Seadrill lost close to USD 200 million in fourth quarter


John Fredriksen's drilling company Seadrill finished 2019 with a new deficit, pushing its combined loss for the year to USD 1.2 billion. CEO expects improvements in 2020, even though "the pace of the recovery has slowed" at the start of the year.


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Man behind Triple-E vessels returns to Maersk

Bo Cerup-Simonsen, one of the driving forces behind Maersk's Triple-E series, will return to Maersk a few days from now. He will be part of the team tasked with implementing the shipping line's CO2 strategy.

Number of ships in German commercial fleet keep dwindling

There are increasingly fewer vessels in the German ship register. However, Germany remains the fifth-largest shipping nation, but it should look to other EU countries regarding one area in particular, urges Ralf Nagel, CEO of the German Shipowners' Association.


Frontline reports best quarter in 11 years

Frontline's net earnings came to USD 108.8 million in the fourth quarter 2019, the highest result in more than 11 years. 2020 has started off well, but the coronavirus outbreak creates uncertainty, says CEO Robert Hvide Macleod.

Higher rates make Avance Gas' earnings soar

Higher rates pushed Avance Gas' earnings up in the fourth quarter. According to the shipping company, the IMO's sulfur cap has helped ensure that the strong freight market continues into 2020.

Chemical tanker market has lagged behind for seven years

Chemical tanker rates increased 25 percent in 2019. Still, there is some way to go before Odfjell's CEO would call the market sustainable. Seven years of feet-dragging are noticeable, he tells ShippingWatch. And now another black swan has emerged.

Genco to sell all of its handysize ships

US-based dry bulk carrier Genco Shipping plans to sell a total of 25 ships as part of the company's plan to rejuvenate its fleet. Most recently, the shipping company announced that it intends to sell all its handysize vessels.

Pension fund questions Maersk chairman's record pay

Maersk Chairman Jim Hagemann Snabe's total pay package is significantly larger than that of other chairs among the 25 most traded companies in Denmark – much to the astonishment of several pension investors.

IMO will continue work on washwater from scrubbers

There is still no scientific clarification in the matter concerning washwater from scrubbers, which has created a lot of debate in the sector. A work group has several recommendations for member states of the IMO's Marine Environment Protection Committee.

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