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BY SHIPPINGWATCH
Published 16.12.16 at 10:21

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Most read Carriers

Competitors overtake Maersk Line in 2017

CMACGMMARCOPOLO.jpg Carriers:

2017 showed the first signs of improvement in the struggling container market, according to a comparison of first quarter results from the major carriers carried out by SeaIntel. It also shows that Maersk Line has fallen behind several of its competitors on the earnings front.

Hapag-Lloyd's deal with UASC will be presented next week

Carriers:

The deals between Hapag-Lloyd and UASC have been signed and the merger is thus finalized after a delay of almost two months. There are many indications, however, that the announcement of the deal will not take place until next Wednesday.

Topaz in deficit on tough markets in first quarter

Carriers:

The weak offshore market continues to squeeze the Dubai-based offshore carrier. Revenue dove and the result plunged into a deficit in the first quarter of the year, and the carrier's markets also look challenging in the future, says the CEO.

Here are the world's richest shipping families

Carriers:

The shipping business has been particularly noted for creating massive family fortunes around the world. The Maersk family occupies the 2nd place on Alphaliner's list of the 21 richest shipping families.

Weco A/S projects worse 2017

Carriers:

Shipping group Weco A/S saw revenue and earnings decrease from 2015 to 2016, and 2017 will also be a tough year. Shipowner Johan Wedell-Wedellsborg has scaled down several of his shipping activities during the same period.

Costs take a chunk out of Eimskip's profit

Carriers:

A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.

Current front page

New tanker behemoth is a guidepost in consolidation wave

Photo For Superintdt 083.jpg Tanker:

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.

Hapag-Lloyd seals merger with UASC: "A milestone in history"

Container:

Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.

Dong sells oil and gas business to Switzerland's Ineos

Offshore:

After protracted negotiations, it is now clear that Swiss company Ineos will buy Danish Dong's oil and gas business.

Seadrill could get fresh capital from new investor

Offshore:

The Fredriksen-controlled rig unit exits the first quarter with a slide in revenue and an operating result virtually slashed in half compared to the same period last year. A new investor could be about to enter the company.

Costs take a chunk out of Eimskip's profit

Carriers:

A fishermen's strike and a fine from Iceland's Financial Supervisory Authority were factors in a reduction of Eimskip's profit in this year's first quarter. Growing expenses in freight rates and fuel also had a negative impact.

Scorpio Tankers merges with Navig8

Tanker:

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.

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