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.
Navigare Capital Partners, a new investment company targeting the shipping industry, has made its first investment in two product tankers. "We will invest in different segments," CEO Henrik Ramskov tells ShippingWatch.
Shipping magnate John Fredriksen continues the battle to take over DHT as the move could give his tanker carrier Frontline a superior position in the VLCC market. "Size does matter," one analyst tells ShippingWatch. "Very insufficient offer," says DHT.
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.
The tone between the two tanker carriers with Norwegian roots, Frontline and DHT Holdings, has become increasingly irreconcilable and hostile – not least from Frontline's CEO, who now describes DHT's double CEO capacity as a waste of shareholder money.
One of APM Terminals' largest investments, the acquisition of Spanish Grup Maritim TCB, has yet to bring in major gains. This is evident from the annual report for the Maersk family's investment company A.P. Møller Holding, which has had to cut its dividends in half after a tough year for the Maersk Group.
"We were too slow," says DFDS' VP of Communications, Gert Jakobsen, about the case in which the Danish carrier was accused of wage dumping earlier this year. Crisis management is just one of the purposes of communication in the maritime sphere.
The major Finnish supplier has established a new digital division. New people have been hired and 400 current employees from other divisions have been transferred to the division, which will focus in particular on cyber crime.
Since the first generation of larger container vessels hit the water in 2012, things have only gone one way for the number of weekly departures on major routes. SeaIntel has reviewed how many departures the major vessels have cut from their schedules.