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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.


BY SØREN PICO
Published 23.03.17 at 11:46

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Most read Bulk

J. Lauritzen picks new head of bulk from own ranks

wøidemann.jpg Bulk:

J. Lauritzen has appointed a new head of its dry bulk business, as the carrier promotes a candidate from within its own ranks to COO. He will replace Peter Borup who left the carrier in March.

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.

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.

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.

22 seafarers missing after dramatic shipwreck

Bulk:

A South Korean-owned dry bulk vessel with 24 crew members and 260,000 tons of iron ore on board has been shipwrecked en route from Brazil to China.

"An industry downturn is exactly what we need"

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.

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Maersk Broker has never before sold this many vessels

_TOF7310_aha.jpg Services:

The Maersk family's brokerage firm maintains its forecast for an improved result compared to a weak 2016, CEO Anders Hald tells ShippingWatch. Though there is solid activity in buying and selling, it is still happening at very low prices, he says.

J. Lauritzen picks new head of bulk from own ranks

Bulk:

J. Lauritzen has appointed a new head of its dry bulk business, as the carrier promotes a candidate from within its own ranks to COO. He will replace Peter Borup who left the carrier in March.

Shipping and offshore's new financiers come from China

Services:

Chinese leasing companies have stormed into shipping and offshore accounting for 15 percent of new loans in 2016, according to new figures. ShippingWatch has met two of the new bankers which the maritime industry should start getting used to. "It's strictly commercial," they say.

Spanish dockworkers sign agreement and call off strike

Ports:

Spanish dockworkers call of the strike currently in progress, after they have signed an agreement concerning labor conditions at the ports, reports Reuters.

Maersk in close dialog with MSC following cyber attack

Container:

Maersk Line's partner in the 2M alliance, MSC, ensures its customers that the carrier's systems are running as normal following the cyber attack on Maersk's IT systems.

MAN Diesel & Turbo senior exec to head new green shipping team

Suppliers:

Green Ship of the Future has now appointed its management team for the next two years, with senior executives from MAN Diesel & Turbo and DFDS filling the top positions in the network that consists of 48 stakeholders in the maritime sector.

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