René Kofod-Olsen is V.Group's fourth CEO in just three years. The many changes have been a distraction and have led to several wrong decisions, he tells ShippingWatch. The mandate from the owner is to future-proof the company, and for this he is willing to make both selections and rejections.
Due to higher prices of raw materials, coating manufacturer Hempel now raises its prices globally.
Alwilco's new company, Integrated Wind Solutions, enters the market for completion, service and maintenance of offshore wind farms, reports Finansavisen.
Around one third of the ships controlled by Hin Leong founder O.K. Lim and his family have new owners, Reuters reports. The rest of the ships are expected to be sold by the end of the year.
Only 46 percent of Maersk's vessels arrive on time, which is a service level that Maersk, according to CCO Vincent Clerc, is "dismayed by", even if the industry reliability average is only around one in three ships.
A restructuring agreement helped turn offshore company Havila's full-year result into a profit. But earnings still show signs of a severely strained industry.
Product tanker shipping company Torm's chief executive does not see the shift from fossil fuels to green energy as a burning platform. In the long term, new business legs may arise.
The soaring rates in container transport could last until the spring of 2022, concludes Sea-Intelligence, citing two historical trends. Rates to the US could increase by an additional 25 percent.
BW LPG exits 2020 with a decline on the bottom line. The shipping company expects a tougher market in the second quarter after the first quarter brought a record start to the year.
Fuel sales and earnings declined in 2020 at US-based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices.
Danish Ship Finance saw its bottom line shrink by DKK 110 million in 2020, while the bank projects a more stable shipping market and return to growth in the year to come.
A car carrier was reportedly struck by an explosion in the Gulf of Oman Friday. According to Israel's Prime Minister Benjamin Netanyahu, it is "clear" that Iran was behind he attack, reports Reuters.
A total of seven oil companies have applied for production licenses on the Norwegian shelf in a new licensing round. Licenses are awarded for the Norwegian Sea and the Barents Sea.
Product tanker carrier Torm records its second best result in five years with a profit of USD 90 million before tax despite a loss-making fourth quarter. The company buys eight tankers from Team Tankers
Hurtigruten lost almost USD 200 million in 2020 even though the shipping company received large sums in compensation from the Norwegian government's compensation schemes. Monday, the company secures a new large loan.
The Norwegian dry bulk operator landed a small profit in the fourth quarter unlike in the previous quarters of 2020, in which the company lost money in light of a historically small order book in the dry bulk market. The annual result lands in the red.
"Service is not free of charge, it has a price," says CMA CGM chief executive Rodolphe Saadé on the same day that the container liners' reliability reaches an all-time low. Hapag-Lloyd presents a new guarantee to shippers.
New gas tanker major BW Epic Kosan will especially focus on the ships of the future and the bottom line, explains Charles Maltby, who will serve as CEO of the company. The green agenda will also put a damper on consolidation in the LPG sector, he expects.
The CEO of Norway's Solstad calls on banks to take more charge of the consolidation among offshore ship operators. Without consolidation, not even rising rates will resolve the companies' woes, he says.
Transport Minister Rotimi Amaechi of Nigeria announces a three-month offensive with planes, drones and boats, in an effort to protect commercial vessels against pirates in the Gulf of Guinea. The operation will costs USD 195 million, reports Bloomberg.
Banks prefer to finance newbuilds or retrofits, said several panelists at this year's digital Marine Money conference. LNG is particularly popular among shipowners, which currently prefer to hold back on new orders.
A big dip in both revenue and earnings in the last three months of the year was not enough to spoil the fact Nordic American Tankers booked a net-result of USD 50 million for the year as a whole.
A Japanese financing firm is setting up a new fund of more than USD 5 billion for buying up LNG ships. The ships will be chartered out to major Japanese shipping companies, which thus get access to greener vessels without expanding their balance sheets.
Despite a weak tanker market in the fourth quarter, Norway's Hunter Group delivered a profit – also for 2020 as a whole. Hunter Group, controlled by Norwegian Arne Fredly, is optimistic about 2021.
Eimskip has gone through extensive cutbacks, which, among other things, have created savings totaling millions of euros on employee wages. 2020 has been a demanding year, in which the partnership with Royal Arctic Line was finally launched.
Operations Manager - Ultrabulk 
Shipping Assistant 
Head of People Development, Group HR - USTC Legal Counsel, Group HR - USTC 
Sector adviser to the Danish embassy in China Senior HR Business Partners - USTC 
Chartering (f/m/d) for Heavy Lift and Tramp Shipping 
Dry cargo operator - Coli Bulk Carriers GmbH 
