Maersk now calls on authorities to launch an "effective military capacity" in the Gulf of Guinea to increase safety for vessels and crews, Maersk's head of safety tells ShippingWatch on the heels of two piracy attacks on Maersk vessels in less than a month.
Frank Coles, CEO of ship management company Wallem Group, criticizes charterers that will not allow crew changes on the ships currently idled off China loaded with Australian coal. V.Ships CEO Franck Kayser sees signs that China has started to accept some Australian coal cargoes. Friday midday, it was announced that Coles is leaving Wallem Group.
Major Norwegian bank DNB is actively working with Borr Drilling to find a rescue plan to avoid splitting up or divesting the company, the bank tells E24. The update comes a day after Dagens Næringsliv reported on a leaked backup plan from the bank.
China is breewing on a series of measures aimed at stabilizing the market and rates in container freight, says a spokesperson according to Lloyd's List. The update comes shortly after the Chinese government announced aid for, among others, container makers.
With new coronavirus lockdowns and output cuts at OPEC+, the next six months could take a toll on tanker operators' earnings. This applies to Frontline, Hunter Group and Nordic American Tankers, Cleaves Securities tells E24.
OOCL's earnings grew more than 51 percent in the fourth quarter. This growth was driven by the very strong container market in the Pacific and between Asia and Europe.
John Fredriksen's struggling rig operator Seadrill cancels an interest rate payment on a loan through company Seadrill New Finance. The company is working on a comprehensive restructuring plan, which could go through court.
Arne Blystad's offshore company OHT will open in Denmark later this year. The company has hired several experienced people with histories at Maersk Supply Service, Vattenfall, Ørsted and Deme to head the Danish expansion.
Covid-19, new sulfur requirements, lower exports to China and the collapse of commodity trader Hin Leong Trading in Singapore made bunker oil trade volumes drop 46 percent in 2020 compared to 2019, writes Reuters.
Norwegian chemical tanker carrier Odfjell has just succeeded in issuing a new bond totaling USD 100 million for the company. The bond is conditioned on the shipping company complying with its sustainability targets.
Major dry bulk carriers such as Star Bulk, Oldendorff and Golden Ocean have for months had ships loaded with Australian coal idled off China. The situation is completely unprecedented, Star Bulk president tells ShippingWatch, while Golden Ocean is now able to change the crew on board a single vessel.
Coronavirus restrictions are tightening across the world, and the situation is close to where it was in the spring last year, says ship management major OSM Maritime. New lockdowns would be bad news for several markets, says analyst.
One of the more remarkable developments in Danish marine insurance has come to an end, as UK-based Neon has sold Danish Orca to a Dutch competitor. The sale comes after years plagued by deficits.
The CEO of APM Holding, Robert Mærsk Uggla, says in an interview with Børsen that, in the midst of the Maersk boom, one should not forget that the shipping line operates in a cyclical industry, and that the logistics ambition is far from realized yet.
500,000 new containers need to be built to stem the currently red hot container market, freight forwarder Flexport tells Bloomberg. Satellite photos show a large number of container ships waiting in line off Los Angeles, reports the media.
Oil majors increasingly dominate the bunker market in Singapore, the world's biggest bunker port, shows a new list that ranks suppliers by size. The list is topped by an oil supermajor, while a Hin Leong subsidiary lost the most during the year.
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Wednesday evening, pirates attempted to board container ship Maersk Cardiff in the Gulf of Guinea, but a guard vessel was called and the attack averted, confirms Maersk.
Danish Shipping hopes that a special agreement between the EU and India can solve the slowdown that the Basel Convention has created in relation to getting Indian scrapping facilities approved. Brussels-based NGO warns that the EU risks violating important principles.
Ferry and freight operator DFDS upgrades its guidance for the results for 2020 for the third time, citing the large British stockpiling that occurred in the fourth quarter 2020 ahead of Brexit.
Lebanese authorities have asked Interpol to issue a red notice for the captain and owner of the ship, which was loaded with chemicals and ended up causing the huge explosion in Beirut last year that killed 200 people.
Towage operator Svitzer faces an unpredictable year in which both the vaccine and Brexit could upend the entire business. Nevertheless, there are still factors that could trigger greater demand, says new managing director of Europe, Lise Demant.
Infrastructure company buys tanker operator Golar LNG Partners and gas company Hygo in billion dollar deal. Sellers include Norwegian investor Tor Olav Trøim.
If strained Borr Drilling is not able to settle a rescue plan, major bank DNB considers taking over or selling the company, shows a leaked document, according to Dagens Næringsliv. Founder Tor Olav Trøim is confident that a rescue plan will be settled.
The price of European carbon quotas is soaring, as the shipping sector is on track to soon be included in the system. Right now it costs USD 42 to emit a ton of carbon, the highest price ever. Maersk has asked the EU for permission to not pay at all.
So far, no countries have been willing to back a Danish proposal for a joint military effort to combat piracy against ships in the Gulf of Guinea, Danish Defense Minister Trine Bramsen tells ShippingWatch.
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