In spite of an industry hit by a lower oil price and reduced demand from especially China and Japan, the head of Shell LNG is optimistic about the future. Growth will be driven by increased demand for greener fuel, says Shell's Vice President for Global LNG.
BY TENNA SCHOER
Not long ago, LNG was predicted a very favorable future as the major replacement for oil. But the oil price plummeted, and suddenly gas was not that hot anymore.
Coffers are filled with money ready to be spent on investments, but German Schulte Group holds on to its capital for the time being. ”There is simply too much uncertainty,” says Group Chair Heinrich Schulte.
To replace Kristian Mørch, the Odfjell family has chosen a new chief executive who truly knows the chemical tanker carrier from within and aims to ensure continuity. ShippingWatch has interviewed Harald Fotland regarding his plans and priorities for the Norwegian carrier.
Prominent Belgian tanker carrier Euronav is open to changing address as part of a forthcoming merger with Frontline. ”Everything is being considered at the moment,” says CEO Hugo De Stoop in an interview with ShippingWatch.
Maersk Decom, established by Maersk Supply Service and Maersk Drilling in an attempt to benefit from a large market for decommissioning assets within the oil industry, shuts down. Chief executive left several months ago.
Neither DSV nor DHL were able to keep up with Kuehne + Nagel in operating earnings during the year’s first three months. In other important areas, however, both companies outdid their Swiss competitor.