Brightoil's chairman declared bankrupt

The chairman of struggling Brightoil Petroleum has stepped down after a court declared him bankrupt. The now-former chairman guaranteed for part of the company's debt.

Smedegaard gets bonus for Norwegian chairmanship

Niels Smedegaard will get a start bonus of NOK 1.5 million when he takes up his position as chairman of airline Norwegian. And his annual salary will be doubled compared to his predecessor in the position.

New license to combat bunker problems in Rotterdam

The Dutch shipowners have for years been working to introduce a new licensing scheme in order to resolve the bunker problems in Rotterdam. Suppliers, meanwhile, say that shipping companies also carry some of the responsibility.

Rotterdam is concerned about reports of bunker problems

The Port of Rotterdam is considering mass flow meters as one of several measures to combat bunker problems, says a spokesperson from the port after several shipping companies told ShippingWatch that they are experiencing problems with undersupply.

Carriers frustrated by bunker problems in Rotterdam

Several shipping companies are experiencing problems when they tank fuel for their ships in Rotterdam. One company is now considering taking matters into its own hands with an unconventional proposal for its suppliers.

DNV GL notes signs of improvements in shipping

Classification major DNV GL finished last year with a flat development in revenue. But in the last couple of months in particular, the shipping and newbuild market has performed better for the company, CFO Thomas Vogth-Eriksen tells ShippingWatch.

Nautilus bags investment from Microsoft fund

Nautilus Labs, which collaborates with Eagle Bulk Shipping, Dorian LPG and Teekay, has just raised USD 11 million in a new investment round. The largest investor is a venture fund under Microsoft.

Bimco opens office in Athens

Shipping association Bimco will open a new office in Athens to be closer to Greek shipowners. Greeks make up the largest share of Bimco's members by fleet size.

This is how much DSV is expected to gain from Panalpina

DSV buys Panalpina in a major deal, in which the price has continually been negotiated higher. Now DSV is going to create synergies and increase efficiency. Three banks present their view on what DSV may get out of the acquisition.

Nord/LB withdraws entirely from shipping

Bank Nord/LB has presented its proposal for a recapitalization plan, and this involves the bank withdrawing entirely from shipping, a segment which in 2018 cost the bank a large billion euro deficit.

Hamburg bank to lend billions of dollars to shipping

Germany's bank Hamburg Commercial Bank, formerly HSH Nordbank, plans to lend up to a billion dollars to shipping each year for the next few years. New head of shipping tells ShippingWatch that the bank is looking beyond Germany.

Monjasa's profit dropped slightly in 2018

Profit decreased slightly for Monjasa, though the company can be pleased that volumes grew in 2018. Owner and founder Anders Østergaard is pleased with two new credit agreements for the bunker company.

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