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Shipping heavyweights join forces to solve crisis of stranded seafarers

More than 300 companies and organizations join forces in an initiative aimed at solving the crisis of stranded seafarers as quickly as possible. V.Group, BP, Cargill, BW Group and Trafigura are just some of the names involved, along with major shipping lines such as Maersk, Hapag-Lloyd, MSC, Cosco, ONE and CMA CGM.

Bourbon Offshore saw activities diminish 20 percent in 2020

One of the world's biggest offshore ship operators, Bourbon Offshore, settled a comprehensive restructuring one month ago. But the group now acknowledges that the offshore market dwindled significantly last year. ShippingWatch sat down with CEO Gaël Bodénès.

Svitzer kicks off 2021 with more questions than answers

Towage operator Svitzer faces an unpredictable year in which both the vaccine and Brexit could upend the entire business. Nevertheless, there are still factors that could trigger greater demand, says new managing director of Europe, Lise Demant.

BP books modest third quarter profit

The British oil company has avoided the kind of impairments that dragged its results into negative territory in this year's second quarter, achieving, rather, a small profit after a period with only minor fuel demand recovery.

China will allow crew changes in ten ports

Ten ports in China will open for foreign seafarers in relation to conducting crew changes, says Bimco. And the EU has reached an agreement on new joint travel rules, which makes shipowners hope for easier access for crew changes.

Virus outbreak halts Nordic Shipholding's merger talks

Shipping company Nordic Shipholding began merger talks with a foreign-based shipping company in late 2019. But the coronavirus crisis has put a halt to the negotiations. Instead, the shipping company will initiate a sale of one of its ships.

"We acted much differently than during the global financial crisis"

During the financial crisis in 2009, Maersk chased market shares. But this strategy turned out to hurt shareholders. During the coronavirus crisis the shipping company's strategy was therefore completely different, and that is partly why the group's earnings increased, says CEO Søren Skou.

"This is significantly better than we thought"

DFDS Chief Executive Torben Carlsen says that he is "pleased" with the second quarter despite a big setback in revenue as well as bottom line. Improved prospects does not change the fact that 650 employees must leave the company.

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