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Photo: J. Lauritzen

Bondholders could knock down J. Lauritzen's bank deal

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.


BY TOMAS KRISTIANSEN
Published 24.02.17 at 13:44

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Most read Bulk

"An industry downturn is exactly what we need"

Herman Billung.jpg Bulk:

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.

New dry bulk company works solely for Noble Chartering

Bulk:

Atlantic Chartering Services just opened its doors in Copenhagen. The company's only customer is Noble Chartering, and ACS will handle the dry bulk company's growing business on the Atlantic.

Oldendorff continues aggressive fleet expansion

Bulk:

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.

Former Lightship partner joins Maersk Broker

Bulk:

Frank Mortensen, former CEO and partner at brokers Lightship Chartering, has joined Maersk Broker as part of the company's current dry bulk build-up, most recently in the Middle East and Africa, which from May 1st will be headed by Anders Højmose Pedersen in Dubai.

Noble Group is fighting hard to survive

Bulk:

Major Asian commodity company Noble Group, which counts firms including bulk carrier Noble Chartering, is in the midst of a battle for survival. Recent weeks of bad news feed into fears for the future of the group which is listed in Singapore.

Maersk Broker brings in former partners from Lightship

Bulk:

Not long after acquiring broker company Lanic, Maersk Broker is now expanding its ambitions in dry bulk and has brought in a group of new brokers, ShippingWatch has learned. This also includes two former partners from Lightship Chartering.

Current front page

"An industry downturn is exactly what we need"

Herman Billung.jpg Bulk:

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.

Shippers: Reefer markets will feel the pain from carrier concentration

Container:

Shippers in the Global Shippers' Forum were already sounding the alarm this March about the consequences for importers and exporters of goods such as food. Their concerns surfaced in relation to the merger of Maersk Line and Hamburg Süd and have only grown in the months since.

Maersk Line in major CEO reshuffle in Singapore

Container:

Tim Wickmann steps down as CEO of Maersk Line's Asian subsidiary MCC and leaves the Maersk Group after 27 years. He will be replaced by an experienced Maersk exec who takes over as CEO of the Singapore office in August. Also, a new head of Southeast Asia has been appointed.

Cosco will challenge European dominance on key container routes

Container:

Chinese Cosco Shipping has ordered 14 new container vessels for USD 1.8 billion in order to boost its fleet between Asia and Europe, where carriers such as Maersk Line, MSC and CMA CGM currently dominate.

Ten analysts list the losers among shipping shares

Carriers:

Despite protracted and crushing pressure on the shipping sector, several companies may not have reached the bottom yet. Ten analysts list their pick for the shares they believe will lose additional market value. One company stands out in particular.

South Africa rejects Japanese container merger

Container:

Competition authority in South Africa rejects the planned merger between NYK Line, MOL, and K Line. A merger increases the risks of price fixing in the container market, says the authority.

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