There will be more mergers, acquisitions, and general consolidation in the product tanker market within the next 12-24 months, Hafnia Tankers and Jyske Bank tell ShippingWatch. Torm Executive Director Jacob Meldgaard is also open to the idea.
The two gas carriers Höegh LNG and Nakilat will look into forming a joint business in Floating Storage and Regasification Units for LNG. The companies have signed a Memorandum of Understanding to explore the possibilities.
A series of private equity companies are approaching the perfect timing for selling their stakes in product tanker carriers, and this could be the beginning of an upheaval in the industry. Torm's CEO is ready to explore merger opportunities.
Jo Tankers has been owned by the Odfjell family for several years, but now it has been sold to Stolt-Nielsen. It was a tough decision to sell the chemical tanker carrier, says Johan Odvar Odfjell in a press release.
CEO of the Port of Gothenburg, Magnus Kårestedt, has spent much of his time in the last 18 months handling the port's labor conflict between APM Terminals and the dockworkers. "Many don't understand the core of the conflict," he says in the latest article in ShippingWatch's series on communication.
Rates have generally been higher in 2017, a year projected by many to be a year of beginning recovery – but a decline since the boom in the spring has curbed the budding optimism. And this could be a good thing, says J.P. Morgan.
Keppel's marine business, which covers several yards specializing in offshore, suffered a deficit in the first six months of the year, compared to a profit of USD 177 million in the same period last year. The offshore sector drags the business down.
Rotterdam's port booked a positive first half of the year with rising freight volumes. But if this development is to continue, the Dutch state must show more support, like in neighboring countries such as Germany, the port urges.