The looming trade war is not really J. Lauritzen CEO Mads Zacho's biggest concern. In fact, a combination of two different trends may become particularly toxic to the carrier, he tells ShippingWatch.
With a newly established ship management venture, Noble Chartering and its CEO Michael Nagler aim to increase the number of vessels significantly within a few years. "We are fairly aggressive in our approach," says Nagler in an interview with ShippingWatch.
Maersk Line will install scrubbers on a small number of vessels and the investment in the smoke cleaning technology amounts to USD 80 million.
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Norwegian tanker carrier Frontline books yet another deficit in the third quarter, but CEO Robert Hvide Macleod is confident the crude oil market has rebalanced from "extremely challenging conditions," he says in the report.
According to TradeWinds, Shell has entered the market following a big transaction on product and chemical tanker ships, which may amount to 30 newbuilds.
Several shipping companies have thus far mainly reported only minor financial setbacks caused by the ongoing trade war, particularly between China and the US. Commodity shipping is now starting to feel the effects of a decline in Chinese demand.
The fact that eight countries have been granted a six-month exemption from the US' sanctions against Iran may strengthen the tanker market, estimates shipbroker Simpson Spence Young.
Israeli carrier Zim generated a small profit in third quarter of 2018. According to CEO Eli Glickman, the strategic collaboration with the 2M alliance reflects in the financial report.
Bulk and tanker carrier J. Lauritzen's operating result came a little closer to a profit in the third quarter this year, helped along by an improved dry bulk market. Despite a looming trade war, CEO Mads Zacho expects the improvement in dry bulk to continue.
Hamburg Süd acquisition helps Maersk in a risk-fraught market, the world's largest carriers confirmed new association that ShippingWatch reported last week. And several major players presented their financial results.
The recovery of a miserable product tanker market is well underway, says Executive Director Jacob Meldgaard in an interview with ShippingWatch after the company delivered yet another significant deficit in the third quarter.
As ShippingWatch recently reported, several of the world's largest container liner companies have formed a digital partnership aimed at creating standards for the container shipping industry.
IMO will discuss how the UN organization can become more transparent and open next week. NGO Transparency International fears that major nations will hinder an actual reform.
Maersk and IBM's digital platform Tradelens is, despite a lack of support from other shipping companies, at a "much more advanced stage" than the new blockchain initiative launched by Cosco and CMA CGM, among others, says Maersk Group CEO Søren Skou.
In as little as six months, two or three shared standards for container liner companies should be ready. That is the goal for the new global association between the world's largest container carriers, says André Simha, spokesman for the association and CIO at MSC, to ShippingWatch.
A combination of three solutions is the best way of achieving zero-emissions for the European shipping sector, concludes NGO Transport & Environment in a new analysis.
Head of Tanker Vessel Group - NORDEN
Talented Vessel Manager to TORM
Chaterring Executive, Singapore Office - Hudson Shipping Lines
