The new shipping bank Maritime & Merchant will be launched in the fall, CEO Halvor Sveen tells ShippingWatch. Three US-based funds look set to invest significant amounts.
BY OLE ANDERSEN
The establishment of a new Nordic shipping bank - Maritime & Merchant with headquarters in Oslo, whose investors and co-founders include German shipowner Henning Oldendorff and Norwegian Arne Blystad - is taking longer than expected.
The container market, which for several months has been cooling down after two years with record earnings, has waned even further in September, accelerating the decline in freight rates, according to new figures from Clarksons Research.
Chief of environmental technology company ReFlow agrees with PwC Norway that shipping companies are not reporting well enough on scope 3 emissions. If they don’t pick up the slack soon, it will hit them full force in a couple of years, he says.
U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.
The falling spot rates in the container market have made more shippers seek out renegotiations of rates on their long contracts with box carriers. Numbers from Xeneta show that contract rates in September have dived by 1.1 percent.