Tradelens is now starting to focus more on terminal operators and trucking companies after several major shipping companies have decided to join the platform. According to Maersk CEO Søren Skou, Maersk is capable of forcing them to join. "Because if they want to do business with us they have to supply data," he says.
In principle, Anglo-Eastern CEO Bjørn Højgaard is not against scrubbers as one of the means to comply with the sulfur cap from Jan. 1, 2020. But he is convinced that daily operations and maintenance can be very costly, he says in an interview with ShippingWatch.
A large proportion of the world's offshore supply ships are still out of work, Maersk Supply Service estimates. 25 percent of the company's ships are presently laid up.
Svend Andersen is stepping down for good as CEO of large heavy lift company BBC Chartering. His replacement has already been found.
Maersk Container Industry's revenue has fallen by more than USD 100 million in the second quarter of 2019 compared to the same period last year. Reefer revenue also declined.
Greek Dryships Founder and CEO George Economou has bought the remaining shares of the company, taking the company off the New York Stock Exchange.
Offshore shipping company DOF booked a new deficit in the second quarter that is significantly smaller than at the same time last year, however. The company continues negotiations with its creditors to find a long-term solution.
The first half of 2019 was a cold shower for most of the LNG market, says Flex LNG's chief executive in connection with the gas carrier's presentation of yet another deficit. However, he believes improvement might be just around the corner.
John Fredriksen-controlled rig company Seadrill reports a triple-digit million-dollar deficit for the second quarter. The company has lost half a billion USD on its bottom line in the first half of the year.
There will be consequences if Greece assists a tanker that was previously detained in Gibraltar, the US warns. The vessel's name has been changed from Grace 1.
The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners.
Like the acquisition of US-based UTi, the integration of Panalpina is expected to entail layoffs, CFO Jens Lund tells ShippingWatch. DSV's management can look forward to some years of work incorporating its Swiss billion-dollar acquisition.
Maritime investment fund Dee4 Capital Partners, led by Carsten Mortensen, takes delivery of its first two product tankers. The fund previously informed that it has entered agreements on three vessels in total.
Recent years' extensive consolidation among major container liner companies has created the most stable rate environment in the global container industry ever seen, according to Sea-Intelligence.
South Korean shipbuilder Samsung Heavy Industries is to build 10 crude tanker vessels. The order was placed by an "Oceanian" customer and amounts to more than half a billion USD.
Today, Danish logistics major DSV closes its long-awaited billion-dollar acquisition of Swiss Panalpina. The company expects annual cost synergies of more than DKK 2 billion.
Eight Ukrainians and nine Chinese have been kidnapped from two vessels in the world's most dangerous waters in the Gulf of Guinea.
New Norwegian shipping bank Maritime & Merchant increased its loans again during the second quarter, and the bank continues to note interest for shipping investments despite the ongoing trade war and disappointing freight markets.
Despite protests from the US Department of Justice, a disputed Iranian oil tanker left the port in Gibraltar late Sunday evening. The tanker has been detained in the overseas UK territory since the beginning of July.
Container vessel MSC Gülsün, the largest in the world, has arrived in Europe upon completion of its maiden voyage from China.
Nordic American Tankers' red figures on the bottom line diminished in the second quarter of 2019 compared to the year prior, shows the company's most recent interim report. Nordic American Tankers experienced significantly higher rates in 2019.
Soy bean exports from the US to China will not return to normal levels for a while, shows new analysis from shipping organization Bimco.
When the new DSV Panalpina is launched on Monday, there will be several challenges lying ahead for CEO Jens Bjørn Andersen, shows an analysis of the two companies. ShippingWatch points to the two most obvious challenges.
Product tanker rates remain low in the second half of the year, and if this trend continues, Torm will end up booking a deficit for the third quarter. CEO Jacob Meldgaard is positive, however, about the remainder of the year, in which several factors are expected to boost the sector.
The trade war has not had the effect on Maersk that some observers feared. The tariffs mean nothing, but American consumer habits do, says CEO Søren Skou, who would like to meet with Donald Trump when he visits Denmark, where Maersk is headquartered.
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