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Foto: Michael Lindner/Port of Hamburg Marketing

OECD downgrades growth forecast for global economy

The global economy is still growing, though it's losing momentum, according to the latest growth estimate of the OECD's Economic Outlook. Bottlenecks in the shipping sector and elsewhere as well as pressure on supply chains have contributed to rising inflation.

"We'll create a stronger trading organization by merging our two operator businesses," says CEO Jan Rindbo on the new structure at Norden. | Foto: NORDEN

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

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Logistics companies face 12-percent growth in 2021

The global logistics market is advancing far in 2021 and is going to take over the market seen in 2019 prior to the Covid-19 pandemic, predicts Transport Intelligence. Air freight in particular has grown as a result of bottlenecks in sea and land transport. Growth will diminish in the coming years.

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

400 people risk being laid off at Seadrill

Once the contracts for two of Seadrill's drilling rigs expire, around 400 of the company's 1,050 employees are at risk of losing their jobs, reports media. Labor union expects the carrier to announce dismissals prior to Christmas.

X-Press Feeders orders eight methanol-powered container vessels

Singapore-based carrier X-Press Feeders has placed an order for eight new container vessels capable of sailing on both green methanol and conventional bunker oil. The ships will be delivered in 2023 and 2024. The carrier initially announced the order as being for 16 new ships but has since adjusted this number. Updated.

Prosecutor seeks prison sentence and fine of DKK 400 million in Dan-Bunkering case

The prosecution seeks a fine of DKK 400 million for the defendants in the Dan-Bunkering case and a two-year prison sentence for the CEO of Bunker Holding. "It is telling of the severity of this crime that the jet fuel has been used for refueling Russian bombers in order to assist Assad," said senior prosecutor during his closing arguments. Updated.

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