Police in South Korea have raided Polaris Shipping's offices in Seoul and Busan. Investigators are hoping to find new information concerning the cause of the tragic accident in April in which the carrier's vessel, Stellar Daisy, sank in the South Atlantic.
The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.
The dry bulk carriers, sore after several tough years, are becoming increasingly optimistic about the future. But Herman Billung, who recently established dry bulk investor Songa Bulk, praises the slowdown in the sector. "Another six months and we'll be home free," he says.
While many dry bulk carriers are struggling severely with their finances, the Lübeck-based family-owned carrier Oldendorff continues its massive fleet expansion. Market observers are puzzled by the development. Read on to learn how many ships the fleet now covers.
A hacker attack has triggered a large-scale crash of Maersk Group's IT systems, the company tells ShippingWatch. It remains unknown how the group's customers will be impacted. APM Terminals has also been struck in ports in the US and Netherlands.
Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.