Car carriers have rarely seen such profits: "We are probably at an all-time high"

After a difficult time during the pandemic, 2022 has exceeded all expectations for car carriers, says chief exec of Höegh Autoliners. Low capacity and electric cars out of China are main factors in elevating prices.

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Container

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Hamburg Süd will lose its company name and gradually be integrated into the Maersk brand. A number of other subsidiaries face rebranding as well.

For subscribers

Foto: Ints Kalnins/Reuters/Ritzau Scanpix/REUTERS / X02120

Tanker

Fredriksen now owns nearly as many Euronav shares as the Saverys family

Through subsidiaries, Fredriksen’s shareholding in Euronav has reached nearly 25 percent, almost matching that of the Saverys, who blocked a merger with Frontline. Interesting development, says analyst.

For subscribers

”Blue Water wants to grow – but it will be with a focus on profitable growth, and we will hold on to our strong values, unique customer focus and high level of satisfaction among both customers and personnel,” states Kurt Skov, founder and departing chair at Blue Water Shipping. | Foto: Carsten Andreasen/Ritzau Scanpix

Logistics

Blue Water founder promises future "focus on profitable growth"

Kurt Skov is about to step down as chairman of Blue Water Shipping, but he won’t let the company go. As a regular board member, he will still ”follow the overall operations.”

For subscribers

Did you read?

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Hamburg Süd will lose its company name and gradually be integrated into the Maersk brand. A number of other subsidiaries face rebranding as well.

For subscribers

Foto: Tatiana Meel/Reuters/Ritzau Scanpix

Regulation

EU considers capping Russian fuel prices at USD 100 a barrel

With less than ten days until sanctions on refined petroleum products from Russia will be implemented, the EU is allegedly contemplating a price cap on the nation’s diesel at USD 100 per barrel.

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Offshore

Borr Drilling raises USD 400m to pay off debt

The drilling company has secured a new bond loan of USD 150m, which in combination with another recent credit facility will be used for resolving an existing loan due late May.

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Tanker

Income for ice class tankers has surged by 1,644 percent following sanctions

Purchase and sale of ice class tankers have more than doubled, and ship earnings have increased by an astounding 1,644 percent. Sanctions against Russia could be an explanation, according to VesselsValue.

For subscribers

Did you read?

Maersk and MSC dissolve 2M alliance

The two container majors have agreed to terminate their current partnership effective January 2025.

Carriers

Floating power station to provide energy for one million Ukrainians

A Ukrainian utility is close to leasing a powervessel that will be able to supply energy for up against one million people in the war-stricken country.

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Suppliers

Singaporean competition authorities to probe DSME sale

The competition authority in Singapore will now scrutinize the sale of shipyard group DSME to domestic industry group Hanwha.

For subscribers

Foto: Wolfram Steinberg/AP/Ritzau Scanpix

Regulation

New partnership to investigate potential human rights abuse at sea

Organizations Human Rights at Sea and Confidential Human Factors Incident Reporting Programme pledge to share resources and investigate cases involving potential violations of human rights at sea.

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Container

Maersk settles in sexual harassment case between captain and cook

U.S. Marine Management Inc., a subsidiary to Maersk Line Limited, closes legal matter regarding a sexual harassment aboard ship through an undisclosed settlement. It is the fourth harassment case in Maersk’s US branch.

For subscribers

Did you read?

Car carriers have rarely seen such profits: "We are probably at an all-time high"

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Jobs

Foto: Christian Charisius/AP/Ritzau Scanpix

Container

Carrier alliances shaped by decade of crises, price war and major acquisitions

The origins of the current collaborations between major container liners go ten years back. A new wave of fundamental alterations could be underway following Maersk and MSC’s ended partnership.

For subscribers

Tanker

Torm changes tactics committing to a USD 233m purchase spree

Two months ago, Torm chief exec Jacob Meldgaard claimed not to busy himself with ”planting new seeds” in spite of a booming tanker market with skyrocketing rates and record earnings. Now, however, Torm is buying up.

For subscribers

”To understand the reasoning behind our decision, it’s important to understand how our current strategy is very different compared to 2015. We now have an integrator strategy,” says Johan Sigsgaard, Chief Product Officer - Ocean at Maersk. | Foto: Maersk

Container

Johan Sigsgaard: Maersk has no ambitions of entering new major alliance

Maersk needs more independence than what participation in the 2M alliance allows for, and the carrier therefore has no intentions of forming a new major box alliance, says Ocean CPO Johan Sigsgaard.

For subscribers

Maersk Supply Service bags major offshore wind deal in Brazil

Maersk Supply Service inks major Brazilian contract from Petrobras tasking the offshore carrier’s vessel with towing and mooring a floating FPSO production facility to the Búzios oil field within the Santos Basin.

For subscribers

Container

Hapag-Lloyd denies further alliance disintegration

The ended collaboration between MSC and Maersk will not lead to additional dissolutions among other box alliances. At least not according to Hapag-Lloyd.

For subscribers

Container

Robust reefer market beginning to show signs of weakness

The otherwise solid reefer market is now marked by the same decline in demand as seen in the container sector in recent months, affecting spot prices, according to Xeneta.

For subscribers

ShippingWatch.com

Hapag-Lloyd buys significant stake in Indian port operator

German Hapag-Lloyd solidifies presence in India substantially by investing in domestic port terminal, says the carrier’s CEO.

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Carriers

Turkish freighter hit by missile in Ukraine

Late Tuesday, a Turkish-owned cargo ship was allegedly struck by a missile in Ukrainian port city Kherson.

For subscribers

Container

Hapag-Lloyd to examine options for ammonia bunkering

In collaboration with supplier Mabanaft, the German container major will evaluate the options for supply of ammonia for its ships in Hamburg and Houston.

For subscribers

Chief execs of Maersk and MSC, Vincent Clerc and Søren Toft, acknowledges that much have changed for the carriers since launching the 2M alliance. For that reason, the partnership is now ended. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix

Container

End of 2M alliance could trigger a domino effect

A new reality on freight markets and a need for fewer ties could be main reasons behind MSC and Maersk terminating their partnership. More alliance dissolutions could be coming, according to shipping analyst.

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Container

Søren Toft on terminated partnership: "The 2M alliance played a key role"

Joining forces with Maersk was a necessary move to pour oil on troubled waters for container carriers, says MSC chief exec. He stresses that the carrier will continue its current fleet expansion.

For subscribers

Job changes

Frank Mortensen
New position: Head of Strategy
New employer: Fednav
01/04/2023
Derek Langston
New position: Head of Dry Cargo Research
New employer: Braemar
Steve Kunzer
New position: CEO
New employer: Lila Global

Tanker

Major US investor divests half of Hafnia stake

A US private equity firm has made a large divestment of its Hafnia shares, withdrawing from the tanker operator’s board as well.

For subscribers

Offshore

Former Maersk Drilling executive joins Seadrill's board

Seadrill receives a new board member with CFO experience from Maersk Drilling.

For subscribers

Offshore

Eneti bags contracts for several of its installation vessels

Offshore operator Eneti, commanding a fleet of wind installation vessels, bags contract and extensions on a string of British-flagged ships.

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Carriers

Freighter with 22 aboard has capsized off coast of Japan

The Hong Kong-registered cargo ship sank off the Japanese coast. 13 crew members have been rescued, while nine are still missing.

Jobs

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Car carriers have rarely seen such profits: "We are probably at an all-time high"

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Fredriksen now owns nearly as many Euronav shares as the Saverys family

Blue Water founder promises future "focus on profitable growth"

Did you read?

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

EU considers capping Russian fuel prices at USD 100 a barrel

Borr Drilling raises USD 400m to pay off debt

Sign up for our newsletter

Jobs

Income for ice class tankers has surged by 1,644 percent following sanctions

Did you read?

Maersk and MSC dissolve 2M alliance

Floating power station to provide energy for one million Ukrainians

Singaporean competition authorities to probe DSME sale

New partnership to investigate potential human rights abuse at sea

Maersk settles in sexual harassment case between captain and cook

Did you read?

Car carriers have rarely seen such profits: "We are probably at an all-time high"

Latest news

Jobs

Carrier alliances shaped by decade of crises, price war and major acquisitions

Torm changes tactics committing to a USD 233m purchase spree

Johan Sigsgaard: Maersk has no ambitions of entering new major alliance

Most read

Maersk Supply Service bags major offshore wind deal in Brazil

Hapag-Lloyd denies further alliance disintegration

Robust reefer market beginning to show signs of weakness

Hapag-Lloyd buys significant stake in Indian port operator

Turkish freighter hit by missile in Ukraine

Hapag-Lloyd to examine options for ammonia bunkering

End of 2M alliance could trigger a domino effect

Søren Toft on terminated partnership: "The 2M alliance played a key role"

Job changes

Frank Mortensen

Derek Langston

Steve Kunzer

Major US investor divests half of Hafnia stake

Former Maersk Drilling executive joins Seadrill's board

Eneti bags contracts for several of its installation vessels

Freighter with 22 aboard has capsized off coast of Japan

Jobs