With a four-point business strategy, DFDS' new CEO has set his own ambitious goals for development and growth at the shipping company ahead of 2023. ShippingWatch provides an overview. Also, find the whole strategy below.
11 of the world's biggest shipping banks now require shipping companies to meet certain climate targets in order to obtain financing. Maersk supports this decision and several Asian banks are expected to join.
Costs have been cut to the bone at Christiania Shipping, and with the first operating profit secured, the next step for the former Herning Shipping is to renew its fleet and maybe participate in consolidations. CEO Axel Eitzen expects black figures on the bottom line for this year as well, he tells ShippingWatch.
The value of offshore vessels has dropped considerably following the collapse of the oil price nearly five years ago. An older ship now costs less than USD 0.5 million, while the crisis has also kept newbuild prices in check, shows an evaluation by Vessels Value.
Six crew members died in 2015 when a Thorco vessel collided with a chemical tanker and sank. Singapore authorities have now cordoned off the area so the wreck can be salvaged.
Last week's attack on two tanker vessels in the Gulf of Oman could cause tanker rates to spike significantly in the region, estimates analyst firm Platts. The increased risk could also cause an increase in insurance premiums.
The cost of producing hydrogen from renewable sources could go down significantly from 2030, according to a new report from the International Energy Agency. Ports could play a key role in scaling up the use of hydrogen globally.
Shipping organization Bimco predicts a tough outlook for the dry bulk sector, in which trade war and swine fever have caused Chinese imports of soybeans to drop significantly this year.
John Fredriksen-owned tanker operator Flex LNG has debuted on the New York Stock Exchange, and the company is thereby listed in two countries.
DFDS presents four new strategic and financial targets aimed at growing the company's operating profit over the next five years. A third of growth should come from acquisitions. Read the main points here.
Several tanker companies have ships headed for the Gulf of Oman and during the next few days they will decide whether to continue doing business in the region. There are concurrent reports of high day rates, the head of a larger tanker pool tells ShippingWatch.
According to a study, ammonia is a viable fuel alternative in shipping's climate change mitigation efforts. From 2030, tankers may be able to sail on the ammonia they transport themselves, the company behind the report tells ShippingWatch.
The Danish ISPS contact group, represented by the Danish Maritime Authority among others, has revised its recommendations for Danish vessels in the Gulf of Oman following last week's attack on two tankers.
Chartered tonnage represents an increasing share of fleets at the world's biggest container lines, according to SeaIntelligence. Only two out of ten of some of the world's biggest shipping companies, like Maersk, oppose the trend in earnest.
US-based commodity trader Hudson Shipping Lines will not use vessels with scrubbers installed once the new sulfur regulations enter force from January.
Defense lawyers advised former OW Bunker executive Lars Møller to appeal his sentence of one and a half years in prison. Friday, that sentence was increased to five years.
Equinor has found oil and gas in the same well in the Norwegian Sea, informs the partly state-owned company Monday. The discovery includes oil equivalent of up to 60 million barrels.
South Korean shipbuilding yard DSME is part of a new partnership to develop digital ships, which are virtual copies of original ships. The copies can be used to predict performance and monitor operations onboard.
Arne Fredly-controlled Hunter Group has sold a VLCC newbuild before its delivery. The company sells it for USD 98 million, which is more than was paid build the vessel.
In May, South Korea, one of the world's biggest oil importers, stopped importing oil from Iran due to US sanctions against the country.
Frontline is exercising "extreme caution" when it comes to sending more ships through the Gulf of Oman following last week's attack on two tanker vessels. Both vessels are now in the United Arab Emirates, while Frontline's crew is in Dubai.
Although Frontline does not yet know the cause of yesterday's explosion on its vessel Front Altair, the tanker company now rules out a malfunction on the ship, management informs ShippingWatch.
Lars Møller, former CEO of OW Bunker subsidiary Dynamic Oil Trading, has just been sentenced to five years in prison by the High Court of Western Denmark. Read the sentencing here.
Following a ruling by the European Court of Justice, the European Commission is opening an in-depth examination of whether the state aid for the Fehmarn Belt link complies with regulations.
US officials have released a video they say show Iran was involved in an attack on an oil tanker near the entrance to the Persian Gulf on Thursday, one of a pair of incidents that have raised tensions between the US and the Islamic Republic over the past day. Watch the video here.
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
Executive, Operations - BW LPG
