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DP World buys P&O Ferries

DP World has entered an agreement to purchase P&O Ferries, which operates ferry services on the English Channel in competition with DFDS. The Dubai-based company thus continues its acquisition spree following its takeover of Unifeeder.

PIL pulling out of important container route

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After 15 years, Singapore-based shipping line PIL is withdrawing from the important trade route between Asia and Europe. This will not resolve problems with overcapacity, says Alphaliner.

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BW Offshore increased its profit in 2018

Both the top and bottom line grew for offshore company BW Offshore in 2018. The shipping company sees signs of an improved market, in which a higher oil price is expected to result in extended contracts for ships.

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Qatar confirms plans for 60 new LNG ships

The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.

Golden Ocean eyes uncertain dry bulk market

Golden Ocean booked a profit in the fourth quarter but is currently navigating in an uncertain dry bulk market, in which the Vale accident has made an impact. Sentiment is negative, says CEO Birgitte Vartdal.

Bomin hit by new accusations of dirty bunker

German bunker company Bomin has been hit with two new accusations concerning contaminated bunker. In one case, a company claims that Bomin knew the bunker oil was contaminated even prior to delivery.

Transocean reduces billion dollar deficit

The level of activity will increase in 2019, forecasts Transocean President and Chief Executive Jeremy Thigpen, who estimates that the recovery began in 2018 when Transocean also completed a number of acquisitions.

Manufacturers losing USD 100-200 per container

The container producers are losing upwards of USD 200 every time they send a new dry container into the market, according to a new study by Drewry. Maersk recently shut down two factories, though the shipping line and its peers could benefit from the development.

Maersk and Zim shrank their fleets in 2018

According to a survey by Seaintelligence, the fleets at 6 of the 12 largest liner shipping companies have grown less than the increase in general demand. Maersk and Zim have downright reduced their fleet size in 2018.

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