John Fredriksen and his tanker carrier Frontline are offloading shares in DHT Holdings. The sale comes after Frontline's attempts to buy the competitor failed last week, as DHT made a deal with BW Group instead.
The South Korean container carrier is reaping from its strategic partnership with Maersk Line and MSC in the 2M alliance. HMM has announced a freight record for the Busan port in July, reports South Korean media.
A financial restructuring of Rickmers Group could mean that Bertram Rickmers loses his entire stake in the storied German shipping group. One of the biggest symbols of German shipping's power is about to fall.
Hard-pressed offshore carrier Maersk Supply Service recently signed an 18-month contract in Mexico and the carrier will soon be able to announce even longer contracts, CEO Steen S. Karstensen tells ShippingWatch. However, the tough market conditions will continue.
The share price for John Fredriksen's drilling company Seadrill is at its lowest level in five years, ahead of the publication of the company's interim report tomorrow Thursday. This year alone, the stock market value of the company has dropped more than 90 percent.
While German banks are battling to get rid of their bad shipping loans, Danske Bank is holding on to its portfolio, which is currently worth DKK 40 million. "We are not intending to reduce it," says Øivind Haraldsen, who is global head of shipping, to ShippingWatch.
In just three weeks, rates have more than tripled on the spot market for the large Capesize vessels, Golden Ocean CEO Birgitte Vartdal tells ShippingWatch. A Norwegian analyst firm estimates that rates for major bulk vessels could rise to over USD 40,000 in the second half of the year.