Denmark's Attorney General's office for fraud and economic crimes has revealed that it is charging a former executive of a Singaporean subsidiary of OW Bunker with committing fraud worth DKK 800 million.
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.
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.
Following an internal audit, it has surfaced that Wärtsilä is dealing with a case regarding fraud with the test results of its engines. Two percent of the engines may be affected. Employees at the company are responsible.
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.
Norwegian billionaire investor Endre Røsjø has joined a new shipping bank as major shareholder and will likely serve as chairman, while Germany's Henning Oldendorff (pictured) and Norwegian Arne Blystad will be the biggest shareholders, sources tell ShippingWatch.
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.