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Photo: PR-foto/J. Lauritzen

J. Lauritzen: Dry bulk challenging despite improvements

Bulk:

J. Lauritzen delivered an improved operating result in the first quarter, though the carrier still suffered a deficit. "Despite market improvements in Q1, dry cargo markets continue to be challenging," says CEO Mads P. Zacho. The carrier maintains its expectations for the full year 2017.


BY LOUISE VOGDRUP-SCHMIDT
Published 16.05.17 at 10:09

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Most read Bulk

Death on Norden vessel being investigated

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A 38-year-old crew member from the Philippines has been killed in an accident on board Norden vessel Nord Quebec when the ship berthed at Troi-Riviéres in Canada. The Canadian authorities are investigating the accident.

Star Bulk delivered smaller deficit

Bulk:

The Greek dry bulk carrier finished the first quarter with a significantly smaller deficit compared to the same period last year. The carrier's share remains JP Morgan's "top pick."

Analysts: Dry bulk shares will be winners in 2017

Bulk:

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.

Pacific Basin hires CFO from BW Pacific

Bulk:

Pacific Basin has hired a new CFO who is joining the company from tanker carrier BW Pacific. He has a background in the finance sector and will start in his new position in August when the current CFO steps down.

JP Morgan: Dry bulk market will be even worse in 2016

Bulk:

In a new report, investment bank JP Morgan points to bleak prospects for the dry bulk sector in 2016. Read on to learn what the bulk carriers are up against next year.

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Bulk:

Two of the shipping industry's most renowned carriers, Scorpio Bulkers and Scorpio Tankers, are paying out huge fees to related parties. "Unfortunate and burdensome for companies and shareholders", says Deutsche Bank.

Current front page

Major customers criticize carriers' crewing standards

7501007186_4e7b5c4e2a_h.jpg Carriers:

Some of the world's biggest customers in dry bulk and tanker, including Trafigura and Shell, criticize carriers for slacking off on the quality of crews on board vessels, according to a new report. This fact could impact safety.

Lightship loses dramatic court case to former partner

Services:

Shipbroker Lightship Chartering has been sentenced to pay a little over DKK 500,000 to a former partner who now works at Maersk Broker. Lightship has also been sentenced for an email sent by owner Morten Have to the management of Maersk Broker.

Seadrill CEO: We will likely end up in court

Offshore:

CEO Per Wullf expects that Seadrill will have to go to court to apply for receivership as the company does not believe that all its bondholders will agree to the new recapitalization proposal.

Oil countries extend production cuts

Offshore:

Members of OPEC and several other oil producing countries reached an agreement to extend reductions on oil production. However there are indications that the market expected more from the extension.

Death on Norden vessel being investigated

Bulk:

A 38-year-old crew member from the Philippines has been killed in an accident on board Norden vessel Nord Quebec when the ship berthed at Troi-Riviéres in Canada. The Canadian authorities are investigating the accident.

Rickmers Maritime Trust completes first sale of vessels

Container:

Rickmers Maritime Trust has now completed the sale of the five first vessels to Greece's Navios, which has agreed to buy a total of 14 vessels.

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