Teekay Tankers sees sudden rate dive for crude oil

High rates provided Teekay Tankers with a profit in the fourth quarter, however, it is not enough to fix the whole year, which ended with an aggregate deficit. 2019 started well but has since gone downhill.

Søren Skou: 2019 looks even more uncertain

CEO Søren Skou thinks Maersk has a problem with earnings. And the rising oil price, an unpredictable US president and lower global growth in 2019 will only counteract the chief executive's important task of increasing operating earnings.

Chinese port group shuts down Australian coal import

One of China's largest port operators has banned coal imports from Australia. Customs declarations on Australian coal have practically doubled in several other Chinese ports, so processing times have grown to at least 40 days.

HMM's CEO steps down

South Korean container carrier HMM's CEO, CK Yoo, will step down from his position as chief executive next month, informs the departing CEO in an e-mail to his colleagues.

PIL pulling out of important container route

After 15 years, Singapore-based shipping line PIL is withdrawing from the important trade route between Asia and Europe. This will not resolve problems with overcapacity, says Alphaliner.

DP World buys P&O Ferries

DP World has entered an agreement to purchase P&O Ferries, which operates ferry services on the English Channel in competition with DFDS. The Dubai-based company thus continues its acquisition spree following its takeover of Unifeeder.

Qatar confirms plans for 60 new LNG ships

The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.

Golden Ocean eyes uncertain dry bulk market

Golden Ocean booked a profit in the fourth quarter but is currently navigating in an uncertain dry bulk market, in which the Vale accident has made an impact. Sentiment is negative, says CEO Birgitte Vartdal.

MOL Chemical Tankers buys into Dutch logistics company

Just over one month after acquiring Nordic Tankers, Japanese MOL Chemical Tankers has continued on its shopping spree. This time, the company has purchased shares in and has entered a partnership with a Dutch logistics firm.

Manufacturers losing USD 100-200 per container

The container producers are losing upwards of USD 200 every time they send a new dry container into the market, according to a new study by Drewry. Maersk recently shut down two factories, though the shipping line and its peers could benefit from the development.

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