekay Tankers saw its profit dwindle in 2016

Tanker:

Teekay Tankers' results for 2016 fall in line with the trend that has so far characterized the tanker carriers' annual reports for last year. The profit tumbled to one third of last year's result.

J. Lauritzen suffers new full-year deficit in 2016

Bulk:

Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.

Transocean benefits from canceled contract for drilling vessel

Offshore:

Transocean received a large one-off income in October when an Indian offshore company canceled a long-term contract for a drilling vessel. The figure offsets a decline in revenue from the drilling activities in the fourth quarter.

This week's top stories on ShippingWatch

Carriers:

Gridlocked negotiations between APM Terminals and dockworkers in Gothenburg, a new full-year deficit for J. Lauritzen, and a change in strategy at Damco are among this week's top stories on ShippingWatch.

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