Icelandic container carrier Eimskip booked record-breaking earnings in 2016. Management expects that the positive trends will continue in 2017 where the acquisition of two logistics companies is expected to boost business. The carrier is still looking for more acquisitions.
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.
Maersk Line's acquisition of Hamburg Süd tarnishes the German self-image during hard times as the country's shipping industry is already under pressure, says professor and maritime economist Urlich Malchow, who calls the acquisition "emotionally and symbolically very sad for Hamburg."
One of the leading observers and analysts of the international container industry, founder of SeaIntelligence Consulting, Lars Jensen, presents a qualified projection in his new book about what the sector will look like in 2025. ShippingWatch offers an excerpt from the book here.
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.