Hafnia continues its efforts to take over Ardmore, but the company is not preparing a new, improved offer for the competitor, says CEO Mikael Skov. He denies that Hafnia's offer is far too low, and he calls on shareholders to focus on the long-term benefits of merging the two companies.
Over a dozen maritime nations have agreed to declare seafarers key workers, giving them enhanced rights when crossing borders. The list includes countries such as Denmark, the Philippines, US, UK and Greece.
The administrator of Ocean Tankers points to two options for a restructuring of the tanker shipping company, which is part of the Lim family's business empire. Negotiations with the family will begin next week.
DHL Group is ready with guidance for its 2020 result after the second quarter brought improved results compared to the year before. Volumes are also returning to the market, says DHL.
The shutdown of a factory in China meant that Maersk Container Industry produced 2,000 fewer reefer containers in February and March. Maersk Container Industry's Danish business booked black figures for 2019 but expects a decline in 2020.
Dan-Bunkering aims to elect a female board member at its general assembly in the financial year 2020/21. Dan-Bunkering's owner, Bunker Holding, already has two women on its board of directors.
Thursday evening, 12 countries promised to find a solution for the thousands of stranded seafarers around the world. The increasing international focus is positive, says Anne Steffensen, CEO of Danish Shipping. "But we also have to be honest and say that now is the time to act."
Hafnia wants to merge with competitor Ardmore, which is less excited about the off. Maersk made a logistics acquisition, and there were news about the Stadil family's shipping bankruptcies.
Scorpio-controlled Hermitage Offshore has reached an agreement with its lenders. The company has yet to find a solution for its restructuring and has been granted a deferral for the rest of the month.
The world's stock-listed rig companies have debt totaling USD 37 billion and a market value of USD 2.3 billion, according to calculations made by Norwegian analyst Lukas Daul of ABG Sundal Collier. The banks need to make brutal decisions, he tells Dagens Næringsliv.
The container shipping lines' voiding of sailings in the third quarter is a clear indicator that the build-up to Christmas sales has not happened, says Lars Jensen, CEO of Sea-Intelligence Consulting. It will be at least 2021 before things turn around.
Maersk did not violate any rules when the shipping line out-flagged and scrapped four older ships in India, concludes the Danish Environmental Protection Agency after investigating the case since November 2019.
Hafnia CEO Mikael Skov calls for more willingness from Ardmore to enter talks after failed acquisition attempt, he tells media. ShippingWatch has contacted Ardmore's ten biggest shareholders.
According to Dagens Næringsliv, the liquidator appointed for bankrupt Kleven hopes for clarification Friday. "Things are starting to become tense," he tells the media.
Two seafarers aboard one of Uni-Tankers' vessels have been infected with covid-19. The vessel is now quarantined in Algeciras in Spain, where it has been berthed since Tuesday.
Owners of offshore supply vessels must arm themselves with patience, and 2020 will likely be a year they will want to forget, as utilization will drop all the way down to around 20 percent, projects broker Fearnley Offshore Supply.
When countries provide state aid to sectors such as shipping, as has been the case during the coronavirus crisis, they should include a requirement for compliance with the goals set out in the Paris Climate Accord, says UN Secretary General.
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After a range of trade finance scandals that have caused potential losses of USD 9 billion for international banks, including the debacle surrounding oil trader Hin Leong, lenders are preparing to fight back, with a central database tracking collateral as one potential endeavor.
South Korea is the latest country to introduce emission control areas at several of its ports, reports Bimco.
Oil service company Kvaerner, which earlier this week heralded better prospects after the coronavirus crisis and oil price slide, increased its order book considerably in the second quarter. CEO sees possibility of "strong growth" in renewable energy.
Old ships pollute so much that a huge effort is needed to reduce their pollution if shipping is to contribute to fighting climate change. IMO needs to work faster than it does today, says researcher behind recent study.
Maersk pays DKK 1.8 billion for Sweden's KGH Customs Services, which several people from the customs clearance company own stakes in. The sale thus sends millions of kroner in their direction.
The fact that there are too few female CEOs in the shipping sector delays more gender equality on the boards of directors in the maritime sector. Without female CEOs, one cannot recruit them, says Anne Trolle, executive director at Danish Shipping.
Revenue at Dan-Bunkering, owned by Bunker Holding, took a big dive in 2019/20. Still, the bunker company was able to maintain its income.
Ship database Vessels Value projects increases across all segments ahead of 2023, but some asset values will first have to drop further than where they are today. Get an overview here.
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