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Søren Skou: 2019 looks even more uncertain

CEO Søren Skou thinks Maersk has a problem with earnings. And the rising oil price, an unpredictable US president and lower global growth in 2019 will only counteract the chief executive's important task of increasing operating earnings.

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Agility CFO: We don't see ourselves as exiting

Agility does not boast about details in terms of plans with Swiss Panalpina, which DSV has offered to acquire for USD 28 billion. The company's CFO, Ehad Aziz, emphasizes however, that the Kuwaiti company has no plans to exit the logistics market.

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HMM's CEO steps down

South Korean container carrier HMM's CEO, CK Yoo, will step down from his position as chief executive next month, informs the departing CEO in an e-mail to his colleagues.

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Teekay Tankers sees sudden rate dive for crude oil

High rates provided Teekay Tankers with a profit in the fourth quarter, however, it is not enough to fix the whole year, which ended with an aggregate deficit. 2019 started well but has since gone downhill.

Norway expects fewer oil investments

Statistics Norway has lowered its expectations as to how much the oil industry will invest in the Norwegian oil and gas industry this year. Investments are, however, expected to increase compared to last year.

Glencore sets cap on its coal production

Swiss commodity trader Glencore aims to limit its coal production to "current levels" in a part of its climate change mitigation efforts – a decision that could raise the price of thermal coal, a Wood Mackenzie analyst assesses.

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Chinese port group shuts down Australian coal import

One of China's largest port operators has banned coal imports from Australia. Customs declarations on Australian coal have practically doubled in several other Chinese ports, so processing times have grown to at least 40 days.

DP World buys P&O Ferries

DP World has entered an agreement to purchase P&O Ferries, which operates ferry services on the English Channel in competition with DFDS. The Dubai-based company thus continues its acquisition spree following its takeover of Unifeeder.

PIL pulling out of important container route

After 15 years, Singapore-based shipping line PIL is withdrawing from the important trade route between Asia and Europe. This will not resolve problems with overcapacity, says Alphaliner.

BW Offshore increased its profit in 2018

Both the top and bottom line grew for offshore company BW Offshore in 2018. The shipping company sees signs of an improved market, in which a higher oil price is expected to result in extended contracts for ships.

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