Order intake for Wärtsilä's maritime business declined 15 percent in the first quarter, and the Finnish company points to continued overcapacity in the market. But there could be improvements in store by the end of this year, notes the company.
Oceansaver's market disappeared after the IMO postponed the implementation deadline this summer for the ballast water requirements, CEO and Chairman Kjetil Bruun-Olsen tells ShippingWatch. The postponement hurts first movers, says association Danish Maritime.
Lars Møller, former executive at OW Bunker's subsidiary in Singapore, has been charged with fraud worth DKK 800 million. "There is nothing here in the context of criminal liability," Møller's lawyer, Arvid Andersen, tells ShippingWatch.
A series of renowned shipping names, including Blystad Group, are behind the new company Maritime Asset Partners, which will offer alternative financing to shipping companies. USD 150 million are ready to be invested. "We can raise more money according to our needs," head of the company Nick Roos tells ShippingWatch.
Oceansaver, the Norwegian ballast water management systems supplier, has been declared bankrupt. The company is just one of four companies to have secured a key type approval for its systems. The development is blamed on the slow IMO process.
Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.
Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.
The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.