Japanese carrier Mitsui O.S.K. Lines books a profit on the bottom line in the period from April to September. However, the company is still downgrading its forecast for the full year, according to the six-month interim report.
Yet another large takeover in the European project cargo sector is shifting the power balance in the sector. Germany's Zeaborn is acquiring Rickmers-Linie and NPC Projects, informs the Bremen-based carrier.
Container carriers have formed several collaborations for digital solutions within the past few weeks alone – and many more similar arrangements will follow in the first half of 2017 in the search for the best digitalization of container carrier services, says analyst Lars Jensen of Seaintelligence Consulting.
The financial crisis and the collapse of the German financing scheme are starting to displace Germany as one of the world's biggest shipowners while other companies are building large orderbooks, according to a new survey by Alphaliner.
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.
While new niche banks are emerging in the maritime sector, several of the traditional banks active in shipping and offshore are reducing their exposure to the sector. DNB is one of them. The bank believes that bigger companies and lower costs represent the way out of the offshore crisis.
Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.
Transocean received a large one-off income in October when an Indian offshore company canceled a long-term contract for a drilling vessel. The figure offsets a decline in revenue from the drilling activities in the fourth quarter.
Gridlocked negotiations between APM Terminals and dockworkers in Gothenburg, a new full-year deficit for J. Lauritzen, and a change in strategy at Damco are among this week's top stories on ShippingWatch.