Welltec improved on both revenue and results in the second quarter, but the company does not dare believe that the oil sector crisis is over, despite the fact that the industry is slowly adjusting to an environment with lower oil prices.
Jørn Madsen, CEO of Maersk Supply Service, expects to scrap at least half of the 20 vessels now being sold, he tells ShippingWatch. Regulations in the Danish International Ship Register mean that more vessels will be flagged outside of Denmark.
Ensuring a clear and shareholder-friendly investment strategy at Maersk is far more crucial than splitting up the group, which would likely not create more value for shareholders, projects investment bank Carnegie in an analysis.
After two months trading on the stock exchange, Danish utility Dong now reveals how it has fared during the first half of 2016. The booked result is USD 524 million better than in the same period last year.
Canada has earmarked billions for shipbuilding and in the fall, Danish maritime companies will meet with Canadian authorities in the fall to discuss new partnerships. CEO of industry association Danish Maritime, Jenny Braat, describes the campaign as a milestone.
While investors in major Danish energy groups reaped massive returns in 2015, there are factors suggesting that the state was cheated out of large proceeds from dividend tax, writes Danish daily Borsen.
Scandlines, which is owned by equity fund 3i, hits back at the Danish Ministry of Transport in a case concerning a leaked report. The carrier has ordered its own analysis which casts doubts on the conclusions in the original report, adding another chapter to the protracted conflict between Scandlines and the state.
Dong Energy has published its prospectus aimed at spurring investors from all over the world to invest in the Danish energy group. However, an investment in Dong comes with a long line of risks, according to the prospectus. Provisions related to the failed Hejre project could "increase significantly."
With an intensified competition among the world's prominent maritime nations, former Svitzer CEO, has accepted the important assignment given by the Danish government to prepare and shape a more attractive framework for the nation's shipping and offshore companies.
The all-time big commercial fleet and a range of impending environmental regulations within international shipping in the coming years will create growth in the Danish maritime industry. However, the right framework conditions are not in place, warns industry association Danish Maritime.
Struggling J. Lauritzen has sold its 5.3 percent stake in highly profitable Hafnia Tankers as part of a trade with its owner, Lauritzen Fonden. The tanker carrier pays USD 31 million in dividends to its shareholders.
A sudden surge of car imports through Denmark's Port of Esbjerg supported the port as customers in the oil and gas industry are feeling the pressure of the low oil price. The export of wind turbines is expected to rise after a few years of negative growth.
Danish utility Dong noted an improved operating result in 2015, driven mainly by increased production in offshore wind, though the struggling oil and gas market sent the net result deeper into the red.
Danish Underground Consortium (DUC) headed by Shell and Maersk is facing servere technical challenges. Very soon, DUC must decide if Denmark's largest gas field in the North Sea must be shot down as a result of the seabed below sinking several meters.