Yet another owner of bonds in J. Lauritzen is highly critical of the carrier's proposal to push back repayment of the loan. The investors have now hired a special consultant to handle dialog with the carrier. ShippingWatch outlines why the bondholders are prepared to vote no.
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.
Bulk carrier Scorpio Bulkers' earnings more than tripled in the first quarter, but the carrier is still sailing with losses on the bottom line. The carrier has made a USD 17 million impairment on ship values.
New Dutch multipurpose joint venture Shipping Company Groningen, which includes Thorco Project, has growth ambitions in spite of the challenges currently plaguing the segment. ShippingWatch has interviewed one of the architects behind the venture, CEO Jan van der Laan.
China is building its infrastructure and this constitutes the dominant factor in the development of the dry bulk market this year, Bimco writes in a new analysis. Brazil is playing an increasingly larger role in the transportation of iron ore.
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.
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.
New York-listed Scorpio Tankers booked a first quarter result this year, which shrank since last year, while revenue landed in line with expectations. Second quarter looks much better, says one analyst.
Several EU nations are currently subject to comprehensive reviews of their subsidies to carriers and maritime businesses. The EU Commission is preparing a more restrictive practice, ShippingWatch is told.
That was one of the arguments cited when Hafnia Tankers CEO Mikael Skov and CEO of Teekay Corporation, Kenneth Hvid, participated in a debate in which they had to convince representatives from family-owned carriers that they belong to the past.