Lars Kastrup was actually about to leave CMA CGM in August last year, but he was then given a very concrete task, which has now been completed. The senior VP has now left the French container shipping line, ShippingWatch has learned.
The coronavirus outbreak in China creates uncertainty in shipping – not least in dry bulk, which is already off to a difficult start in 2020. The situation has prolonged the Chinese New Year, and this can cause delays in the market, a brokerage firm tells ShippingWatch.
The price for new containers is under severe pressure with growing competition and uncertainty in the industry. Prices for all container types went down in late 2019, reports Drewry.
An investment in a sister company helped secure a double-digit million-dollar profit for Scorpio Bulkers in the fourth quarter 2019. Conversely, a major impairment on four vessels put up for sale pulled figures downward.
The current coronavirus outbreak could have consequences for the shipping sector, and it also forces shipping companies to act in terms of infection risk, warn several shipping stakeholders.
Star Bulk Carriers is benefiting from its big bet on scrubbers, which protects the company against high bunker prices and a major dip in dry bulk rates. But it has not been easy getting to that point, says Chief Strategy Officer Charis Plakantonaki.
The container shipping lines have not been able to push the costs of the new sulfur regulations on to customers in January. At least not when looking at backhaul voyages, notes analyst firm Sea-Intelligence.
Battery producer Corvus Energy expects to have hybrid solutions ready for deep-sea vessels within two or three years, says CEO Geir Bjørkeli in an interview with ShippingWatch.
The Baltic Dry Index continues its nosedive. The index is down more than 40 percent since the turn of the year, and is now at the lowest level since April 2016.
Majority shareholder in Greek Star Bulk, equity fund Oaktree, uses its large ownership stake to insert another one of its people on the shipping company's board of directors.
Many shipping companies welcome more sustainability, but several of them experience that requirements from investors and customers in particular are unclear. "Nobody knows what it is going to cost or exactly what is it that will cost," says Ridgebury Tankers CEO.
Veritas Petroleum Service, which tests fuel, has issued seven warnings in just one month about excessive sediments in new fuels with 0.5 percent sulfur.
Yet another of the world's biggest container shipping companies now introduces an extraordinary bunker surcharge following recent weeks' large price increases on low-sulfur fuels. This time it is German Hapag-Lloyd, ShippingWatch learns.
MPA Singapore screens passengers and seafarers from incoming ships for the corona virus that has cost several people their lives following an outbreak in China.
Frank Smet steps down as CCO of Maersk-owned container line Hamburg Süd and retires. Management colleague takes over his responsibilities.
United Heavy Lift and BBC Chartering both confirm taking over ships from struggling Zeamarine. United Heavy Lift, owned by Lars Rolner and Lars Bonnesen, has acquired several new ships for its fleet this week. Updated.
United Heavy Lift, owned by Lars Rolner and Lars Bonnesen, acquires two ships from pressured Zeamarine and another from a different competitor, ShippingWatch learns.
The security situation in the Gulf of Guinea off the coast of West Africa is unstable. The EU should protect ships against pirates far more than is the case today, Claes Berglund, new president of the European shipowners, tells ShippingWatch.
Norway's oil major wants to develop an ammonia-fueled offshore vessel in collaboration with Eidesvik Offshore.
Scan Global Logistics has raised more than EUR 200 million in fresh capital, and the figure could be increased further. The capital will help boost the company's global presence, says CEO Allan Melgaard.
Tanker shipping company Concordia Maritime moves its operations from Sweden to Denmark, although CEO Kim Ullman stays in Gothenburg. The next move could be a listing on the Oslo Stock Exchange. ShippingWatch has interviewed Ullman about the new set-up.
A new initiative from Danish Shipping aims to increase the number of women in shipping. 15 companies will on Thursday have signed a charter in which they pledge to work actively toward gender equality. The goal is to ensure that three out of four Danish shipping companies have signed the charter within the next year.
The net result for Cosco's container and terminal business is expected to grow by 449 percent in 2019. The acquisition of OOIL in 2018 has boosted the result significantly.
South Korean container line HMM expects its revenue to increase markedly this year. One significant reason is 12 new mega-ships, which are about to hit the water.
Large price hikes on new fuels make Maersk, in an extraordinary move, raise its bunker adjustment factor for its customers. According to an analyst, however, the liner companies do not seem to have successfully passed the fuel bill on to customers.
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