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Cosco is considering joining digital alliance

Cosco, the world's third-largest container liner, is considering joining the Digital Container Shipping Association, which was founded by Maersk, among others. The alliance is working to create common standards for the industry.

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Blue Star Line files for bankruptcy

Danish Blue Star Line, which covers a fleet of eight ships, filed for bankruptcy on Friday. Years of deficits and two canceled charter agreements were the final blow. The biggest creditor is a bank, trustee informs ShippingWatch.

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Dry bulk rates reach highest level in five years

The Baltic Dry Index, which measures dry bulk freight rates, reached its highest level in five years Monday. Following several difficult years and a surprisingly poor start to 2019, optimism is starting to spread.

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Bank predicts positive financials at Maersk

German bank Berenberg is confident that Maersk's second quarter financials will be improved by higher freight rates and lower fuel expenses. Maersk's interim report will be published next month.

China presents slowest growth in 27 years

China's second-quarter growth was the lowest in 27 years. In the second quarter, China's gross domestic product grew by 6.2 percent, the slowest growth in about three decades, writes news agency Reuters.

Race car driver new CEO of Samskip

Samskip has found a permanent replacement for Jens Holger Nielsen. The new CEO is a 52-year-old Finn who is former chief executive of shipping company Containerships and has an active career as a race car driver.

Aker BP's profit nearly halved

Oil company Aker BP exits the second quarter with a profit that is nearly half of what the company booked for the same period last year. Production is also down.

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Ocean Yield to expand fleet

Ocean Yield, controlled by Kjell Inge Røkke's Aker group, aims to acquire more vessels in the future. Both revenue and the bottom line dropped significantly in the second quarter.

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Scorpio installs more scrubbers

Shipping group Scorpio orders even more scrubber systems for its dry bulk and tanker vessels. The new order comes on top of the 80 systems ordered last year, and are slated for installation in 2020.

This week's top stories on ShippingWatch

Blue Water will never be sold, asserted founder Kurt Skov to ShippingWatch. The detainment of vessel Grace 1 (photo), OW Bunker and a fine for Total also drew headlines this week.

Container rates increase again

Container index SCFI increased again after sliding last week. The increase happens despite a setback on routes between the Far East and Europe.

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