Kuehne+Nagel is not in the process of acquiring DSV, says DSV to ShippingWatch. A media report suggested Tuesday that DSV was looking to be acquired after it had come to terms with a failed bid for Panalpina.
A coalition of shipping companies criticizes EU member states' call for changing the regulations if studies show wash water from scrubbers harms the marine environment. The IMO will discuss the issue Wednesday.
Tanker shipping companies fought their way through a 2018 that hit rock bottom. At Swedish Stena Bulk, the year was spent on preparing for better markets, while the company launched a new venture, CEO Erik Hånell tells ShippingWatch.
DP World has entered an agreement to purchase P&O Ferries, which operates ferry services on the English Channel in competition with DFDS. The Dubai-based company thus continues its acquisition spree following its takeover of Unifeeder.
Maersk is looking to compete on an equal footing with DHL, UPS and FedEx. It will likely not be that easy, says the CEO of DHL Express, who declines to collaborate with the shipping group.
A hedge fund established by several of John Fredriksen's former key employees finished 2018 with a negative yield. "It was a perfect storm in the fourth quarter," says the fund.
After 15 years, Singapore-based shipping line PIL is withdrawing from the important trade route between Asia and Europe. This will not resolve problems with overcapacity, says Alphaliner.
Nordic American Tankers was still losing money in the fourth quarter of 2018, but the result was noticeably improved compared with the third quarter. The year ended in a large deficit.
Daewoo Shipbuilding & Marine Engineering is about to be acquired by a competitor, and this has made the yard's employees herald walkouts. The employees fear that the acquisition will result in large-scale layoffs.
Both the top and bottom line grew for offshore company BW Offshore in 2018. The shipping company sees signs of an improved market, in which a higher oil price is expected to result in extended contracts for ships.
It is not so much rates, overcapacity, lower global growth or trade war that keeps Maersk's CEO Søren Skou up at night in 2019, rather it is a question of approximately USD 200.
Startup Nautilus Labs, which has several employees with experience from Google, IBM and Amazon, wants to lower shipping companies' fuel costs significantly. Customers include Eagle Bulk.
The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.
Credit rating bureau Moody's upgrades Hapag-Lloyd's rating by a notch due to the German liner company's reduced debt and projected stable results.
Maritime & Merchant Bank, owned by several key shipping profiles, has loaned significantly more money to European shipowners, particularly in 2018. Now the bank will secure more money via a share emission.
Golden Ocean booked a profit in the fourth quarter but is currently navigating in an uncertain dry bulk market, in which the Vale accident has made an impact. Sentiment is negative, says CEO Birgitte Vartdal.
German bunker company Bomin has been hit with two new accusations concerning contaminated bunker. In one case, a company claims that Bomin knew the bunker oil was contaminated even prior to delivery.
Two yard workers were killed Monday during the scrapping of a Greek tanker vessel which caught on fire at the Chittagong beach in Bangladesh, reports Shipbreaking Platform. It is time for the Green government to intervene, says the NGO.
The level of activity will increase in 2019, forecasts Transocean President and Chief Executive Jeremy Thigpen, who estimates that the recovery began in 2018 when Transocean also completed a number of acquisitions.
European shipping companies have a special responsibility to improve conditions for the environment and workers at the much-maligned beaching yards in South Asia, says the EU's maritime affairs commissioner, Karmenu Vella.
The container producers are losing upwards of USD 200 every time they send a new dry container into the market, according to a new study by Drewry. Maersk recently shut down two factories, though the shipping line and its peers could benefit from the development.
Danish Ship Finance is currently in talks with several compatriot pension funds concerning possible partnerships, in which the pension funds supply a portion of credit to selected shipping companies, ShippingWatch gathers.
According to a survey by Seaintelligence, the fleets at 6 of the 12 largest liner shipping companies have grown less than the increase in general demand. Maersk and Zim have downright reduced their fleet size in 2018.
Dry bulk vessel Stellar Daisy has been located at the bottom of the sea, 1,800 nautical miles west of Cape Town.
A series of impairments pulled Wilh. Wilhelmsen into the red in the fourth quarter. And a failed acquisition attempt cost USD 27 million.
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Chartering Manager: MUR Shipping Denmark A/S, Rungsted
