When companies are integrated, or parts of them are placed under each other, dual functions will usually emerge in positions within finance, IT and HR. This is also where Maersk's next efficiency measures will focus on.
Japanese liner company Ocean Network Express now downgrades its expectations for the rest of the year. Where the company previously expected a profit, it now looks set to book a major deficit for the full year.
German shipping banks no longer represent a significant risk for the overall German banking sector, says Moody's. The banks have significantly reduced their exposure to non-performing loans in shipping.
A significant portion of Scorpio Tankers and Scorpio Bulkers' fleet will be fitted with scrubbers in the coming years. The investment totals several hundred million dollars.
Next year will see several large deals for LNG projects settled, and this will make 2019 a record year, says analyst firm Wood Mackenzie.
The container market achieved a negative record in the third quarter of this year. The number of blank sailings grew on the Pacific routes in particular, but another important route also experienced many cancelations.
MSC will in the time to come equip thousands of containers with tracking systems. These will provide information about factors such as the containers' actual positions on the voyage.
Maersk Line's integration of Damco is not without risks, says Alphaliner, noting that neutrality toward third party customers is at play. Maersk Line COO Vincent Clerc disagrees.
Maersk's former chief digital officer, Ibrahim Gokcen, has joined the Maersk Tankers board of directors.
In 2018 alone, liner company HMM will receive a triple-digit million dollar figure from the South Korean state, reports media Pulse. South Korea's state aid for shipping companies and shipbuilders is met with fierce criticism from bodies such as the EU.
Carsten Mortensen, who recently stepped down as CEO of BW Group, has not resigned from his board positions at two of the group's shipping companies.
OOCL is the latest container carrier which introduces an extra fuel charge to customers as upcoming sulfur regulations are expected to significantly push up the price of fuel.
The European Union and the UK look set to miss a key milestone this week in the talks to settle a Brexit deal as talks ended in stalemate on Sunday, sources say.
Recent years of consolidation in the container market contains two stories, according to the UN Conference on Trade and Development. For shipowners and shippers, the development is positive, while it could have negative consequences for terminals and ports, warns the organization.
Liner shipping companies Hapag-Lloyd and Ocean Network Express have expanded their partnership with a joint network on short feeder routes in Europe and Asia.
Gas carrier Flex LNG has raised over NOK 2 billion in a private share issue. The company, which is controlled by Norway's John Fredriksen, will use the money to finance new vessels.
The European Commission has cleared an extension of the Danish tonnage tax scheme. The extension will enable more vessel types to benefit from the lucrative tonnage tax.
Developments in the fiscal year 2017/2018 have taken management of the Panama Canal by surprise, and it describes the year as a record for the vital waterway.
MEP Christen Schaldemose will continue to push the EU Commission until it takes concrete actions to hinder state aid for South Korean and Chinese shipbuilders.
A five-year plan titled "Stay Ahead" sets out approximate targets for the size of each business area within Maersk by 2023, according to media The Loadstar.
"It will start a race to the bottom," Fjord Line tells ShippingWatch after the recent decision to green light Nordic rival Color Line's re-flagging of several vessels. Danish carrier DFDS suggests a Nordic coordination of ship registers.
Mounting trade tensions have not changed Pacific Basin's outlook for the dry bulk market for smaller bulk vessels. The company is optimistic about a sustained market upturn.
Swedish Stena Bulk has entered a new partnership with Bay Crest Management in order to expand its tanker business in Asia with the new company GSB Tanker.
Yet another major port will become part of Maersk's efforts to secure low-sulfur fuel in preparation for 2020. Maersk Oil Trading has now leased part of a tanking terminal in Singapore.
South Korean container carrier Hyundai Merchant Marine is set to receive South Korean state subsidies for its major order on a number of new ships, write several media. Among other things, the money will be spent on vessels greater than 20,000 teu.
Ocean agent - Expeditors
General Manager - On-site recovery, MAN Energy Solutions
Professional consultant - CO-Sea
Account Manager - Port of Aarhus
