The German multipurpose carrier has experienced a decline in cargo volumes in Asia by almost one third in the first months of the year. "We are preparing for a tough year," COO Henrik Pedersen tells ShippingWatch.
A vessel from carrier Ultrabulk loaded with phosphate has been detained in Panama. Ultrabulk is breaching international laws, says NGO. The cargo is legal, says Ultrabulk CEO Per Lange, who is backed by association Danish Shipping. The vessel has been released Monday.
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.
There will be no need to inject more money from Lauritzen Fonden into J. Lauritzen, agree the managing director of owner Lauritzen Fonden and the carrier's CEO in comments to ShippingWatch. J. Lauritzen has received a little over USD 194 million from the owner in 2016 and 2017.
The idea that bigger companies enjoy increased interest from major investors will now be put to the test in the wake of the merger between Navig8 and Scorpio Tankers, says Mikael Skov, CEO of Hafnia Tankers, who has IPO plans of his own.
Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.
The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.
A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.
The consolidation wave in product tanker is now reality. Robert Bugbee's Scorpio Tankers will merge with Navig8 and issue new shares for USD 200 million. The new behemoth will have a fleet of 105 vessels and will compete directly with carriers such as Torm, Ardmore, and Hafnia Tankers.