Maersk projects lower growth in the container market in 2019 than previously stated. The shipping company finished the quarter with a profit of USD 520 million for its continuing activities. Being updated.'
If the shipping companies want to remain relevant to investors and banks, the sector needs to start delivering results in terms of environmental and climate efforts soon, says shipping bank DNB in an interview with ShippingWatch.
Germany's Hapag-Lloyd delivers a significantly stronger operating profit for the third quarter as both volumes and rates increased. However, volumes grew less than expected.
Shipowner Seaspan buys several container ships in USD 380 million deal. With this takeover, the company almost has a fleet of 1 million teu.
The deficit got smaller at South Korean container line HMM in the third quarter. But the company still sees many risks in the global economy, and the transition to a new alliance is also a focus point.
Andreas Sohmen-Pao's BW Group has been buying up shares in Jonn Fredriksen's gas shipping company Flex LNG.
Just like many of its competitors, Italian product tanker carrier d'Amico International Shipping reports a red bottom line for the third quarter. The deficit is smaller than lit was at the same time last year, however.
Tanker shipping company Diamond S Shipping saw its deficit grow in the third quarter on losses related to ship sales. But the tanker rates have stabilized at a very high level, says optimistic CEO.
Teekay Tankers has been able to double the fixed charter rates in the fourth quarter. Several one-off events in October contributed to the surge, shows interim report.
Despite increasing revenue, "extraordinary costs" connected to the refinancing of the fleet pulled down the bottom line at Epic Gas during the third quarter.
The Taiwanese shipping company reports a third quarter deficit and sees signs of "weaker demand" in the container market.
Terminal owner Macquarie Infrastructure Corp. faces litigation from shareholders claiming the group has masked the consequences of declining demand for high-sulfur fuel oil. The company denies the charges, calling the matter a classic case of "fraud by hindsight".
Søren Skou has gotten rid of or parted ways with a series of prominent executive colleagues in recent years, either as CEO of Maersk Line or the Group. ShippingWatch provides an overview of the key senior executives who have left the shipping company.
German container shipping line Hapag-Lloyd has appointed a new CFO, who will take over the position from March 1, 2020, replacing the company's current chief financial officer.
DFDS' growth target has been cut in half since Niels Smedegaard resigned as CEO. But his replacement, Torben Carlsen, thinks improvement might occur next year in the company's two most important markets. The company's stock price increased 7.4 percent Tuesday.
Sources tell Alphaliner that APM Terminals has confirmed talks with ECT for the sale of one of its Rotterdam terminals in notice to the unions that would be affected by such a sale.
With the current policies, global energy consumption will increase by 25 percent ahead of 2040, accompanied by continued growth in greenhouse gas emissions.
Revenue grew by 8 percent in the first nine months of the year for the terminal company that handles a large part of container transports in the Port of Hamburg. However, chairwoman warns of a volatile and unstable market.
While Maersk is publicly criticizing the exhaust gas cleaning systems, the group has still begun to install them on a large scale. Smart choice, say analysts.
For the first time since 2009, container volumes across the Pacific look set to decrease, reports Alphaliner. The firm projects a combined decrease of 2 percent for the year.
A Shell subsidiary has hired rig Maersk Developer for two well development projects. The contract is valued at USD 39 million.
Maersk's now former COO Søren Toft confirms to ShippingWatch that he has landed a new position as CEO. It may well be with one of the major shipping company's European competitors. ShippingWatch reviews the most obvious possibilities.
The tanker market looks set to be strong in the "next several years," says Torm Executive Director Jacob Meldgaard to ShippingWatch. This is due to a low fleet growth of new ships in the long term, while the IMO's coming sulfur regulations boost the market right now.
Shipping and logistics major DFDS downgrades its revenue growth expectations for the year again. "We are exposed to market developments in the regions we serve," says CEO Torben Carlsen.
Panamax and the post-panamax segment will serve as Klaveness' profit driver going forward.
Experienced accountant for international shipping company
Rector for Marstal Navigation School
Bunker Broker - Liberty Marine Fuels 
Bunker Trader Officer - GMS in Dubai
