Crisis-stricken Borr Drilling gets green light for rescue plan
Hard-pressed offshore company Borr Drilling secures creditor approval for its crisis plan. Banking major DNB recently announced that it was prepared to take over or sell the company, founded by Tor Olav Trøim, if a solution was not found.
The current tanker market is catastrophically poor with unprecedented low rates in the otherwise attractive winter months, Norden CEO Jan Rindbo tells ShippingWatch. That is why he projects that Norden's earnings will almost halve in 2021, compared to 2020's record result.
Despite a strong second half-year, Kuehne + Nagel's container volumes declined overall in 2020. Sky-high demand and container shortages have led the logistics company to focus on its "key customers" during the pandemic, says CEO Detlef Trefzger.