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Oaktree confirms Hansa Heavy Lift insolvency

Monday afternoon European time, Oaktree Capital Management confirms that Hansa Heavy Lift has filed for insolvency.

Frustrations about bad bunker remain intact

While new cases of bad bunker seem to have come to a halt, existing cases are still causing headaches among shipowners, charterers and suppliers, says Mathias Steinø, partner at firm Hafnia Law, to ShippingWatch.

BBC Chartering has been hit hard by bad bunker

BBC Chartering has had to pay large extra costs for tug boats as well as having several ships cleaned after tanking contaminated bunker. CEO Svend Andersen says that the project cargo carrier is among the hardest hit in the widespread cases related to the damaging bunker.

Heavy lift takes the first steps out of a decade-long downturn

One decisive factor contributes to a small recovery in the hard-pressed heavy lift segment. But the rates need to increase by 20-40 percent before the market can be described as healthy, says the CEO of the world's second-largest project cargo carrier, Svend Andersen, in an interview with ShippingWatch.

Cosco takes the throne in toxic project cargo market

Entering 2018, China's Cosco took the position as the world's largest multipurpose carrier in the crisis-stricken sector, while the Stadil family's Thorco Projects is shrinking its fleet, shows a new review.

More than 100 distressed MPP vessels redistributed by banks

Unprofitable multipurpose vessels, which German banks are left holding, are being moved around big-time among shipowners. "We're basically competing against zombies these days, which exist with continuing support from the banks," says one market player.

Intermarine expands network on the Atlantic after Nordana exit

US project carrier Intermarine has secured the former head of Nordana to lead an expanded liner service on the Atlantic, while BBC Chartering and Spliethoff are similarly expanding on the Atlantic.

BBC Chartering: Project cargo in Asia sliding big-time

The German multipurpose carrier has experienced a decline in cargo volumes in Asia by almost one third in the first months of the year. "We are preparing for a tough year," COO Henrik Pedersen tells ShippingWatch.

The biggest multipurpose operators have grown by 10 percent

Germany's BBC Chartering expanded its fleet significantly over the last six months of 2016, during a time in which the multipurpose market has been historically weak. The Stadil family's Thorco ranks at third-largest in the world, according to calculations form Dynamar.

Banks prepare for next round of consolidation in multipurpose

In December, the two major Dutch banks ING and ABN Amro forced the first large-scale consolidation through in the ailing multipurpose sector. Now the market is waiting on what the banks will do next in the German hub for specialized vessels. Drewry eyes slight improvement in late 2017.

Major banks sell off multi-purpose vessels

Banks including ING and ABN Amro are demanding compulsory sales of more than 20 Dutch-controlled multi-purpose vessels after cancelling loans to the vessels. ABN Amro has now cancelled the credit to Abis Shipping's fleet of more than 12 ships.

Heavy lift industry facing large-scale consolidation

Extensive consolidation in the global heavy lift industry is underway and will presumably materialize in the coming months, several industry sources tell ShippingWatch. Heavyweights BBC Chartering and SAL Heavy Lift can play a key part in the resolution of the ailing industry's future.

BBC Chartering in Asia: Our engineers bring in the jobs

In a specialized cargo market where the prices have been dragged way down, BBC Chartering in Asia has found a way to stand out from the crowd.

BBC Chartering expects black figures again

While the competition keeps talking about the crisis, BBC Chartering projects another positive result this year, a fact the company has kept to itself so far. One of the carrier's strengths is the many offices working closely together, the Managing Director for Asia tells ShippingWatch.