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MPC have reached the final step in recapitalization

MPC Container Ships just held an extraordinary general assembly at which all proposals in the ongoing recapitalization were approved. The meeting is "an essential final step" in the process, says CEO Constantin Baack.

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DNB's shipping loans shrink further

Norwegian bank DNB continues to cut its shipping loans, which have again been reduced by billions of kroner. Meanwhile, loans to the oil and gas sector increased.

Hafnia continues hunt for Ardmore but will not raise its offer

Hafnia continues its efforts to take over Ardmore, but the company is not preparing a new, improved offer for the competitor, says CEO Mikael Skov. He denies that Hafnia's offer is far too low, and he calls on shareholders to focus on the long-term benefits of merging the two companies.

Danish Shipping calls for concrete action for stranded seafarers

Thursday evening, 12 countries promised to find a solution for the thousands of stranded seafarers around the world. The increasing international focus is positive, says Anne Steffensen, CEO of Danish Shipping. "But we also have to be honest and say that now is the time to act."

This week's top stories on ShippingWatch

Hafnia wants to merge with competitor Ardmore, which is less excited about the off. Maersk made a logistics acquisition, and there were news about the Stadil family's shipping bankruptcies.

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Analyst projects three survivors among listed rig operators

The world's stock-listed rig companies have debt totaling USD 37 billion and a market value of USD 2.3 billion, according to calculations made by Norwegian analyst Lukas Daul of ABG Sundal Collier. The banks need to make brutal decisions, he tells Dagens Næringsliv.

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Container lines preparing for meager Christmas season

The container shipping lines' voiding of sailings in the third quarter is a clear indicator that the build-up to Christmas sales has not happened, says Lars Jensen, CEO of Sea-Intelligence Consulting. It will be at least 2021 before things turn around.

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