Western Bulk reports smaller deficit for first half of 2020

Western Bulk finished the first half of the year with a smaller deficit than last year, but the Norwegian dry bulk operator was still hit hard by the coronavirus pandemic in the second quarter. The company is cautiously optimistic about the rest of 2020.

Hin Leong founder charged with fraud by Singapore police

Lim Oon Kuin, founder of bankrupt oil trading group Hin Leong Trading, has on Friday been charged with fraud at a court in Singapore, informs the country's police. Investigation of the founder's role in several cases continues.

Oil collapse was a welcome help for Hapag-Lloyd

Many feared that container lines would take a massive hit from the coronavirus crisis in the spring. But at German Hapag-Lloyd, the opposite happened. Part of the reason is help from a collapse in oil prices, CEO Rolf Habben Jansen tells ShippingWatch.

Container surpasses tanker in scrubber installations

Tanker has long been the sector in which most vessels have already or are slated to be equipped with a scrubber. But the container segment overtook the tanker segment on that score in early July, shows new analysis.

2020 Bulkers reports million dollar profit for second quarter

In a challenging period for the dry bulk market, Tor Olav Trøim's dry bulk operator 2020 Bulkers was able to deliver a million dollar profit. Following delivery of the last of a total of eight vessels, the company's focus is now to create returns for its investors.

Seapan's fleet utilization remained stable in second quarter

It only had a marginal effect on the world's largest tonnage provider within the container industry, Seaspan, that shipping companies have returned vessels to owners in an effort to minimize the effects of the coronavirus crisis, the company's interim report reveals.

"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.

Coronavirus pandemic is "extremely worrying" to d'Amico

Product tanker rode a booming recovery in the spring,which is reflected in the interim reports. The market looks weaker going forward, and the threat from the pandemic is far from over. ShippingWatch has interviewed Italian d'Amico, which is not yet part of the consolidation in the sector.

V.Group assumes management of 16 Xihe vessels

Singapore's tanker shipping company Xihe leaves the technical management of its 16 vessels to V.Group, the two companies confirm. The shipping company is trying, among other things, to free itself from the collapsed Hin Leong group.

DFDS upgrades after big setback in second quarter

Shipping and logistics company DFDS' revenue as well as profit dropped significantly in the second quarter. Meanwhile, the company adjusts its 2020 guidance. "Our outlook is improved," says CEO Torben Carlsen.

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