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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.


BY OLE ANDERSEN
Published 23.12.16 at 11:54

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Most read Bulk

Dry bulk shipowner: Ship values have risen too much

Erno-kolen-en-erts.jpg Bulk:

CEO of Norway's Berge Bulk does not think that the medium/long-term prospects in the dry bulk market are particularly positive, despite high levels right now.

Police raid Stellar Daisy carrier in wreck investigation

Bulk:

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.

Gearbulk and Grieg Star create new dry bulk behemoth

Bulk:

Swiss-based Gearbulk, controlled by the Jebsen family, and Norway's Grieg Star, headed by sisters Camilla and Elisabeth Grieg, have a new partnership to create a dry bulk carrier with a fleet of more than 130 vessels and headquartered in Bergen. (Being updated)

Oldendorff has no ceiling, dress code or executive offices

Bulk:

All executives have day-to-day jobs – and no one has his or her own office. At one of the world’s largest dry bulk operators, Oldendorff Carriers, things are markedly different than the shipping industry is used to.

Western Bulk-owner Kistefos pays dividends despite huge deficit

Bulk:

Kistefos, owned by Norwegian billionaire Christen Sveaas, has paid dividends of NOK 200 million despite a deficit of almost NOK 800 million last year, reports Dagens Næringsliv.

J. Lauritzen loses yet another dry cargo executive

Bulk:

Vice president of Lauritzen Bulkers, Martin Sato, has resigned from the dry bulk carrier. The news comes just a few days after the carrier's head of dry cargo stepped down. Sato will instead join dry bulk carrier Baltnav.

Current front page

Bugbee: Maersk family will drive tanker consolidation

IMG_3322.JPG Tanker:

Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.

Transocean books million-dollar impairment on six rigs

Offshore:

Transocean will now retire several rigs which had already been cold stacked, says the world's largest rig company in a press release.

Maersk Line harbors great ambitions for Hamburg Süd

Container:

Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.

Lukoil looking to get rid of trading unit amid legal battle

Services:

Oil company Lukoil is prepared to sell its trading unit Litasco, CEO tells local media. Litasco was this week hit by compensation claims for USD 2 billion filed by a Turkish company.

Norway's central bank projects surge in oil investments

Services:

In a new report, the Norwegian central bank bolsters its faith in coming investments by the oil sector. More newbuild projects in particular spur the bank to raise its forecast.

This week's top stories: Maersk Tankers, ballast water, Royal Arctic Line

Carriers:

The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.

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