Alongside firms such as DNV GL and the Kongsberg Group, Norway's Wilhelmsen will now launch a new maritime innovation center for the development of future solutions in shipping, CDO Inge André Sandvik tells ShippingWatch. He himself is new to the shipping industry.
Despite protracted and crushing pressure on the shipping sector, several companies may not have reached the bottom yet. Ten analysts list their pick for the shares they believe will lose additional market value. One company stands out in particular.
The old business model for how a carrier should be run could be dead and gone in the not too distant future, according to bank Danish Ship Finance. Chief Analyst Christopher Rex points to a need for breaking the habit.
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.
A few weeks from now the IMO will decide when carriers must install ballast water management systems. Ahead of the key MEPC meeting, uncertainty among suppliers has only grown, and Norway's Optimarin has already had to lower its full-year guidance.
The International Chamber of Shipping has announced its support for the move to postpone the deadline for installation of ballast water management systems. ShippingWatch has asked carriers such as Gaslog, Höegh LNG, Scorpio, Hafnia Tankers, and American Shipping Company about whether they agree.
Newly-established container carrier MPC Container Ships plans to have 35 to 50 feeder vessels within a year. "This would be a good starting point for us," the CEO of the Oslo-based company tells ShippingWatch.
Two of Norway's biggest figures in shipping, Kjell Inge Røkke and John Fredriksen, are behind Norway's new offshore carrier Solstad Farstad which will become the country's largest carrier. "It's a tough market out there," CEO Lars Peder Solstad tells ShippingWatch.
The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.
The EU list of yards which are allowed to dismantle European vessels has led to greater interest in Spanish shipbreaker DDR Vessels, says CEO. However, there are still many carriers trying to circumvent the rules.
APM Terminals lays off 160 in Gothenburg in a move to end the protracted port labor conflift. Shipowners look to postpone the ballast water convention by two years. Shippers worry about a shortage of reefer containers. Oil is headed for USD 40. Here are this weeks top picks.