Norwegian gas carrier Höegh LNG booked a USD 8.5 million profit in the second quarter. A new strategic alliance with an Arab carrier is a positive indicator of the expected boom for floating LNG terminals, says the CEO in the rpeort.
One of the next companies to be spun off from Maersk Group, Maersk Tankers, made a tactical error in the latest quarter, acknowledges CEO Christian Ingerslev to ShippingWatch. This led to a significantly bad result.
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.
India will spend USD millions on improving the conditions at shipbreaking facilities in Alang, to ensure that they comply with international rules and regulations. Some of the money for the project comes from Japan.
Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.
Wilh. Wilhelmsen will pay NOK 545 million to boost its ownership stake in offshore company Norsea Group to 72 percent. "We wish to have an exposure towards the energy market, primarily oil and gas," explains the company.