DHL, one of the world's largest logistics companies, welcomes the container industry's digital roll-out. However, shipowners have a long way to go, the company assesses. "The usability and quality of those tools are still not up to demand."
A new study by the Swedish Environmental Research Institute has tested wash water from open-loop scrubbers. The tests show that untreated wash water from open-loop scrubbers contains significant levels of pollution and is harmful to the marine environment. Researchers behind the study express concerns about the long-term consequences.
At least twice the Danish foreign ministry was warned by US authorities that Dan-Bunkering was involved in jet fuel deliveries to Syria according to Danish media DR. The Danish fraud squad, intelligence service, business authority and local police were also warned. In spite of these warnings, delivery continued.
Oil companies were living beyond their means before the downturn. As such, rig companies should not count on the market ever becoming as good again. Meanwhile, capital sources have largely dried out – though there are subtle signs of improvement.
Sliding profit margins pose difficulties for logistics companies in paying for Brexit preparations, concludes a new report from the UK's Freight Transport Association. 37 percent of companies participating in the survey have not yet taken steps to prepare.
More tanker, dry bulk and container vessels were taken off the market in June to have scrubbers installed, sending rates soaring, according to analyst firm. Combined with a small order book, the supply side is "probably the best we have seen the last 15-20 years".
The market value of container liner Hapag-Lloyd has increased significantly in the first half of the year after two of its major shareholders have increased their ownership stakes, reports analyst firm Alphaliner.
Oil service group TechnipFMC reaches settlement with US and Brazilian authorities, receiving a fine of almost USD 300 million in a case involving bribery in Brazil and Iraq.
Dolphin Drilling has filed for bankruptcy after it was unable to reach agreement with its creditors.
Commodity trader Vitol is building a small-scale refinery in Malaysia, which will become part of the company's setup to supply low-sulfur fuel oil when the new sulfur regulations come into force.
There are prominent business people as well as a surprising name of a family-owned company among the 17 investors that have already placed money in Carsten Mortensen's new investment fund. Former Maersk CEO is among the major investors. Find the rest here.
2018 was far from the turning point Evergas had hoped for. The gas shipping company's future lies in the ethane market from the US to China, but the trade war has slowed down the plans to buy even more ships, CEO Steffen Jacobsen tells ShippingWatch.
Only three of the world's biggest listed shipping companies have strategies that could in earnest make landmark impacts on greenhouse gas emissions, assesses environmental organization. See how well-prepared the 18 biggest listed companies are for climate change mitigation.
Dolphin Drilling's creditors have requested that an insolvency ruling for the rig company be postponed until tomorrow, Wednesday. The company, however, reiterates that it will still be insolvent even if a solution is found.
Saudi Arabia, the Emirates and other nations must contribute to tightening maritime security, says US Secretary of State Mike Pompeo. The UN Security Council condemns last week's attack on two tanker vessels.
Maersk wants to simplify container transport for customers through a new online product that might contribute to averting over-booking.
Dof Subsea, which is struggling to settle a restructuring plan, has agreed with its creditors to postpone debt payments on a loan to the fall. The shipping company is also looking to change loan agreements.
Oil company Lundin Petroleum's chief executive is dissatisfied with Norway wanting to sell its oil assets. "It upsets me," says CEO Alex Schneiter to Financial Times.
Erria has entered an agreement with Vattenfall to buy a total of four ships, CEO Henrik Andersen tells ShippingWatch. The company remains on Nasdaq Copenhagen's observation list.
Drewry projects that the trade war will only entail brief disruptions in the container market. In fact, a change in trade patterns might boost the shipping sector, the firm states.
Rig company Dolphin Drilling, formerly Fred. Olsen Energy, has been unable to land a rescue plan and will file for bankruptcy if an agreement is not reached with creditors Tuesday.
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Dan-Bunkering's office in Kaliningrad has done business since 2010 with agents who have procured fuel for the Russian defense. But the company is convinced that it has not breached any rules or bans in terms of sanctions relating to the civil war in Syria.
The former CEO of BW Group, Carsten Mortensen, launches a shipping fund backed by 17 investors. Several prominent shipping professionals are already part of the fund, which aims to reach USD 100 million this year.
If EU Commissioner for Transport Violeta Bulc has her way, the container sector's consortia block exemption regulation should be extended, she says in an interview with ShippingWatch. The regulation gives liner companies certain competitive edges, and it is currently being reviewed.
Orders for what might end up being 15 new mega-vessels from Hapag-Lloyd and Evergreen, announced last week, will not have a significant impact on the market, says Lars Jensen, CEO of Seaintelligence Consulting. Sources confirm Hapag-Lloyd's interest in six new vessels to ShippingWatch.
Executive, Operations - BW LPG
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
