Wallenius Wilhelmsen acknowledges that the public attitude to CO2 is quickly developing into a demand for zero emissions, and that this could lead to an adjustment of the shipping sector's target of a 50 percent reduction by 2050. Maersk says that the 2030 target is a crucial step.
Shipping company Norden dismisses 11 employees, who are losing their jobs because technical operation of the company's dry bulk ships is being outsourced to a Singapore-based operation. This happens as a part of Norden's strategy to shift its business toward buying and selling dry bulk vessels.
"If it's that obvious, why don't you just start," says DFDS' environment chief, Poul Woodall, to shipping companies planning on using slow steaming to reduce CO2 emissions. The ferry operator has a proposal for how planning could reduce one route's emissions by 40,000 tons per year.
A new joint venture between MPC Capital and Zeaborn will control more than 160 ships, says MPC. The new ship management company expects to launch operations on Nov. 1.
It comes as a surprise to Samskip that the Icelandic Competition Appeals Committee has rejected the protests voiced by the shipping company against the collaboration between Eimskip and Royal Arctic Line.
Ship operator Navig8 Chemical Tankers reduced its bottom line deficit, which now stands at USD 3.7 million. Meanwhile, the company's revenue grew slightly in the period.
LNG is the way forward in the next decade in terms of environmental fuel for the shipping sector, says a new report by classification bureau DNV GL.
Resistance from British and Norwegian competition authorities to the merger of Prosafe and Floatel now prompts Prosafe to reconsider the move.
The Norwegian oil and gas major has located 8-14 million cubic meters of extractable oil equivalents during its Ørn exploration. Equinor says the find adds extra volume to a mature field and shows that opportunities still exist on the Norwegian continental shelf.
Offshore service company Boskalis has agreed with the Iraqi government to build a new oil terminal in the country.
The tanker market is fraught with increasing anxiety and uncertainty after two oil facilities were attacked by drones in Saudi Arabia, fanning the flames of existing tensions. "Not good," Kim Ullman, CEO at Concordia Maritime, tells ShippingWatch.
Shipping organization Bimco expects low growth in transported containers for the rest of 2019. This will worsen the balance and paint a "disturbing picture" for the industry this year and the next.
Asset sales and closures are behind Endofa's largest profit since its founding. The company's 2018 financials show, however, a dramatic decline in revenue and personnel head count. Only two employees remain in the company, currently operated from the US.
Maersk Tankers and commodity trader Cargill enter strategic collaboration in which the parties create a joint MR pool, which will consist of more than 60 vessels.
The attacks on two Saudi oil facilities entailed a higher risk profile for shipping companies in the Persian Gulf, Risk Intelligence CEO Hans Tino Hansen assesses. However, there is nothing the companies themselves can do to affect the situation, he says.
Dry bulk shipping company Golden Ocean increases its investment in Singapore Marine, which the former acquired a stake in during spring.
Samskip's protests against Eimskip and Royal Arctic Line's transatlantic partnership have now been rejected by the Icelandic Board of Appeal. However, the starting date for the joint service operation is postponed once again.
Norwegian shipbuilding and service company Kvaerner intends to increase its revenue by 40 percent over the coming four years. This growth is to stem from two new focus areas, renewable energy and floating production units.
VLCC and LPG rates will face pressure following Saturday's drone attack on two Saudi oil plants, assesses investment bank Cleaves Securities. The bank furthermore predicts that the strike may lead to "several attacks on shipping" in the area around the Strait of Hormuz.
John Fredriksen-controlled Ship Finance International gets a new name, agreed upon at the latest general assembly. The Bermuda-based shipping line is still trading under the SFL designation on the stock exchange, however.
Seadrill Chief Executive Anton Dibowitz is not happy with the prices oil companies currently offer rig companies. It will take time before the prices correct themselves again, says Equinor's CFO to ShippingWatch.
Oil posted its biggest ever intraday jump to more than USD 71 a barrel after a strike on a Saudi Arabian oil facility removed about 5 percent of global supplies, an attack the US has blamed on Iran.
Maersk does not think it is a good idea to adopte global legislation to regulate speed limits in order to reduce CO2 emissions. Such a measure would reward reactionary shipping companies, argues the shipping line.
Dry bulk venture 2020 Bulkers, which has Tor Olav Trøim as founder and major shareholder, does not exclude the possibility of a future sale. "If this company does not exist one year from now, that is not a problem," says the CEO.
Norwegian pension fund KLP, which owns stock in Maersk, is to contact the shipping line for more information on the fatal accident at Indian beaching yard Shree Ram. "It's worrying," says KLP's head of responsible investments to ShippingWatch.
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